Midway, the company behind the legendary Mortal Kombat series, has seen some hard times recently. They have had to cut jobs, close a studio in LA and a they have received warning that they will be delisted from the New York Stock Exchange for the value of their shares dropping below $1 each.

Well now there is another chapter in Midway’s miserable 2008 story with Sumner Redstone selling his 87% share in the company to private investor Mark Thomas for $100,000 (just $0.0012 per share), plus $70 million dollars debt according to the Wall Street Journal.  The move nets Redstone a cool $800 million dollar tax break for his debt laden National Amusements group, which owns controlling voting interests in Viacom, MTV, Paramount pictures and more.

What this means for the future of Midway is as yet unknown, as nothing is really known about Mr. Thomas or his intentions for the company.  Could this be the final nail in the coffin for this heavyweight of 20 years?  I’m sure we’ll find out soon.

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