The struggling Mortal Kombat developer Midway Games has received an offer to buy "substantially all" of the US property owned by the company. This does indeed include Midway's lead, as well a number of other titles:

Midway Games said Thursday it has a bid from Warner Bros. Entertainment Inc. to buy "substantially all" of the video-game maker's U.S. assets for $33 million, including the company's Mortal Kombat franchise and its development studios in Chicago and Seattle.

Midway filed for Chapter 11 bankruptcy protection in February and had told the court it was evaluating offers from parties interested in acquiring its assets. Warner Bros. is a "stalking horse" bidder, meaning that Midway chose the company from a pool of bidders and the $33 million offer sets the floor for future bids. There will now be a court-supervised auction where other qualified buyers can make their own offers.

"The process is intended to achieve the highest value possible for the Company's stakeholders," Midway said Thursday.

Midway said it has filed a sale and bid procedures motion with the bankruptcy court to initiate these proceedings.

We'll keep you posted, as the legal processes are still ongoing and have a long way to go before a true resolution is reached. To view this article at the Chicago Tribune's website, click here.

Kotaku also picked up the story.

Thanks to and for the lead on this story.