Midway Sold for $ 100K

Tuesday, 02 December 2008

Though Midway never really lifted off in the mobile games market, they do have some history in which they licensed several brands to established mobile publishers.

Midway was owned by National Amusements (owned by US media tycoon Summer Redstone). Summer Redstone sold his ownership in the company for just $ 100.000. to a private investor. Called Mark Thomas.

The reason for Midway being so cheap is that Mark Thomas also had to sign for a $ 70 million debt which the company generated over the past few years. With this move, National Amusements is working hard on loosing it's $ 1.6 billion debt.

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