Time extension: Midway gets extra month to pay off debts

Midway has picked up a time bonus, turning back the clock somewhat on its 50-day fast track to financial doom. The troubled Mortal Kombat publisher has negotiated some breathing room for itself, extending the deadline to pay back half of its crushing $150 million in debt by another month until February 19. Of course, this still leaves $75 million to fork over to investors in a couple weeks, though Midway notes that it is currently "in discussions" to push back the repayment of this debt as well.

When things are going south as quickly as they have gone for Midway, you take your victories where you can, though unless Midway expects next month's Diesel-fueled Wheelman to drive to the front door with a bag of cash, we wouldn't stop looking under the rug for loose change just yet.

[Via Variety]

This article was originally published on Joystiq.