Midway May Not Be Finished Yet, Thanks To Warner Bros.S

Bankrupt Midway may have a financial savior in Warner Bros., as the media giant—which happens to have a game division in Warner Bros. Interactive Entertainment—is reported to be readying a bid for the ailing publisher.

According to a report from MCV, Warner Bros. is "keen to acquire Midway's flagship Mortal Kombat and Stranglehold franchises" as well as casual fare like the Touchmaster series and legacy intellectual property that the company has squandered over the past decade. As WBIE co-published Mortal Kombat vs. DC Universe with Midway, it could certainly make a sequel to that million-seller much easier to get out the door if the media conglomerate owns all properties involved.

We named Warner Bros. as one of three companies looking at a buyout of Midway earlier this month.

According to MCV's source, Midway is aiming to sell the company for the agreed upon $30 million price tag, which would presumably please creditors and the nearly-30 employees who would benefit under a "key employee incentive program."

MCV's take on the matter is that Warner Bros. may opt to sell off select franchises and studios. No word on whether the company is actively seeking to keep the Mortal Kombat team on board, a studio that may be looking for a new home on its own.

That same unnamed source cautions that "The deal isn't done yet. Midway is still open to offers from other potential buyers – but Warner looks to be favourite to wrap it up."

Whether Warner Bros. ultimately feels like being embroiled in the legal... unpleasantness the company is currently experiencing remains to be seen.

Warner Bros in for Midway? [MCV via Joystiq]