Redstone sells majority stake in Midway Games
NEW YORK ― Media mogul Sumner Redstone sold his majority stake in video game publisher Midway Games Inc. on Monday as his family's holding company looks to get out from under a $1.6 billion debt.
Midway Games has admitted it could default on its debts, as Sumner Redstone's move to sell majority stake triggers potential repayments amounting to USD 240 million.