Midway Owes over $281 Million to Creditors, Mad Catz - MCZ Tumbles After Earnings

It has been told that Midway Games-MWY owes over $281 million to creditors. Leading the list of creditors owed is Wells Fargo Bank with $150,000,000. And get this…Midway Games still owes David Zucker $300,000 in severance pay after he undeservingly made around $7 million dollars in the last 2 years.
Its pretty bad when [...]

THUR, FEB 12: Video Game Stocks Fluctuate in Small Ways, MWY Suspended

Video game stocks did not do too much as a whole but there was a story of significance. Shares of Midway Games - MWY fell $.09 today to $.16. The NYSE stepped in and halted trading when Midway announced they had filed for Chapter 11 bankruptcy protection. On the positive side, Nintendo [...]

News Bytes: NYSE Suspends Trading of MWY/Midway Files Chapter 11 Bankruptcy

News Bytes for Video Game Stocks. Thursday Feb. 12 Edition.

The NYSE has suspended the trading of MWY shares. Midway has filed Chapter 11 bankruptcy protection to relieve itself from the pressures of debt. According to the company, its all part of the restructuring efforts. More to come later. Despite the [...]

EA: You Have Some Explaining to Do - and Since We Are On the Subject, You too Midway

Can someone please tell me how a video game company, or any company, generates sales of $1.65 billion dollars, has a wonder hit known as FIFA 09′ which has almost sold 8 million copies - but loses $641 million dollars for the quarter? Don’t you think, if you were the CEO of a company, [...]

Could MK vs. DC Save Midway?

_After a horrendous year for Midway - a year which saw the stock price peak at around 2.90 but only to drop 350% in value; the controlling shareholder Sumner Redstone sell 87% of his investment to a no-name private investor for $100,000; the company lay off 25% of their staff and shut down [...]