Midway announced in a press release (February 12, 2009) that it has “filed voluntary petitions in U.S. Bankruptcy Court for the District of Delaware for reorganization under Chapter 11 of the U.S. Bankruptcy Code.”

According to the press release, the company’s recent ownership switch led to to “accelerated repurchase obligations” of debt that the company knew it could not repay. The protection will allow the company to “conduct its business operations as usual…”

As we reported last month (December 2008), Midway Games is in dire financial straits. Creditors could have demanded payment this month (January 2009) but have instead opted to extend the payment deadline to February 19, 2009.

Finances became even more of an issue for Midway when then majority shareholder Sumner Redstone unloaded his controlling interest for only $100,000 to investor Mark Thomas. The change in control triggered clauses in Midway’s debt agreements allowing noteholders to come a-callin’ right now.

Wedbush-Morgan analyst Michael Pachter told GamePolitics the move is…

Many gamers are still curious as to why Midway wasn’t exactly forthcoming about Mortal Kombat Vs. DC Universe‘s fatalities and “heroic brutalities”. After all, isn’t it one of the staples of the over-the-top MK series, and one of the selling points of the latest title? Well, one very thorough forum poster took it upon himself (or herself) to list all the button combos that will earn you the special death animations – for every character, in both versions of the game. In fact, the list is incredibly comprehensive, with color-coding for direction and two versions of the list for finishing off on the left or the right of your opponent. That, my friends, is dedication.

After posting a $76 million loss in revenue for the third quarter, Midway has been issued a delisting notice from the New York Stock Exchange. According to GameSpot UK, the notice came after the struggling developer failed to close above $1 a share, the minimum required closing price for the New York Stock Exchange, within 30 days of trading.

In order to avoid being delisted, Midway must…

I sure hope Mortal Kombat vs. DC Universe is a good game.

Actually, I hope it is a great game not only because I consider myself a fan of the series but because it may be the only way in which Midway can pull itself out of the proverbial fire.

The company has been struggling of late to the point where it has had to go through some extreme measures just to complete one of its high-profile games. These struggles have resulted in staff members being handed pink slips in its Austin, TX (USA), studio.

Sadly, it’s looking like more…

Last week, Midway released details about the Kollector’s Edition of Mortal Kombat vs. DC Universe (MK vs. DC) which will be launching alongside the regular version of the game on the Xbox 360 and Playstation 3 next month (November 16, 2008 in North America; November 21, 2008 in Europe).

As previously detailed, the Kollector’s Edition will feature box artwork and a removable print by comic book artist Alex Ross (known for his work on the Kingdom Come series, among others) as well a 16-page comic book by co-creator of the Mortal Kombat franchise John Tobias…

Midway Games’ latest installment in the long running Mortal Kombat fighting series, Mortal Kombat vs. DC Universe (MK Vs. DC), will pit characters from the two franchises against each other when it launches on the Xbox 360 and PlayStation 3 in November 2008.

To celebrate the game’s launch, Midway will be releasing a special “Kollector’s Edition” of MK Vs. DC in North America next month. It will feature hand-painted box artwork by respected comic book artist Alex Ross, a removable print by Ross and bonus video content.

While all of the Mortal Kombat characters and DC villains will have access to the series’ trademark “fatalities” (powerful finishing moves), the goody two-shoes DC heroes will have their fatalities replaced by…

Midway has finally released the full roster for upcoming fighter Mortal Kombat vs DC Universe – a leak apparently prompted the official release. The final four on the list are: (drumroll, anyone) Shao Kahn, Darkseid, Baraka and Lex Luthor. Yep, in case you missed good old snaggletoothed Baraka, he’s back in action. The game is due out in November on the PS3 and Xbox 360. Fans of fighters, wacky MK antics, and the DC universe heroes and villains should snap it up.

The full list, from Midway’s press release:

Now that Comic-Con 2008 is behind us it’s time to for a quick recap of the games that was shown there. Just about any game-based on comic books had a huge presence at this years show. We learned some new things about DC Universe Online and Street Fighter IV.

There’s plenty more games to talk about so let’s get right into it. Click through for the videogame highlights form Comic-Con 2008…