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Mortal Kombat developer Midway is to sell some of its accounts receivable to National Amusements Inc (NAI) to fund industry and manufacturing of its autumn lineup.
The Chicago-based developer suffered heavy net losses and a 26% drop in revenue in its second fiscal quarter and is hoping to raise up to $40 million (£20 million) through the factoring agreement to fund forthcoming releases TNA Impact, Blitz: The League II, and Mortal Kombat vs. DC Universe.
NAI director Shari Redstone, who is also chairperson of Midway, said: "With the additional resources provided through this agreement, I believe Midway will be well positioned to capitalise on the release of these highly anticipated products and lay the foundation for the growth of these franchises."
