Midway back from brink of bankruptcy

Till the middle of February, anyway.

Midway has reached an agreement that should prevent the company from going bust - at least for a bit.

As reported by GamesIndustry.biz, the publisher owes its bondholders USD 150 million following sale to a private investor.

It would appear they've failed to find that kind of money down the back of the sofa, so a deal has been made where Midway gets until 19th February to pay half of it back. They're seeking a similar agreement on a further 6 per cent of Convertible Senior Notes, whatever they are.

Here's hoping something gets sorted out in time for the slated arrival of The Wheelman, Vin Diesel's pet project. It's due out on PC, PS3 and Xbox 360 on 16th February, and you can find out more over on the gamepage. Midway's other 2009 titles include GTA rival This is Vegas, also for all three platforms.

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About the author

Ellie Gibson

Ellie Gibson

Contributor  |  elliegibson

Ellie spent nearly a decade working at Eurogamer, specialising in hard-hitting executive interviews and nob jokes. These days she does a comedy show and podcast. She pops back now and again to write the odd article and steal our biscuits.

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