All Things Midway Going To The Highest Bidder

Bankrupt game publisher Midway has today "established the timeline" for selling of its assets, studios and intellectual property to the highest bidder, meaning that Smash TV and Joust could be yours... for the right price.

Midway already has a $33 million offer from Warner Bros. to acquire a good deal of the company's goods, including rights to Mortal Kombat and studios in Chicago and Seattle. But that's not everything, as Midway will be putting TNA Wrestling, its "Open World Games, Casual Games, and Full Classic IP Library" up for auction next month.

The publisher's "stalking horse" asset purchase agreement from the WB is expected to receive court approval, subject to higher or better bids, in a hearing on June 2.

"Following this hearing, there will be a period during which Midway, through its financial advisor, Lazard, will accept binding offers up to June 24th, 2009, to acquire some or all of the Company's assets," reads the official statement. "An auction will be held on June 29th to determine the bid or combination of bids that achieves the highest value, followed by a court hearing to approve the sale to the winning bidder or bidders on July 1st, and then a final closing."

The sale of goods includes classic IP like Spy Hunter, Rampage, Joust, Paperboy, Gauntlet and more, as well as unannounced games currently in production for a variety of platforms.