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A line from a press release shown by Midway gives news in a roundabout way that a new Mortal Kombat game is in the works. I guess all those layoffs within the company did not affect the MK division. See quote for excerpt from the press release.
Mortal Kombat vs. DC Universe was the result of countless hours of hard work by many people, and seeing the game surpass the million-seller plateau makes it worth all the effort... We're already hard at work on our next version of Mortal Kombat, and look forward to being able to reveal more details in the future.