[Source]

Midway Sold for $0.0012 per Share

The 20-year-old Mortal Kombat Publisher Midway has been sold by its owning investor Sumner Redstone for the rock-bottom price of $100,000, a Midway regulatory filing confirms.

Sumner Redstone, the 85-year-old chairman of National Amusements sold the company at $0.0012 per share on November 28. Midway investors National Amusement Inc. and Sumco also sold a combined 68 million Midway shares. Combined, the three parties sold approximately an 87.2 percent stake in the company.

Though that selling price seems absurd at face value, in selling Midway Redstone will make an $800 million tax saving for National Amusements. The firm is reported to have an outstanding debt of $1.6 billion.

A Wall Street Journal reported said that an investor, Mark Thomas, purchased Midway.

The future of Midway, which recently understood it may be delisted from the NY Stock Exchange, hangs in the balance.

I should have bought it - If I could of figured a way out of avoiding the $70m debt load.

Man Midway, once a big playa in the industry, definitely has hit skid row. =(

I thought the same thing actually, although fixing that giant 1.6 billion dollar debt would be a butt-load of work. I wonder what will happen to it now. I'm thinking it'll drastically change direction, or stop making games all together. Who knows, its doubtful we'll see another mortal kombat sequel at this rate however.

Actually...Midway needs a new Mortal Kombat to survive. Problem is, they don't have the vision to save their lives.

If I would have bought Midway, what'd my first game be?

Mortal Kombat vs. Street Fighter.

The game to end all games.

Mortal Kombat vs. Street Fighter vs. Capcom vs. Marvel vs. DC

O.O

I'd buy it.

Mmm... Mortal Kombat vs. Street Fighter...

Actually, I wouldn't mind a sequel to Mortal Kombat: Shaolin Monks, which in my opinion was the 2nd best mortal kombat, aside from Mortal Kombat 2. Something along those lines would be amazing, and give a good boost to the company.

Problem is, we have no idea who this Mark Thomas character is. If he has the vision and the creativity to not only pull it off, but do it well. Then midway has a chance at survival. If not well...

Mr. Thomas just bought himself a life-time of debt.

(Quick reply)

@konnichiwa

How dare you use Skyflier, she's so cheap. Damn long annoying range.

Sad state of the industry as it is. At least Midway still exists but in what form?