US parent's woe forces studio to seek rescue
Jun 18 2009 By Andrew Mernin, The Journal
He has been in negotiations with games firms, technology companies and investors in the UK and US to save the studio, which has gained global recognition for a string of titles.
He has also been liaising with other developers in the region who would see the collapse of the Gateshead studio as a major blow to a blossoming North East industry.
He said: "I’m confident in our offering, the ability of the team and our business proposition. I’m not confident in the economy or the wider business market currently. What I am sure of is that if we cannot secure the future of the studio, it will not be through lack of effort. Everything that can be done is being done to save the business."
"Regarding other [North East] developers, I have certainly been in contact with them and they don’t want to see a good North East studio disappear as it hurts the regional capability."
Meanwhile, should Midway fail to meet the deadline, staff are prepared for the worst and steps have been taken to safeguard their jobs.
"We are actually in consultation with the staff currently as there is a real prospect of the studio closing. We have been really straight and honest with the staff throughout. The actual date of closure is still unknown as this depends on the bid process and how things end up concluding." Development agency One North East has mobilised a team to support the company though this tough period and has put forward some venture capital and funding options which Mr Duncan is following up.
Midway started life more than 50 years ago, making mechanical amusement machines, and decades later helped bring gaming classic Space Invaders to the Western world.
Despite facing a period of potential upheaval, its developers in Team Valley are working on a major project called Necessary Force which harnesses the latest 3D graphics technology.
The team has worked on international bestsellers including Wheelman, LA Rush and the Test Drive franchise.
