Midway Shuts Down Australian Studio
Ratbag shuts its doors just four months after being purchased by Midway.  December 15th, 2005 (1:53pm) - Just last month Midway revised its financial forecast following the company’s net loss of an estimated 29 million dollars. Apparently, Midway hasn’t been having the greatest year, but neither are the employees of Australian game developer Ratbag.
Four months ago, Midway had acquired Australian-based developer Ratbag, which was renamed to Midway Australia with the acquisition. Today, Midway Australia no longer exists... the studio has been shut down, leaving more than 70 people jobless. Midway’s senior vice president, Matthew Booty, delivered this news in person to the staff of the Midway Australia. According to the Adelaide Advertiser, the staff of the studio were completely stunned by the announcement. Greg Siegele and Richard Harrison, the two men who established Ratbag in 1994, had privately spoken with Booty in attempt to reverse the company’s decision, but unfortunately their efforts failed. Ratbag is best known for their Powerslide arcade racer and had currently been in development with a number of unannounced game project for current and next-gen game consoles. Midway has yet to make an official statement. Reported by Elias Dounis on December 15th, 2005 (1:53pm)
More Recent News
+ SEGA Announces Publishing Agreement with Platinum Games (May 15, 2008 5:09pm)
+ Wii Tops NPD Hardware for April (May 15, 2008 5:02pm)
+ Rick Nash of Columbus Blue Jackets to be Cover Athlete for NHL 2K9 (May 15, 2008 4:53pm)
+ Assault Heroes 2 Now Available for XBLA (May 15, 2008 4:36pm)
+ Lost Planet: Extreme Condition Colonies Goes Gold (May 15, 2008 4:35pm)
| 
