Feeds

Warner Bros. nabs Mortal Kombat maker for $33m

'Get over here!'

Top 5 reasons to deploy VMware with Tegile

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. ®

Beginner's guide to SSL certificates

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
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?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.