We knew Midway's demise was a sad and shameful whimper, but today is the day where its dignity truly died. It's been revealed that Midway's managing director for Europe Martin Spiess has bought the firm's UK and France offices for a single Euro. That's less than a quid. Under two bucks. Whatever your currency, it went cheap. Supercheap.
The true cost, however, comes with certain obligations stemming from Midway's demise, most notably "a payment of approximately One Million Seven Hundred Thousand Dollars ($1,700,000) from [Midway Games Limited] to [Midway USA]." Spiess has ninety days to sell any Midway stock that his company has as well. The actual offices may have come at a bargain price, but Spiess has his work cut out for him.
Quite what Spiess has up his sleeve is anyone's guess at the moment. In the meantime, this is just another chapter in Midway's grim saga. Quite a strange one at that.
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5:00 PM on 06.25.2014