Last month Midway had reached a waiver and forbearance agreement with the holders of its $75 million principal amount of 7.125% Convertible Senior Notes due 2026. Today Midway filed with the SEC that it has successfully negotiated with holders of the other $75 million Convertible Senior Notes due 2025. Both have extended the date upon which the holders have the right to exercise their option to require Midway to repurchase the notes to February 12, 2009.

Midway Games announced that it is taking significant steps to reduce its cost structure, including a 25% reduction in workforce, the closure of its Austin, TX, studio (Area 51), and the suspension of development on several non-core games.

Having served as interim president and CEO since March 2008, Midway Games announced that Matthew V. Booty has been appointed by the Board of Directors as President and CEO of the company.

Check out the following new screens & trailer from Midway's Games Convention 2008 lineup:

• 'This is Vegas' (PS3/X360/PC) - Screens & Trailer
• 'TNA iMPACT!' (PS2/Wii/PS3/X360) Adds Team 3D to the Roster - Screens & Trailer
• 'Wheelman' (PS3/X360/PC) - New Screens & Trailer
• 'Game Party 2' (Wii) - New Screens

Midway has released screens and trailers for the following upcoming titles:

• 'Aqua Teen Hunger Force Zombie Ninja Pro-Am' (PS2) - Screens & Trailer
• 'BlackSite: Area 51' (PS3/X360/PC) - 6 New Screens & Trailer
• 'Stranglehold' (ALL) - 4 New Screens
• 'Cruis'n' (Wii) - 3 New Screens
• 'Ultimate Mortal Kombat' (NDS) - Screens
• 'Game Party' (Wii) - 4 New Screens

Midway Games announced its product portfolio to be shown at the annual Games Convention, August 23-27 in Leipzig, Germany, featuring titles such as Stranglehold, BlackSite Area 51, Unreal Tournament 3, Ultimate Mortal Kombat, and kid's games like Foster's Home for Imaginary Friends.

Midway Games today announced that it has expanded its international operations with the formation of a new subsidiary, Midway Games GmbH, and the opening of a new office in Munich, Germany. Midway Games GmbH is responsible for all of Midway's sales, marketing and distribution in Germany. Midway's new office will be headed up by industry veteran, Uwe Fuerstenberg.

Midway Games Inc., announced that it has secured the license from DC Comics and Warner Bros. Consumer Products to publish videogames based on the Justice League comic book franchise and animated television series featuring the world’s greatest super heroes and some of the most well-known villains. Midway plans to feature the popular characters in videogames slated for development on next-generation systems and the Nintendo Game Boy Advance.