Feeds

Warner Bros. nabs Mortal Kombat maker for $33m

'Get over here!'

The essential guide to IT transformation

Warner Bros. has walked away with most of Mortal Kombat maker Midway Games for the cut-rate price of $33 million (£20m).

The deal gives the US movie studio rights to the majority of Midway's intellectual property, including Mortal Kombat, Rampage, Spy Hunter, and Joust.

A Delaware bankruptcy court judge approved a settlement deal last week, saying objections against the sale had been resolved.

Warner Bros. was the only firm to submit a formal bid for the debt-ridden game company, which filed for Chapter 11 bankruptcy in February. Exceptions to the fire-sale are Midway's San Diego and New Castle studios. If buyers can't be found for the two studios within 60 days, the company plans to shut them down.

Although nobody else was interested in bidding, several companies had filed objections to the sale, asserting their own claims to the intellectual property being sold.

Among them was the Hollywood production company Threshold Entertainment, which produced — among other things — two full-length feature films, a direct-to-video animated special, made-for-TV movies, a Saturday morning animated series, and a live stage show based on the Mortal Kombat universe.

"Threshold was responsible for transforming each of the pattern or 'stock' characters present in the underlying Mortal Kombat video game from an unprotectable idea into a fully-realized, completely-delineated and independently copyrightable expression," the company's June 24 court filing stated. "Over the course of years, Threshold in effect brought these characters 'to life' by developing their mannerisms, costume, story, abilities and personality...for which the copyright is owned by Threshold."

Another objector was Tigon Studios, a production company founded by action star Vin Diesel. Midway and Tigon had jointly produced a driving game called The Wheelman, released early this year. Yet another was the consumer brand product conglomerate Unilever, which was concerned over a prior agreement to place advertisements for AXE body sprays and deodorants in a future Midway game.

The judge said objections have been resolved, clearing the way for approval.

Midway filed for bankruptcy this summer after its majority shareholder, media mogul Sumner Redstone, sold off his controlling 87.2 per cent stake in the company to private investor Mark Thomas for only $100,000 along with the assumption of $70m of Midway's debt. ®

Next gen security for virtualised datacentres

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?