News: Yes, for the price of an average house, you could have bought Midway.
Reuters is reporting that business mogul Sumner Redstone has sold his controlling interest in Midway for $100,000. Redstone, who previously owned 87% of Midway's shares, sold his entire stake in the company to investor Mark Thomas at $0.0012 a share. The sale also ensures that Thomas is now the owner of Midway's debts, which currently total $70 million.
Midway had previously received a delisting notice from the New York Stock Exchange because it's share price had been below a $1.00 for a month straight. Today it is trading at $0.31 a share.
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