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Viacom Sneaking Up On Midway Takeover?

Posted by simoniker on from the don't-wake-the-kombat dept.

Thanks to GameSpot for its article discussing more evidence that Viacom may be considering a takeover of publisher Midway, following Viacom CEO Sumner Redstone's increasing financial stake in the company. Redstone noted in an SEC document: "The management of Viacom Inc. has... considered the possibility of participating more extensively in the electronic games business... Midway could be considered as a potential licensee of Viacom intellectual property, or as an acquisition candidate." It's noted that: "Regardless of whether Viacom buys Midway, the filing clears the way with regulators for Midway to compete for Viacom licenses." In any case, with Warner Bros also making in-roads into the game market, it seems some larger media conglomerates are considering getting back into the games industry.

4 of 13 comments (clear)

  1. Re:So, what does it mean for us? by Anonymous Coward · · Score: 2, Funny

    Heh. Why not? Neither franchise can get much worse.

  2. Re:So, what does it mean for us? by geminidomino · · Score: 2, Funny

    If that means we don't get another crappy Star Trek movie for 4 years after he announces how awesome it's going to be, I think it's a GREAT plan!

  3. The death knell for Midway? by Peteroo · · Score: 5, Interesting
    A quote from Viacom documents included in the GameSpot story:

    "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."

    That's pretty funny! Viacom's been in the games business twice already and its track record does not exactly inspire confidence.

    Just within the last year or so, it closed down Simon & Schuster Interactive (home to a couple of interesting latter-day Star Trek games and Real War--though it is perhaps best known as the publisher of Panty Raider and Deer Avenger).

    Moreover, a game unit under Viacom's own name (Viacom New Media, perhaps best known for Virtual Stupidity and Dracula Unleashed) was shuttered in the late '90s.

    In view of past experience (not to mention Midway's tradition of red ink), how long will Redstone stay in the market this time around?

    Peter

  4. Hmm... by The+Analog+Kid · · Score: 2, Informative

    Harry Lang, Executive Director of Interactive Product Development for Paramount Pictures said in that Trek gaming was not dead and that there would be an announcement before the years-end could this be the first step in reviving Trek games? Is Viacom going solo and cutting out third party developers?