NEWS - Sunday, August 22, 2004


Viacom To Purchase Midway?

Midway could soon be the publisher of valuable licenses from Nickelodeon and MTV, as Viacom CEO Sumner Redstone tightened his grip on the struggling publisher today. Redstone told regulators that Viacom is considering expanding into the video game business and might acquire Midway. The statement was contained in a filing the investor made with the Securities and Exchange Commission this morning. In the documents, Redstone revealed that "The management of Viacom Inc. has from time to time considered the possibility of participating more extensively in the electronic games business, possibly by acquiring a company in that industry. In this regard, Midway could be considered as a potential licensee of Viacom intellectual property, or as an acquisition candidate." Regardless of whether Viacom buys Midway, the filing clears the way with regulators for Midway to compete for Viacom licenses. Analyst reaction was swift. "We believe that Midway is unlikely to be acquired by Viacom, but we think that the company should be considered a candidate [for Viacom licensing deals] given Mr. Redstone’s large holdings," Michael Pachter, senior vice president of research at Wedbush Morgan Securities, said in a morning memo to investors. The news is a blow to rival publisher THQ, Pachter noted, which has been a Viacom licensee in the past. Redstone, who holds 73.6 percent of Midway’s stock--down from a reported 80 percent last month--said in early June that he was considering taking the Mortal Kombat-maker private. That same month, Redstone appointed his daughter, Shari, as vice chairman of Midway’s board and former VU Games chairman Kenneth Cron as CEO.
Source: http://www.gamespot.com

Site Statistics

Registered Members: 53,079
Forum Posts: 725,934
Xbox One Titles: 3,849
Xbox 360 Titles: 1,086
Xbox 360 Kinect Titles: 95
Xbox 360 Arcade Titles: 586
Original Xbox Titles: 987
Staff Reviews: 2,213
Member Reviews: 10,339
News Articles: 16,175
Screenshots: 35,635
Xbox 360 Achievements: 45,112
Xbox 360 Faceplates: 2,016
Cheat Codes: 1,706

Latest News





Free Expansion For Tails Of Iron Owners

Free Expansion For Tails Of Iron OwnersThe free expansion introduces a new post- game questline, two additional difficulty modes, five new bosses, a selection of special armours and weapons, and a secret that was perhaps better left forgotten...


Farming Simulator 22 Out Now

Farming Simulator 22 Out NowThe most extensive agricultural simulation to date, including a multitude of new features. From production chains forming agricultural empires, to crossplay multiplayer.


NERF Legends Out Now

NERF Legends Out NowBe the ultimate NERF legend in this fast- paced FPS featuring an exciting story campaign and online multiplayer for up to eight players!


See News Archives

Community Forum Activity

2021: XBA is still here
Post by shrew king
8 Replies, 20569 Views

Watch Dogs: Legion
Post by Nato King
0 Replies, 37144 Views

Xbox Series X or S
Post by Nato King
5 Replies, 50359 Views

Spellbreak Grand Magus Pack (3) and Starter Pack (7) Giveaway!
Post by Variation-XBA
0 Replies, 43872 Views

I pay $ 1000! I search the Element 54 Canadian launch Team signaturen Faceplate
Post by Smill
0 Replies, 44693 Views

Xbox one no signal
Post by debrartin
0 Replies, 60037 Views

do you remember?
Post by SnoochyBoochy
3 Replies, 62663 Views

i haz xbox
Post by SnoochyBoochy
0 Replies, 53267 Views

Claiming the first thread of 2020
Post by Kraft
7 Replies, 87915 Views

Important! I pay $ 1000! I search the Sweden launch and the Element 54 Faceplate
Post by Smill
3 Replies, 47035 Views

Squad Up
Post by samslophead
0 Replies, 100497 Views

TERA Skinned Xbox One X Giveaway!
Post by Variation-XBA
0 Replies, 73627 Views

Starfield Release expectations?
Post by DJ tx
4 Replies, 136892 Views

Issue with Xbox live on Xbox home
Post by rcmpayne
0 Replies, 91081 Views

Happy Birthday, Me.
Post by SnoochyBoochy
4 Replies, 113797 Views

© 2000-2021 XboxAddict.com - All rights reserved. All trademarks are properties of their respective owners.
Xbox is a registered trademark of Microsoft. XboxAddict.com is not affiliated with Microsoft.

Made in Canada
Site Design by Cameron Graphics