TNA Impact 2

rizzla

http://www.gamespot.com/news/6202017.html?tag=latestheadlines;title;4

Midway is suffering a bit of a beating lately, with controlling shareholder Sumner Redstone selling his majority stake in the company for a paltry $100,000, and the change of ownership giving the publisher's debtors a chance to call in their loans. But if the publisher can endure this smackdown, it may find a "hot tag" waiting for it on the other side.

A Midway representative confirmed for GameSpot today that the publisher's 2009 slate includes not only the Vin Diesel-starring Wheelman, but also the second installment of the TNA Impact franchise. He did not address platforms or features for the game.

The first Impact launched in September on the Xbox 360, PlayStation 3, Wii, and PlayStation 2, receiving a positive critical reaction in the process. Originally announced for a 2007 release, Impact was developed by Midway's LA studio, which was folded into the publisher's San Diego operations towards the end of the development cycle.

Hopefully they can make the game the first one should have been. More moves and match types then this could be good. I really liked the fluid animations they had in the first one so if they just add more, of everything, I'd buy it.

Unfortunatly this may not happen due to Midways current financial state.

ShawnRaven

I'm not banking on a second, which is a shame because for their first outing, Impact wasn't that bad. It was missing a lot of stuff, nobody has ever really denied that but at the same time a second installment would have most likely rectified. The first sets of WWF games for the N64 were god awful, and No Mercy came from that.

But with financial constraints on Midway and the Global economic crisis (i hate that f*cking "recession" word), i honestly can't see it happening.

DRakE

i'd prefer 'recession' than 'global economic crisis'

ShawnRaven

DRakE wrote: »

i'd prefer 'recession' than 'global economic crisis'

Yet another informative post by drake, what a surprise. :rolleyes:

Machismo Fan

I fear that they might go the other way and rush out iMPACT 2 for a quick buck (or lack of).

ShawnRaven

I hadn't even thought of that

Machismo Fan

ShawnRaven wrote: »

I hadn't even thought of that

And that would not be fun. If they add more moves, Six Sides of Steel and KOTM that would please me to an extent (with updated roster).

ShawnRaven

Machismo Fan wrote: »

And that would not be fun. If they add more moves, Six Sides of Steel and KOTM that would please me to an extent (with updated roster).

It was missing moves, a decent create a wrestler function and a lot of match types. If those errors were corrected. We'd be doing well.

Machismo Fan

More realistic AI damage, people got up to quickly. To give them credit, they got the reversal system spot on that needs little change.

ShawnRaven

I'd say they're halfway there, it's just a case of working on what they already have.
Of course, that's only my personal opinion.

CMpunked

Machismo Fan wrote: »

More realistic AI damage, people got up to quickly. To give them credit, they got the reversal system spot on that needs little change.

Got up too quickly?!

I was in gamestop(when the game first came out) for a solid 40 minutes in an ultimate X match and no one could win! :mad:

I have never walked away when i know there is a line of about 4 8 year olds behind you awaiting a go.
But that day i did, i also decided based on that experience not to go near the game whatsoever!

TOPDAWG

I bought it on the PS2 for fifteen euro in Virgin....sorry Zavvi (still hate that!! its still Virgin but in black and green like!! Ugh!!:mad::mad:) and traded it in in Gamestop about a week later for a tenner. What a clusterf**k of a game, controls all over the place, moves very repititive but the one small/big thing tha really irked me was that only the start of a wrestlers entrance is shown, the part when they come out from the ramp!!! Come on like!! What a rip off, we all wanna see a wrestler hit the turnbucle and give their salute etc, its the climax/culmination of an entrance and thats one thing that THQ have excelled at throughout the years, their entrances are almost always spot on!! I bought Raw Vs Smackdown 2007 purely after seeing Kennedy's entrance on it!!

