THQ To Obtain Midway�s San Diego Studio

Midway filed a report with the U.S. Securities and Exchange Commission on Friday stating they have entered into a purchase agreement with THQ for the San Diego studio.

The sale of the studio will include all assets, except for the TNA iMPACT! video game. THQ has already offered at least forty of the current employees employment. The purchase price is $200,000. The transaction still has to be approved by the bankruptcy courts.

Midway�s European Subsidiaries will be broken up and sold to different companies for a total of approximately $1.7 Million.