Midway Dives Into Publishing Agreement With Cartoon Network For Multi-Territory Interactive Rights To Five Adult Swim Original Animated Series
CHICAGO - February 15, 2005 - Midway Games Inc. (NYSE: MWY), a leading interactive entertainment software publisher and developer, today announced that it has signed a multi-territory agreement with Cartoon Network, licensed by Warner Bros. Interactive Entertainment, to publish video games based on five of the network's ADULT SWIM programs: Aqua Teen Hunger Force, The Brak Show, Harvey Birdman, Attorney At Law, Sealab 2021, and Space Ghost Coast to Coast. Under the terms of the agreement, Midway has the rights to develop and publish games for the console, handheld and PC platforms. The first ADULT SWIM product is scheduled to ship in late 2006.
Adult Swim is Cartoon Network's late-night programming block of cartoons that appeal to a grown-up sense of humor and adult sensibilities such as superhero lawyers, talking food items and cranky talk show hosts.
"Cartoon Network is known for creating programming that is cutting-edge in its presentation and content, and thus perfectly suited for video games," said David F. Zucker, Midway president and chief executive officer. "The built-in fan base and popularity of ADULT SWIM affords us a critical stepping stone towards success."
"ADULT SWIM is a phenomenon with young adult viewers who identify with the edgy, irreverent tone of the shows and the block," said John Friend, senior vice president, Cartoon Network Enterprises. "Clearly, lots of ADULT SWIM fans are avid gamers, and we look forward to working with Midway to make games the fans will love."
Young adults are flocking to Cartoon Network in record numbers, thanks primarily to ADULT SWIM, which in 2004 set new network records for total delivery of adults (18-34 and adults 18-49). Research indicates that Cartoon Network is watched by more adults (18-34) than E! Entertainment, USA, Discovery, TV Land, CNBC, A&E and VH1, among others.
The ADULT SWIM properties include:
- Aqua Teen Hunger Force -- Aqua Teen Hunger Force is an animated comedy about human-sized food products that live together in a rental house in New Jersey. Master Shake, the self-appointed leader is a miserable crank. Frylock, the most reasonable member of the group, happens to be a box of french-fried potatoes. Meatwad rounds out the squad, with his - you guessed it - round mound of meat. Together they are Aqua Teen Hunger Force. Sometimes they solve the mysteries of New Jersey. More often, they hang out in their neighbor Carl's above-ground swimming pool.
- The Brak Show -- The Brak Show is set somewhere in outer space, but it looks an awful lot like any American suburb, circa 1965. The show follows the formative years of Brak and his best pal Zorak, both of whom attend Learnmore High. Brak's Dad, a small human man with a vaguely Latin accent, loves reading the paper and giving nonsensical advice. Brak's mother is supportive and quite a dish, in a June Cleaver as a space monster kind of way. Zorak leads Brak into all kinds of trouble like stealing the mascot of Learnmore High's rival just before the big game, overfeeding a neighbor's fish or stealing a magic candy bar. In the end, everything always turns out just fine and there's even usually time for a song.
- Harvey Birdman, Attorney At Law -- once a third-rate superhero, Harvey Birdman is now a third-rate lawyer trying like hell to get by in a fancy law firm. It's not clear whether Harvey actually went to law school, but he definitely knows the things to say to sound like a lawyer. And he has a suit now, that's for sure.
- Sealab 2021 -- The year is 2021, and deep below the ocean's surface lies a vast, high-tech compound: Sealab. This multinational effort has been designed to explore the viability of underwater colonization and uncover the mysteries of the sea. Unfortunately, it's run by a bunch of idiots.
- Space Ghost Coast to Coast -- Space Ghost Coast to Coast is the planet's only late-night talk show hosted by a cartoon superhero. Days when mere men in coats and ties ruled the late-night universe have gone the way of The Chevy Chase Theater, but Space Ghost is fully costumed and on the scene with an array of superpowers. Space Ghost Coast to Coast combines celebrity interviews and assorted nonsense for the weirdest talk show in the universe. Space Ghost is joined by archenemies Moltar and Zorak, whom he has enslaved as unwilling members of his late-night crew. Guests on Space Ghost Coast to Coast have been an eclectic mix, including Tenacious D, Bjork, Donny Osmond, Charlton Heston, The Ramones, Lassie and Fran Drescher. But not Don Rickles.
About Midway
Headquartered in Chicago, IL with offices in San Diego, CA, Seattle, WA, Austin, TX , Los Angeles, CA, Munich, Germany and London, UK, Midway Games Inc. (NYSE: MWY) is a leading developer and publisher of interactive entertainment software for all major video game systems. More information about Midway can be obtained at www.midway.com.
About Cartoon Network
Cartoon Network, currently seen in 87.3 million U.S. homes and 160 countries around the world, is Turner Broadcasting System, Inc.'s 24-hour, ad-supported cable service offering the best in animated entertainment. Drawing from the world's largest cartoon library, Cartoon Network showcases unique original ventures such as Foster's Home for Imaginary Friends, Codename: Kids Next Door, Ed Edd n Eddy, Teen Titans, The Grim Adventures of Billy And Mandy, The Powerpuff Girls, Samurai Jack, and other Cartoon Cartoons. Cartoon Network also features Adult Swim, its signature late night block of animation for grownups. Since its launch in 1992, Cartoon Network has remained one of ad-supported cable's highest-rated networks. Cartoon Network's web site is located at www.CartoonNetwork.com.
Turner Broadcasting System, Inc., a Time Warner company, is a major producer of news and entertainment products around the world and the leading provider of programming for the basic cable industry.
About Warner Bros. Interactive Entertainment
Warner Bros. Interactive Entertainment Inc., a Warner Bros. Entertainment Company, is a premier licensor and a developer of entertainment content for the interactive space across all current and future platforms, including consoles, PC-based gaming and wireless applications.
This press release contains forward-looking statements concerning future business conditions and the outlook for Midway Games Inc. (the "Company") based on currently available information that involve risks and uncertainties. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of these risks and uncertainties, including, without limitation, the financial strength of the interactive entertainment industry, dependence on new product introductions and the ability to maintain the scheduling of such introductions, the upcoming console platform transition and other technological changes, dependence on major platform manufacturers and other risks more fully described under "Item 1. Business - Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2003, and in the more recent filings made by the Company with the Securities and Exchange Commission.
For More Information Contact:
Reilly Brennan
Midway - Media Relations
773-961-2557
Miguel Iribarren
Midway - Investor Relations
773.961.2222