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Gaming News - Midway or Bust...Oh, nevermind. PDF Print E-mail
Written by Kevin Atwood   
Monday, 16 February 2009 01:31
Flawless...

The site, GamePolitics.com has been going through records from federal courts for insights into Midway's financial meltdown. Boiling down that Midway claims $167,523,000 in assets versus $281,033,000 in liabilities.

The list of Midway's 30 top heavy hitting creditors is staggering. Among these, Wells Fargo Bank has the most to lose as Midway owes them $150,000,000 from unsecured loans.

Others holding some of the larger Midway IOUs include the former CEO, the current owner of the company, and a variable who’s who of game retailers and licensees:

  1. Wells Fargo Bank - $150,000,000
  2. Acquisition Holdings Subsidiary  - $40,000,000 unsecured loan (Thomas is the mystery man who purchased Midway late in 2008)
  3. National Amusements, Inc. - $20,147,864
  4. NBA Properties, Inc. - $17,294,849  (License/royalty settlement)
  5. Tangible Media, Inc. - $8,675,954
  6. Warner Bros. Interactive - $6,654,203
  7. Artificial Mind & Movement - $2,000,000
  8. Epic Games - $1,975,000 (License/Royalties)
  9. Walmart - $1,576,035
  10. Far Sight Technologies - $1,279,151
  11. Best Buy - $1,114,036
  12. Target - $934,156
  13. Technicolor Video Services - $637,769
  14. Toys R Us - $615,276
  15. Ditan/Synergex Canada - $578,316
  16. CBS Outernet - $314,600 
  17. David Zucker - $300,000 (severance pay)
  18. Multi Packaging Solutions - $287,036
  19. A.A.F.E.S Headquarters - $276,314
  20. Kmart - $218,497
  21. Tigon Studios - $200,000(license/royalties)
  22. Hollywood Entertainment - $190,982
  23. TNA Entertainment - $160,000 (license/royalties)
  24. Professional Films, Inc. - $150,000
  25. Synergex - Latin America - $149,027
  26. Pioneer.JB Marketing - $133,353
  27. Eclipse Advertising - $132,687
  28. GameStop - $127,250
  29. Sears, Roebuck - $125,495
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Last Updated on Monday, 16 February 2009 23:19
 

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