Midway's CEO exits

By Tom Magrino, GameSpotPosted Mar 20, 2008 2:47 pm PT

Following flaccid fiscal-year results, publisher parts with David Zucker after five-year run; SVP Matthew Booty named interim chief.

At the beginning of 2007, Midway Games CEO David Zucker painted GameSpot a rosy portrait of the publisher's upcoming calendar year. He lauded a number of projects that were slated to come to fruition, including Wheelman, Touchmaster DS, and Epic Games' Unreal Tournament III.

David Zucker

However, proving the old adage that all that glitters is not gold, Zucker's projections didn't quite pan out according to plan. Although they performed well enough, UTIII and the internally developed Stranglehold both suffered from delays and staggered release schedules that hampered profitability, and in August, Wheelman was bumped to 2008. It also didn't help that Midway Austin's BlackSite: Area 51 and Hour of Victory bombed both critically and commercially.

Earlier this month, Midway reported full-year fiscal results that were lower than already-downsized expectations. However, even those already-disappointing figures weren't entirely accurate, given that the publisher said yesterday in a filing with the Securities and Exchange Commission that fiscal-year losses stood at $1.09 per share, as opposed to the $1.07 it initially reported.

Following this revelation, Midway said in succinct fashion today that Zucker is "leaving the company," and that senior vice president of worldwide studios Matthew V. Booty would serve as his interim replacement until a permanent new chief has been decided upon. Booty joined Midway in 1991, and according to the publisher, has held "progressively more responsible positions" since that time.

"Dynamic new leadership is needed to bring Midway to its full potential," said Midway chairwoman Shari Redstone in a statement. "I believe that Midway has the resources and creative capability to once again be competitive with the best in the videogame business. The Board is confident that a new CEO will be selected who can fully utilize the opportunities presented by this next-generation console cycle to renew Midway's position as a major player in the videogame industry."

41 Comments

  • InternetDJ

    Posted Oct 9, 2009 9:52 am PT

    Glad midway has been having problems-there games suck anyways.

  • dj_c4

    Posted Aug 11, 2008 2:44 pm PT

    Matthew Booty?!?!?

    With a name like that, I think video games is the wrong "entertainment" medium to be working in ahhaha. *bow chicka wow wooooow*

    And on another note...David Zuckers photo really looks like a guy who would know what people want in a good game. He also looks like the love spawn of Bob Sagat and Steven Colbert.

  • wars45

    Posted Mar 24, 2008 2:23 pm PT

    yes i got unreal and its a let down even online not thatgood on it should bring a motal combat out on the next gen but it needs to be good

  • therealeu

    Posted Mar 24, 2008 12:35 pm PT

    Bob saget has left the building!

    Freaky Flyers was a cool Midway game!

  • MannysMedia

    Posted Mar 24, 2008 7:09 am PT

    BigDaddy973 So you have had a couple of bad games! Thats ok From what I recall midway hasnt had a good game since Mortal Kombat.
    Even San Francisco Rush was decent.... but come on how many years ago was that?!

    I dont think Midway could even give there company away.

    They are one of those old time companys like Acclaim that everyone forgot about...

  • crazytank

    Posted Mar 24, 2008 3:46 am PT

    David Zucker the Midway's CEO? No way,its David Sucker

  • poor_bastard

    Posted Mar 22, 2008 4:27 pm PT

    Wait Midway's still in business? I would ahve thought after the hundreds of millions they spent to release such AMAZING games as Strangleme, Hour of Defeat, and Area 51 black**** they would have clearly learned they suck and just given up....

  • MuBashi

    Posted Mar 22, 2008 1:02 am PT

    F**k Midway anyway! Bring back Atari, at least they knew how to release a comlplete game.

    They need to get their nose out of decent stuff and go back to what made them big in the first place.......

    Mortal Kombat(and then chop it up and remix it a thousand times).......

    EAT BALLS MIDWAY

  • MuBashi

    Posted Mar 22, 2008 12:57 am PT

    F**K Midway anyway, bring back Atari to UT. At least they knew how to complete a game.

  • DvTJonahHex

    Posted Mar 21, 2008 8:49 pm PT

    Midway screwed UT3 with its rush to manufacturing. The Demo was released and universally panned by the users. For all intents and purposes nothing was changed between the release of the Demo and the Retail product. Epic has a long history of releasing "when it is done;" UT3 has been out for 5 months now and it still isn't done. How much of this is Midway's fault and how much is Epic's fault is hard to say but one has to think that the publisher is much more likely to be pressuring the devs for release than the other way around.

    The meat of UT3, the game itself is of and up to Epic's standards. The user interface is amatuerish - everyone says console-like - and suitable for 10 year olds, not for a mature game designed for mature (M-rated) users. Unfortunately, the user interface is the first impression of the program and "you only get one chance to make a first impression."

  • digiteer

    Posted Mar 21, 2008 5:50 pm PT

    Sucker and Booty? nah those names can't be real lol

  • Fat_Boy_PT

    Posted Mar 21, 2008 5:17 pm PT

    When not even EA wants to buy you, you're in trouble. They should have given more time to REALLY FINISH Blacksite. And they should have made a new Mortal Kombat for the next gen consoles. Now we've got VF5 and soon Street Fighter and Tekken! They've lost their chance. And just today i saw a map pack for Stranglehold on PSN for sale when no one plays it online. Why waste time developing maps for a game with little or none online population?

  • shade1978x

    Posted Mar 21, 2008 2:14 pm PT

    Good. After buying Stranglehold and feeling, afterwards, like I got d-ickpunched, I'll never buy a Midway game again. Coupled with the fiasco with Blacksite, which looked like such a great game, the head of the company deserves to vacate his position.

  • starfoxmcleoud

    Posted Mar 21, 2008 10:09 am PT

    So....what does this mean for Mortal Kombat 8 and Blitz 8?

  • phatrat1982

    Posted Mar 21, 2008 9:47 am PT

    Maybe *NOW* Midway will start bringing games to the Virtual Console and start making some money.

  • Homerj

    Posted Mar 21, 2008 9:43 am PT

    Well, maybe Midway can serve as an object lesson for other publishers and devs. If a publisher lets its devs play fanboy drama over a major title, then the publisher the proverbial financial anvil dropping on their heads. If Midway had reigned in the nonsense at Epic (pun intended), they wouldnt be in this mess, now would they?

  • deepuism

    Posted Mar 21, 2008 9:41 am PT

    i've never had any respect for midway
    all their games have been low-quality and fun-less.

    except for UT3, i suppose. but even that wasnt anything spectacular.

  • Pyro77

    Posted Mar 21, 2008 9:01 am PT

    Damn, even EA hasn't offered to buy Midway out. Lulz
    I hope some new leadership changes things around for them.

  • wild09

    Posted Mar 21, 2008 7:37 am PT

    Looks like Mr. Jon Stewart will be getting his spotlight back.

  • andrew_ribbons

    Posted Mar 21, 2008 7:13 am PT

    This company really is going down the pan, they need the 360 version of UT3 to perform really. I'm sure it has the potential to, if they've done a good job on it.

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