NEWS ANALYSIS- Man buys Midway for 100k, wakes up with a hangover, a sore ass and a bill for 70 million
A drunken man wandered into the offices of Midway and apparently bought the company for $100, 000 and took over $70 million of the company’s debt. Former Owner Sumner Redstone could not be contacted. Well he could be, but he was laughing too hard to hear our questions.
Apparently Midway, with its plethora of valuable IP such as Smash TV, Spyhunter, Gauntlet, Joust, Paper Boy, Mortal Kombat, NBA Jam, Blitz, Toobin’, Blegger, Bogger, Booger, Bugger, LugeyHunter, Jay Leno’s You Don’t Know Shit: The Video Game, Castle of Crasstacular,
I’ve asked around for people’s favorite Midway property and here are the responses. The names have been changed to protect the innocent.
Bill: I always remembered Midway’s Gall Bladder Football. That was truly a classy game.
Heather: Didn’t they, like, make, like, a ton of games, like based on
old shit and stuff?
Kyle: Midway between what and what? Is that a nice way of saying their games score 5.0′s
Quint: I always preferred Coral Sea to Midway.
So how can someone make money out of this transaction? Well the easiest way is to not buy Midway but it’s a bit late for at least one hung over fella. I saw the movie Wall Street the other day so I am a financial expert and in my expert opinion, it seems to me that the IP that Midway controls, mainly arcade hits from the 80′s
are worth substantially less than the figures being reported. Sure Blitz football might be worth a mill or two. And you could get a mill for Spyhunter, a mill for some other crap. Mortal Kombat is their only really decent size franchise but seriously, is it worth 70 million dollars?
This should be interesting