While ive moved away from watching WWE to TNA, hopefully Midway follow suit and offer some sort of a decent playable game for the followup.

p.s. i have consumed several beers at this stage!! :D:D

CMpunked

TOPDAWG wrote: »

I bought it on the PS2 for fifteen euro in Virgin....sorry Zavvi (still hate that!! its still Virgin but in black and green like!! Ugh!!:mad::mad:) and traded it in in Gamestop about a week later for a tenner. What a clusterf**k of a game, controls all over the place, moves very repititive but the one small/big thing tha really irked me was that only the start of a wrestlers entrance is shown, the part when they come out from the ramp!!! Come on like!! What a rip off, we all wanna see a wrestler hit the turnbucle and give their salute etc, its the climax/culmination of an entrance and thats one thing that THQ have excelled at throughout the years, their entrances are almost always spot on!! I bought Raw Vs Smackdown 2007 purely after seeing Kennedy's entrance on it!!

While ive moved away from watching WWE to TNA, hopefully Midway follow suit and offer some sort of a decent playable game for the followup.

p.s. i have consumed several beers at this stage!! :D:D

ah, the weekly friday drunk post.

Still, some good points made there.

Machismo Fan

http://ps3.ign.com/objects/143/14304510.html

TNA Impact! returns for another round of bone-crunching action.

This game has yet to be announced for any specific platform. Check back here for more details.
Genre: Wrestling
Also Available On: Xbox 360, PlayStation 2, Wii, PC
Release Date: December 29, 2009

Not sure really how much this means but IGN were quite close to the original iMPACT! game and have a decent relationship with TNA.

Fozzy

One of the Observers this week had a note on Midway's announcement of the game being a sort of ploy to make the company more attractive to possible investors and to make it appear that they're still fully intending to stay afloat to the people they owe money to. And if the company actually does keep running then they'll still have to rush the game, meaning that many of the bad things about the original game will probably still be there

Midway have less than two months to raise $150 million or they'll be declared bankrupt

CMpunked

Fozzy wrote: »

One of the Observers this week had a note on Midway's announcement of the game being a sort of ploy to make the company more attractive to possible investors and to make it appear that they're still fully intending to stay afloat to the people they owe money to. And if the company actually does keep running then they'll still have to rush the game, meaning that many of the bad things about the original game will probably still be there

Midway have less than two months to raise $150 million or they'll be declared bankrupt

They'll probably start selling licenses off for the mortal kombat games, that should make up $150 million.

rizzla

Sure if Midway does go bust, will the iMPACT video game be able to be licensed to another developer straight off the bat. I remember hearing EA where interested in the licence before Midway got it and with EA behind a TNA video game, there's a high possibility of it being bad but it will be marketed incredibly well.

Fozzy

rizzla wrote: »

Sure if Midway does go bust, will the iMPACT video game be able to be licensed to another developer straight off the bat. I remember hearing EA where interested in the licence before Midway got it and with EA behind a TNA video game, there's a high possibility of it being bad but it will be marketed incredibly well.

But the first game did so badly that it's not going to be something that really interests many companies now

Machismo Fan

Fozzy wrote: »

But the first game did so badly that it's not going to be something that really interests many companies now

Not really as bad reviews are a major contributor to the games failure so TNA could justifiably blame Midway and claim that the franchise is still quite valuable.

CMpunked

Fozzy wrote: »

But the first game did so badly that it's not going to be something that really interests many companies now

But would that not cause someone to say "We have the rights and we are going to show how this should have been done right.

JohnMc1

Machismo Fan wrote: »

I fear that they might go the other way and rush out iMPACT 2 for a quick buck (or lack of).

Hey they already ran the Mortal Kombat franchise into the ground by rushing the games out. Why should TNA games be any different? :rolleyes:

Fozzy

Bad news: http://www.f4wonline.com/content/view/7774/

Midway laid off 150-200 people today and closed down their Austin studios. Their main Chicago branch also laid off 20-25% of the staff, and the big news is that with the exception of Mortal Kombat they have suspended development on all future titles, including the proposed TNA Impact 2.

