Midway has been having a great deal offinancial troubles recently, and now it seems it’s catching up with them. GameSpot reports that the struggling developer has been served a delisting notice by the New York Stock Exchange, due to failing to reach an average closing price of $1 per share for the last 30 days of trading.
Now, in order to avoid "further delisting actions" (presumably, actually being delisted), Midway must raise their shares within the next six months. Midway responded by saying it "plans to notify the NYSE that it will seek to cure the deficiency." ("Cure the deficiency" -- now there’s some euphemistic language).
For Midway, much now depends on how well Mortal Kombat vs. DC Universe is received, as it’s their only big holiday game this year other than Blitz: The League 2. The developer said it also hopes to recover some losses through continued sales of older titles like TNA Impact!, Mortal Kombat Kollection, and the Xbox 360 version of Unreal Tournament 3.
- •Midway Closes Corporate Office
- •Amid Midway / Warner Bros. transition, Midway name up in the air
- •Midway Newcastle Struggles for Life
- •Midway Sets Itself Up for Auction
- •Midway Owners, Board Members Sued by Creditors
- •Midway May Be Purchased by Warner Bros.
- •Midway Price Tag at $30 Million
- •Rumor: Three companies looking to purchase Midway
- •Midway teases new game, details expected soon
- •Midway Looking to Unload Mortal Kombat
- •Midway owes millions to Epic, NBA, Warner Bros and many more
- •Midway Safe Until February 12
