Midway have posted losses of $34m for the previous quarter despite surpassing sale projections.  Share prices continue to plummet, whilst Midway seem to be relying on continued sales of games which were, frankly, not that good, a few game ports such as Hour of Victory for the PC and a spattering of European launches.  With no releases of note in the works, the future is looking fairly bleak for this Chicago based game publisher.

View the full report here.

Do you want to make video games but you can’t program, code, design, conceptualize or even draw? Microsoft have released their Popfly beta just for you and your incompetent friends!

Using a basic toolkit powered by the Microsoft Silverlight development plugin, you can create basic games and then share them from your favorite social networking site. The service also allows you to create custom website mash-ups or the ability to just layout a website in a (fairly) easy to use graphical user interface. Don’t expect the next Halo, but the service is fun for a period and you can create some interesting takes on classic game formats.

Okay, so now the ‘GTA-bomb’ has dropped, gamers worldwide may be bracing themselves for the annual summer game drought. It might be the heat, a lack of big spending holidays or just having the kids out of school, but Summer is traditionally associated with a lack of activity in the gaming world. Nevertheless, with the seemingly endless expansion of the game industry and the seemingly bottomless wallets of the worldwide gaming population, are companies really dumb enough to keep this tradition up? Are we really looking at yet another summer spent finishing off those games we never did, or grabbing missed titles from the local bargain bin?

A quick glimpse ahead to June’s releases reveals that the ‘Summer drought’ may officially be a thing of the past…

Metal Gear Solid 4 (PS3)

Alongside the release of GTA IV, this is the Summer’s other ace in the hole. Toted as the release to kick Sony’s suffering PS3 sales up a notch and provide the long awaited Metal Gear fix for the next gen this release is set to go off with a bang (and a special edition console). With the MGS hardcore currently flocking to the current online beta, not much else need be said about it other than: It will be huge.

Rock Band (Wii)

Wii owners will be swinging more than just their Wiimotes this June as Rockband is (finally) released on the platform.

Ninja Gaiden 2 (360)

Team Ninja’s first ‘proper’ sequel in this slash-em-up series is set to drop, and will no doubt draw some gaming hours away from Spring’s big hitters. Expect thumb blistering combos and unnecessarily large bosses aplenty when this hits this June.

Haze (PC, PS3)

PC gamers are not left out in this summers offerings either, and with an original title nonetheless. From the studios that brought you the Timesplitters series comes another much hyped FPS in the form of Haze. Previews look promising for this futuristic bullet storm and it will be hitting the PC and PS3 early June or before.

Space Invaders Extreme (NDS, PSP)

Handheld gamers can look forward to this addition to the library prior to their summer travels. First impressions are looking great for this revival of one of the classic video game titles. Expect all sorts of power-ups, bosses and an all new tripped out soundtrack in this version coming to a little screen near you soon.

Add to this a generous helping of other releases including Sid Meier’s Civilization Revolution (All Platforms), Alone in the Dark (PS3, 360, Wii, PC) and We Love Golf (Wii) and it looks like a recipe for success. Or at least a lot of lost hours in front of your favourite console. With a June this rich and releases such as Soul Calibur IV and Mercenaries 2 on the horizon for the following months, don’t expect the summer break to be anything less than game-a-licious