ShawnRaven

Fozzy wrote: »

Bad news: http://www.f4wonline.com/content/view/7774/

Comes as no surprise, much as i would have liked there to be a TNA Impact 2, between bad sales and the global economic downturn, there was about as much likely a chance of a snowball's survival in hell than there was in this game happening anytime in the near future.

rizzla

Mixed reports here, on a gaming website...

http://www.gamespot.com/news/6202368.html?tag=latestheadlines;title;1

Earlier this month, Midway Games lost its highest-profile supporter when media mogul Sumner Redstone ditched his majority stake in the publisher for just $100,000. That triggered change-of-ownership clauses in the company's loans, allowing creditors to demand repayment of $150 million within 30 days.

While it's still unclear how Midway (whose total assets amounted to less than $168 million as of September 30) will pay that debt, the publisher today instituted an array of cost-cutting measures to keep afloat. To start, the company will lay off 25 percent of its global workforce, roughly 180 full-time employees. Additionally, Midway plans to shut down its Austin, Texas, studio entirely and has suspended development on multiple unannounced "non-core" games previously scheduled for release in 2010 and 2011.

"The cost-reduction measures are vital for us to rationalize our operations and provide the resources necessary for our core properties to succeed," Midway president and CEO Matt Booty said in a statement. "These initiatives, along with the other steps we have taken this year, are a response to the specific challenges we are facing at Midway, many of which have been amplified by the current economic conditions."

The shuttering of Midway Studios Austin comes just months after the publisher had already made deep cuts to the operation. In August, Midway laid off roughly 90 of the 130 or so employees there, equal at the time to 10 percent of the publisher's global workforce.

Midway Studios Austin was originally known as Inevitable Entertainment until October of 2004, when Midway purchased the studio outright. Its previous games included Sierra Entertainment's multiplatform The Hobbit in 2003 and Tribes: Aerial Assault on the PlayStation 2. For Midway, the Austin studio revamped the Area 51 franchise with a 2005 first-person shooter on the PC, Xbox, and PlayStation 2. Midway Austin's final released project was last year's Blacksite: Area 51 for the PC, Xbox 360, and PlayStation 3.

As of press time, Midway shares were trading at $0.17, down about 10 percent from their previous close of $0.19.

Says they suspended development on unannounced games, Impact 2 was announced.

Still just wishful thinking, more than likely Midway will go bankrupt.

Fozzy

rizzla wrote: »

Says they suspended development on unannounced games, Impact 2 was announced.

Yeah, I've read another report that says that Impact 2 is one of only three games that are still in development: http://www.g4tv.com/thefeed/blog/post/691812/Midway_Lays_Off_25_Of_Staff_Suspends_Development_Of_Most_Games.html

In fairness, it was Alvarez who wrote that news update, not Meltzer. He's sometimes prone to wishful thinking with TNA :pac:

ShawnRaven

Fozzy wrote: »

In fairness, it was Alvarez who wrote that news update, not Meltzer. He's sometimes prone to wishful thinking with TNA :pac:

Do not get me started on the original Mexicant! :mad:

CMpunked

Midway has filled chapter 11...

Whatever that means?
Any business heads wanna translate this?

MIDWAY'S U.S. OPERATIONS FILE FOR CHAPTER 11 REORGANIZATION

Company notes strong underlying fundamentals, but cites recent change in control as the key trigger in need for planned, orderly reorganization

