After a sale and bid procedures motion was filed by Midway in late May, which served to notify potentially interested third-parties that a sale to Warner Bros. (a subsidiary of Time Warner, Inc.) was imminent, giving those third-parties an opportunity to put in their own bid for Midway and its assets, it appears as though Warner Bros. has emerged as the sole bidder before the deadline for new bids recently expired.

Now, with a bid of $33 million, Warner Bros. stand to secure ownership of a vast majority of Midway’s assets, including the Mortal Kombat, Spy Hunter, Joust and Wheelman franchises, as well Midway’s development studios in Chicago and Seattle.

The fate of Midway’s Newcastle and San Diego offices, which are not included in the deal, remains unclear at this time.

Before Warner Bros. can officially claim ownership of the agreed upon assets, however, several creditor complaints will need to be resolved, including one by Threshold Entertainment’s Larry Kasanoff, who produced two Mortal Kombat films and still claims possession of the franchise’s big-screen and TV distribution rights, and another complaint by the Vin Diesel-owned Tigon Studios, which claims it is owed $200 000 for Diesel’s work in Wheelman.