Bondholders have agreed to give beleaguered Unreal Tournament III and Mortal Kombat vs DC Universe publisher Midway until mid February to pay back part of its $150 million debt.
According to US-based newspaper the Chicago Tribune, holders of its convertible bonds due 2026 pushed back the date on which they can ask the company to repurchase their bonds in full. The new deadline is Feb. 19.
Midway is in similar discussions with holders of its 2025 convertible bonds, which total another $75 million.
The reprieve will do little to dampen fears over the future of the famous publisher. In mid-December, Midway cut about 25 percent of its staff, with most of the lay-offs in Chicago. Upcoming titles This is Vegas and Wheelman are still, however, in development.