- Midway has filed for Chapter 11 bankruptcy. The protection afforded by Chapter 11 was necessary as the company owed out millions that needed to be repaid as a result of the company's recent sale. Midway head Matt Booty was quoted as saying "we have been focused on realigning our operations and improving our execution, and this filing will relieve the immediate pressure from our creditors and provide us time for an orderly exploration of our strategic alternatives. This Chapter 11 filing is the next logical step in an ongoing process to address our capital structure."
- Square Enix has put in a $120 million bid to buy Eidos, which is more than the company is actually worth. Eidos' stock price shot up on the news as people attempt to get in for lower than the buyout premium. The board of directors for Eidos are in favor of the deal and state that it's "in the best interests of shareholders."
- The recent layoffs over at Sega have apparently included some project cancelations. Obsidian's Aliens RPG--which it was producing for Sega--is said to be canceled and some number of Obsidian employees have been laid off.
- Gamasutra is reporting that Bandai Namco is working to buy D3 Publisher. BNGI has stated that it's already reached an agreement to purchase 70 percent of D3, but it wants the WHOLE THING FOR ITSELF so that it can properly... you know... synergize or something.
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