Archives by Day

March 2024
SuMTuWThFSa
12
3456789
10111213141516
17181920212223
24252627282930
31

About Rainier

PC gamer, WorthPlaying EIC, globe-trotting couch potato, patriot, '80s headbanger, movie watcher, music lover, foodie and man in black -- squirrel!

Advertising

As an Amazon Associate, we earn commission from qualifying purchases.





Midway Sold to Undisclosed Party

by Rainier on Dec. 1, 2008 @ 10:42 a.m. PST

It hasn't exactly been a big secret that Midway is in financial trouble and has been for a few years now. Earlier this year, not only did its CEO David F. Zucker resign, but also board member Shari Redstone (daughter of media mogul Sumner Redstone), while its losses mounted and it currently faces NYSE de-listing. It should come as no surprised then that Sumner Redstone has now sold off his 87% stake in Midway, for an abysmal $100,000, shares that were once worth almost $1 billion.
It hasn't exactly been a big secret that Midway is in financial trouble and has been for a few years now. Earlier this year, not only did its CEO David F. Zucker resign, but also board member Shari Redstone (daughter of media mogul Sumner Redstone), while its losses mounted and it currently faces NYSE de-listing. It should come as no surprised then that Sumner Redstone has now sold off his 87% stake in Midway, for an abysmal $100,000, shares that were once worth almost $1 billion.
blog comments powered by Disqus