CHICAGO – February 15, 2005 – Midway Games Inc. (NYSE: MWY), a leading interactive entertainment software publisher and developer, today announced that it has signed three publishing agreements with Cartoon Network, licensed by Warner Bros. Interactive Entertainment, for video games based on three of the network's top-rated kids programs: Ed, Edd n Eddy, The Grim Adventures of Billy & Mandy and Dexter's Laboratory. Under the terms of the agreements, Midway secures multi-territory rights to develop and publish games for the console, handheld and PC platforms.
"Cartoon Network continues to be a leading creator of premier animated content and its programming has consistently ranked atop the charts for kids and tweens during day and prime time hours," said David F. Zucker, Midway president and chief executive officer. "We are delighted to be working with them and eager to launch our new children's lineup around such popular shows."
"Kids love Cartoon Network's programming as much as video games and our agreements with Midway are a perfect fit for both companies," said John Friend, senior vice president, Cartoon Network Enterprises. "We are excited to be working with Midway and eager to help make the launch of their children's line a success."
Ratings continue to rise for Cartoon Network making it a favorite choice for animated TV entertainment for kids 2-11, kids 6-11 and tweens 9-14, as the network achieved both ratings and delivery gains among every key demographic in 2004.
The agreements cover three of Cartoon Network's top original series, including:
# Ed, Edd n Eddy - A mainstay in the network's key weekly franchise, FRIDAYS, Ed, Edd n Eddy is Cartoon Network's number one series among boys 2-11. Cartoon Network is adding 26 new episodes, the first of which is scheduled to air alongside the game's expected debut in Fall 2005.
# The Grim Adventures of Billy & Mandy - Since its introduction, The Grim Adventures of Billy & Mandy has been one of the network's most popular series, particularly with boys. Happy-go-lucky Billy and cynical Mandy are best friends with the Grim Reaper in this crude supernatural comedy.
# Dexter's Laboratory - Dexter's Laboratory is an award-winning program about a boy genius with a secret science lab and was Cartoon Network's first original series and features 72 episodes, making it one of the largest series in rotation on the network.
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.
Midway has provided the www.cartoonnetwork.com link solely as a convenience for you. The information on these sites has been prepared by third parties, and Midway does not monitor, endorse or accept the responsibility for the content on non-Midway sites.
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.