netrashetty
Netra Shetty
Midway Games, Inc. (formerly Midway Manufacturing) is an American corporation. Following a bankruptcy filing in 2009, it is currently liquidating all of its assets. Founded in 1958 as an amusement game manufacturer, it became a video game publisher and developer in 1973. Midway published and developed titles such as Mortal Kombat, Ms.Pac-Man, Spy Hunter, Tron, Rampage and NBA Jam. Midway also acquired the rights to video games that were originally developed by Williams Electronics and Atari Games, such as Defender, Joust, Robotron 2084, Gauntlet and the Rush series.
Midway was purchased and re-incorporated in 1988 by WMS Industries Inc. In 1998, it became an independent public company. The company began in the arcade game business, scoring its first hit with the U.S. distribution of Space Invaders in 1978. After many years as a leader in the arcade segment, Midway moved into the growing home video game market beginning in 1996, the same year that it made its initial public offering of stock. Midway was listed as the #19 video game publisher in September 2005 and the #20 in September 2006 by the magazine Game Developer.[2]
After 2000, although Midway continued to develop and publish video games for each new generation of home and handheld video game machines, Midway experienced annual net losses. In response, the company engaged in a series of stock and debt offerings and other financings and borrowings. Sumner Redstone, the head of Viacom/CBS Corporation, was a large investor in the company since the 1990s. He increased his stake in Midway from about 15%, in 1998, to about 87% of Midway by the end of 2007.[3] In December 2008, Redstone sold all his stock to Mark Thomas, a private investor, for $100,000, and Midway extended $70 million of new loans to Thomas.[4]
In February 2009, Midway Games filed in Delaware for Chapter 11 bankruptcy.[5] In July 2009, Warner Bros. purchased most of Midway's assets for $33 million plus receivables, realizing about $49 million from the transaction. At the same time, Midway settled with its former majority owner, Mark Thomas, to relinquish his common stock in Midway, which continued to operate as a Debtor in Possession.[6][7] The Midway Chicago studio, responsible for the Mortal Kombat series, among other games, became part of Warner Bros. Interactive Entertainment and has been rebranded NetherRealm Studios.
Chairman of the Board
Matthew Booty
CFO
Ryan O'Desky
International of Midway Games
MS
Legal
DF
Publishing
The global matrix structure attempts to organize activities by two (or more) managerial dimensions-like product, geography, and/or market. For example H. J. Heinz has simultaneously geographic divisions in North America, Europe, Australia/New Zealand, and emerging markets (selected countries in Asia and eastern Europe); several product categories, namely ketchup/condiments/sauces, meals and snacks (including frozen foods), soups/beans and pasta, and infant feeding; and separate operations for retail and food service channels. In a global structure these various departmental and business divisions may have necessary aspects of local focus, but essentially they work together for implementing the firm's global strategy.
Processes: Finally, and very importantly, structure implies processes such as coordination, integration, and information systems. These processes tend to be pronounced in the global structure, and generally very common in contemporary organizations. Kwangsoo Kim and Jong-Hun Park identify four generic integrating mechanisms: (1) people-based integrating mechanisms that use people to coordinate business operations across borders, involving the transfer of managers, meetings, teams, committees, and integrators; (2) information-based integrating mechanisms use information systems such as databases, electronic mail, Internet, intranet, and electronic data interchanges to integrate business operations across borders; (3) formalization-based integrating mechanisms rely on the use of standardized or common work procedures, rules, policies, and manuals across units; and (4) centralization-based integrating mechanisms retain decision-making authority at the corporate headquarters-a similar concept to that in the "locus of strategic responsibility" section above.
The more global the firm, the more it uses these processes. Intel, for example, uses relatively few formal structural mechanisms, but several cross functional teams-including information technology (IT), knowledge management, human resources, finance, legal, change control, data warehousing, common directory information management, and cost reduction teams-as integrating processes that allow them rapid adaptation to changing conditions. Integrating mechanisms can also have negative effects-perhaps tying the hands of local managers, imposing compliance costs (both time and other resources), and creating unintended bureaucratic barriers to efficient decision making. A study by David Brock and Ilene Siscovick, for example, found effects of integrative factors at subsidiary level were often negative.
