PC Game News - Midway closes San Diego, Aussie studios

Chicago-based Midway Games has shuttered its San Diego and Adelaide, Australia, studios, according to Adelaide's The Advertiser. The closures will send more than a hundred staffers packing just two weeks before the Christmas holidays.

Midway's top executive in charge of worldwide studios, senior vice president Matthew Booty, traveled to Australia to deliver the news personally, according to the paper.

The Advertiser said the news caught the staff off guard, calling them "stunned" when Booty held an all-hands meeting about the closure Tuesday night.

Midway Games announced the purchase of the studio, formerly known as Ratbag, in August, tendering stock worth more than $7 million.

The closures may have been motivated by a string of losses the company has reported. Last month, the publisher reported a $29.1 million loss on revenues of $29.5 million (for the July-September quarter).

Posted on Friday - December 16, 2005 by John

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