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Midway is selling off the Mortal Kombat franchise, ending a long-running association with the series as it tries to save itself from financial meltdown.

Having debuted in 1992 with the seminal arcade hit, the franchise spawned some 17 games during its time under Midway, the most recent of which, Mortal Kombat vs DC Universe, launched to a generally warm response towards the end of last year.

Midway filed for bankruptcy last month, and recently handed publishing duties for forthcoming title The Wheelman over to Ubisoft. Now Mortal Kombat is being put out to tender, with the successful sale of the franchise imperative to rescuing the Chicago based developer – as well as acting as a milestone that would tie in with significant bonus payouts for "officers, management-level employees and other non-insider key employees," as reported on netDockets.