Midway sells San Diego studio to THQ

Bankrupt publisher Midway is continuing to drop its assets, now selling its San Diego studio to THQ and its French and German divisions to smaller entities. THQ reportedly purchased the development studio behind the TNA Wrestling franchise for $200,000 plus liabilities and paid time off for retained staff. It is expected that THQ will offer employment to at least 40 of the studio's 100 workers.

Excluded in THQ's acquisition is the contract with a TNA video game being developed, as well as the third-party tools being used in that game's creation. Being that THQ presently holds licenses for both WWE and UFC games, it may use the studio to advance those franchises. It recently said in a conference call that it had intentions to extend UFC to new game platforms.

This news follows Midway's move to lay off 20% of its global workforce a few weeks ago. The developer also recently sold a vast majority of its US assets to Warner Bros. Entertainment for $33 million.