abhishreshthaa
Abhijeet S
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.
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.
Strengths
* Cost advantage
* Asset leverage
* Effective communication
* High R&D
* Innovation
* Online growth
* Loyal customers
Weaknesses
* Bad communication
* Diseconomies to scale
* Over leveraged fiancial position
* Low R&D
* Low market share
* No online presence
* Not innovative
Opportunities
* Acquisitions
* Asset leverage
* Financial markets (raise money through debt, etc)
* Emerging markets and expansion abroad
* Innovation
* Online
* Product and services expansion
Threats
* Competition
* Cheaper technology
* Economic slowdown
* External changes (government, politics, taxes, etc)
* Exchange rate fluctuations
* Lower cost competitors or imports
* Maturing categories, products, or services
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.
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.
Strengths
* Cost advantage
* Asset leverage
* Effective communication
* High R&D
* Innovation
* Online growth
* Loyal customers
Weaknesses
* Bad communication
* Diseconomies to scale
* Over leveraged fiancial position
* Low R&D
* Low market share
* No online presence
* Not innovative
Opportunities
* Acquisitions
* Asset leverage
* Financial markets (raise money through debt, etc)
* Emerging markets and expansion abroad
* Innovation
* Online
* Product and services expansion
Threats
* Competition
* Cheaper technology
* Economic slowdown
* External changes (government, politics, taxes, etc)
* Exchange rate fluctuations
* Lower cost competitors or imports
* Maturing categories, products, or services