Midway hasn't made a smooth transition to the new generation – delayed releases and less-than-impressive titles hurt them in 2007 – and the publisher actually hasn't turned a profit since 1999. But perhaps Hollywood might be able to lend a helping hand.
According to the Chicago Tribune, Viacom Chairman Sumner Redstone, who owns close to a 90% stake in Midway, has said the company should be able to recover. His daughter, Shari Redstone, now has a "higher-profile" position at the helm of the board of directors and it seems the two are putting a family feud behind them and focusing on the future. More importantly, they hope to create a better future for Midway and gamers.
"In 2008, we plan to release an impressive slate of games and I will work closely with management … to continue pursuing exciting growth opportunities for Midway," said Shari Redstone in a statement released last week. In that same statement, her father said he fully backed his daughter and was "totally confident of Midway's success. I believe that this will become apparent as future events evolve."
Midway also plans to adopt the philosophy of fewer but "better" titles in 2008, and they also wish to pursue more movie-related video games. They may not be that great, but they have a great chance of turning a profit. So it seems Midway is going to shake things up in an effort to save their company, and if it works, we gamers will benefit.