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Midway Stock Now Worth Considerably Fewer Pennies
Nick Breckon
10
Publisher Midway's stock has plummeted almost 40% since Sumner Redstone's sale of the company for an embarrassing $100,000, settling at an all-time low of 23 cents per share.

Friendly investor Mark Thomas purchased Redstone's majority shares of Midway on Monday. Though the publisher is still valued at $21 million, it also carries some $70 million in debt--a fatal figure that could actually be as high as $150 million, according to Variety.

The Mortal Kombat publisher is now in danger of being brutally delisted from the New York Stock Exchange, and must raise its share worth above $1 within six months.

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  • Super Sparker legacy 10 years
    reply
    December 4, 2008 1:38 PM

    I'm sure the IPs will be sold off and the company dismantled.
    :(

    • SenorSpine legacy 10 years legacy 20 years
      reply
      December 4, 2008 4:30 PM

      Sometimes that's a good thing, see: Interplay/Bethesda/Fallout.

      • Lunaran legacy 10 years
        reply
        December 4, 2008 4:36 PM

        Interplay was a shrunkenheaded zombie at that point. It's not like Midway is some shadow of its former self keeping beloved IPs in legal limbo, they're a major player that employs a ton of people.

        Looking for a job in games right now is brutal, because everything is so saturated already from layoffs and closures galore. Midway going down would be awful for everyone.

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