Midway's European operations are unaffected and continue business as normal
CHICAGO – February 12, 2009 – Midway Games Inc. (NYSE: MWY) today announced that the company and its U.S. subsidiaries filed voluntary petitions in U.S. Bankruptcy Court for the District of Delaware for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The filing does not include the company's non-U.S. operations, which will continue business as normal.
In its filing with the Bankruptcy Court, the company cited that the November 28, 2008, change in ownership triggered accelerated repurchase obligations relating to two classes of Midway [COLOR=blue ! important][COLOR=blue ! important]debt[/COLOR][/COLOR], which Midway anticipated it would be unable to satisfy.
"This was a difficult but necessary decision," said Midway Chairman, President and CEO Matt Booty. "We have been focused on realigning our operations and improving our execution, and this filing will relieve the immediate pressure from our creditors and provide us time for an orderly exploration of our strategic alternatives. This Chapter 11 filing is the next logical step in an ongoing process to address our capital structure."
"Midway enters this process with strong underlying fundamentals, as evidenced by solid fourth quarter sales that exceeded expectations in spite of a challenging retail and general economic environment," Booty added. "Overall, Mortal Kombat vs. DC Universe sales are approaching two million units shipped, TNA iMPACT! has shipped approximately one million units, and our Game Party franchise has sold close to three million units in total."
Midway expects that Chapter 11 protection will enable the company to conduct its business operations as usual. To that end, Midway is seeking approval from the court for a variety of First Day Motions enabling the company to continue managing its operations in the ordinary course. These motions are typical of the restructuring process, and approval is regularly granted.
About Midway
Midway Games Inc. (NYSE:MWY), headquartered in Chicago, Illinois, with offices throughout the world, is a leading developer and publisher of interactive entertainment software for major videogame systems and personal computers. More information about Midway and its products can be found at www.midway.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning future business conditions and the outlook for Midway Games Inc. (the "Company") based on currently available information that involves risks and uncertainties. These forward-looking statements include, without limitation, statements regarding the Company's expectations concerning the bankruptcy process, the continuation of day-to-day operations and payments to vendors and employees in the ordinary course. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of these risks and uncertainties, including, without limitation, (1) the impact of today's announcement on the Company's operations; (2) the ability of the Company to continue as a going concern; (3) the ability of the Company to obtain approval of and operate pursuant to the agreement with its secured creditor for the use of its [COLOR=blue ! important][COLOR=blue ! important]cash[/COLOR][/COLOR] collateral; (4) the ability of the Company to obtain court approval of the Company's first day papers and other motions in the Chapter 11 proceeding pursued by it from time to time; (5) the ability of the Company to develop, pursue, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; (6) risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, or the appointment of a Chapter 11 trustee or to convert the cases to Chapter 7 cases; (7) the ability of the Company to obtain and maintain normal terms with vendors and service providers; (8) the ability of the Company to maintain contracts that are critical to its operations; (9) potential adverse developments with respect to the Company's liquidity or results of operations; (10) the ability of the Company to fund and execute its business plan; (11) the ability of the Company to retain and compensate key executives and other key employees; (12) the ability of the Company to attract and retain customers; and (13) any further deterioration in the macroeconomic environment or consumer confidence. Discussion of additional factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations is set forth under "Item 1. Business - Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, and in more recent filings made by the Company with the Securities and Exchange Commission. Each forward-looking statement, including, without limitation, financial guidance, speaks only as of the date on which it is made, and Midway undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, except as required by law.

http://www.wrestlezone.com/article/tnas-video-game-company-files-chapter-11-58849

Kid Nothing

I'm not fully up on chapter 11 but as far as I remember they have 2 options:

a) sell the companies assets individually (i.e. hardware, R&D, franchises, etc) to pay off their creditors

or, more likely

b) allow the creditors to take control of the company and continue it's running, albeit on a probably scaled back level

I could be way off here but that's my understanding of it.

Fozzy

To put it in simpler terms, they've filed for bankruptcy

Kid Nothing

Fozzy wrote: »

To put it in simpler terms, they've filed for bankruptcy

Yeah basically, but it doesn't necessarily mean the company is going to close.

Fozzy

amull87 wrote: »

Yeah basically, but it doesn't necessarily mean the company is going to close.

I'd say it's pretty likely though. There's been no sign of hope for them for a long time now

Kid Nothing

The only reason i'd hold out hope is that their international affiliates haven't been affected by this, so there's a likelihood that some of these may pick up the slack on some of the decent franchises, having said that it's just as likely that they go bust completely.

It's wait and see time i guess

JohnMc1

I'm not surprised to hear that. In the last 10+ years they have only had one franchise title. Mortal Kombat and that should of been put out of its misery after 2. Its been downhill since since 3 and its a cow that's been milked too much now.

Machismo Fan

JohnMc1 wrote: »

Its been downhill since since 3 and its a cow that's been milked moo much now.

Oh, see what I did with that quote. Haha, I'll just go back into my corner. :(Hopefully someone else will pick up the franchise.