Midway was purchased and re-incorporated in 1988 by WMS Industries Inc. In 1998, it became an independent public company. The company began in the arcade game business, scoring its first hit with the U.S. distribution of Space Invaders in 1978. After many years as a leader in the arcade segment, Midway moved into the growing home video game market beginning in 1996, the same year that it made its initial public offering of stock. Midway was listed as the #19 video game publisher in September 2005 and the #20 in September 2006 by the magazine Game Developer.[2]
After 2000, although Midway continued to develop and publish video games for each new generation of home and handheld video game machines, Midway experienced annual net losses. In response, the company engaged in a series of stock and debt offerings and other financings and borrowings. Sumner Redstone, the head of Viacom/CBS Corporation, was a large investor in the company since the 1990s. He increased his stake in Midway from about 15%, in 1998, to about 87% of Midway by the end of 2007.[3] In December 2008, Redstone sold all his stock to Mark Thomas, a private investor, for $100,000, and Midway extended $70 million of new loans to Thomas.[4]
In February 2009, Midway Games filed in Delaware for Chapter 11 bankruptcy.[5] In July 2009, Warner Bros. purchased most of Midway's assets for $33 million plus receivables, realizing about $49 million from the transaction. At the same time, Midway settled with its former majority owner, Mark Thomas, to relinquish his common stock in Midway, which continued to operate as a Debtor in Possession.[6][7] The Midway Chicago studio, responsible for the Mortal Kombat series, among other games, became part of Warner Bros. Interactive Entertainment and has been rebranded NetherRealm Studios.
Chairman of the Board
Matthew Booty
CFO
Ryan O'Desky
International of Midway Games
MS
Legal
DF
Publishing
The global matrix structure attempts to organize activities by two (or more) managerial dimensions-like product, geography, and/or market. For example H. J. Heinz has simultaneously geographic divisions in North America, Europe, Australia/New Zealand, and emerging markets (selected countries in Asia and eastern Europe); several product categories, namely ketchup/condiments/sauces, meals and snacks (including frozen foods), soups/beans and pasta, and infant feeding; and separate operations for retail and food service channels. In a global structure these various departmental and business divisions may have necessary aspects of local focus, but essentially they work together for implementing the firm's global strategy.
Processes: Finally, and very importantly, structure implies processes such as coordination, integration, and information systems. These processes tend to be pronounced in the global structure, and generally very common in contemporary organizations. Kwangsoo Kim and Jong-Hun Park identify four generic integrating mechanisms: (1) people-based integrating mechanisms that use people to coordinate business operations across borders, involving the transfer of managers, meetings, teams, committees, and integrators; (2) information-based integrating mechanisms use information systems such as databases, electronic mail, Internet, intranet, and electronic data interchanges to integrate business operations across borders; (3) formalization-based integrating mechanisms rely on the use of standardized or common work procedures, rules, policies, and manuals across units; and (4) centralization-based integrating mechanisms retain decision-making authority at the corporate headquarters-a similar concept to that in the "locus of strategic responsibility" section above.
The more global the firm, the more it uses these processes. Intel, for example, uses relatively few formal structural mechanisms, but several cross functional teams-including information technology (IT), knowledge management, human resources, finance, legal, change control, data warehousing, common directory information management, and cost reduction teams-as integrating processes that allow them rapid adaptation to changing conditions. Integrating mechanisms can also have negative effects-perhaps tying the hands of local managers, imposing compliance costs (both time and other resources), and creating unintended bureaucratic barriers to efficient decision making. A study by David Brock and Ilene Siscovick, for example, found effects of integrative factors at subsidiary level were often negative.
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