THQ acquires Midway San Diego studio

All assets of bankrupt publisher's studio go for $200,000

THQ has agreed to acquire "substantially all" of the assets related to bankrupt publisher Midway Games' San Diego studio for $200,000.

The deal does not include the TNA wrestling franchise developed at the San Diego studio and is still subject to approval by the court handling Midway's Chapter 11 bankruptcy proceedings, according to a US Securities and Exchange Commission filing.

THQ has made job offers to at least 40 of the 100 employees currently working at the studio, reports the Chicago Tribune.

Midway also said in the filing that it is to sell all the shares of its in German, French and English subsidiaries to Europe-based Midway executives who will leave the company when the deals go through.

Warner Bros. recently acquired the majority of Midway's US assets, including the Mortal Kombat franchise, in a deal worth around $49 million. Midway's Newcastle and San Diego studios were not included in the transaction with Warner. The former is now closed.

Article supplied by Edge-Online