By James Caldwell, Torch assistant editor

TNA's video game franchise is without a home after Time Warner bought Midway Games this week, but did not buy the studio in San Diego, California that produced the first TNA video game last year.

Midway says the studio will close within 60 days if no one makes an offer to buy the remaining assets that Time Warner did not acquire in the deal.

"We had a court hearing yesterday and the end result of that is the sale was approved and the closing will occur within the next 10 days," a Midway representative told joystiq.com. "Since we didn't get any bids for the San Diego assets, we actually gave the employees a required 60-day warning."

Midway was "not sure" what would happen to the TNA video game license if the San Diego studio is not acquired.

Caldwell's Analysis: An interesting domino effect could be in play here. THQ balked at the idea of renewing its WWE video game license despite pressure from Jakks, which actually will have TNA's toy license in 2010 when WWE switches to Mattel. WWE and THQ have a rocky relationship right now, and we've reported that WWE and THQ might not have another video game together after this upcoming edition in fall 2009. WWE would need a replacement video game company to produce its annual offering before ditching THQ, but conceivably, THQ could buy the Midway scraps not sold to Time Warner and produce TNA's video games. Stay tuned on this interesting development.

Link: Joystiq.com report.

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