Report: TNA Owed Over $100,000 by Midway Games

Bill Behrens

Among the long list of creditors in Midway’s Chapter 11 filing is TNA, owed $160,000.  TNA is still in business with Midway on the sequel to the inintial TNA game, and TNA talent has recently been to LOos Anhgeles for voice over & motion capture work including AJ Styles & Christopher Daniels with more talent schedule soon.

http://www.gamepolitics.com/2009/02/13/list-bankrupt-midway039s-creditors?%3F

Yesterday, GamePolitics and other outlets reported that financially-troubled Midway, publisher of the Mortal Kombat series, had filed for Chapter 11 bankruptcy protection.

Since that time GamePolitics has combed through federal court records for additional insights into Midway’s status. We’ve learned, for example, that Midway claims $167,523,000 in assets versus $281,033,000 in liabilities.

Perhaps more interesting, however, is the list of Midway’s top 30 creditors. Among these, Wells Fargo Bank has the most to lose. The troubled game publisher owes the bank an eye-popping $150,000,000 of unsecured loans.

Others holding sizeable Midway IOUs include the current owner of the company, its former CEO and a variety of game retailers and licensees:

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

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