Midway must come up with $150 million
FROM VARIETY: Company sale triggers debt repayment clause
By Ben Fritz of Variety -- Video Business, 12/5/2008
DEC. 5 | FROM VARIETY: Midway has 50 days to come up with $150 million.The struggling videogame publisher disclosed in a Securities and Exchange Commission filing Thursday that Sumner Redstone's recent sale of his controlling stake to investor Mark Thomas triggered a provision allowing holders of its debt notes to request payment of the principal. Given the company's dire financial state, they're expected to do so.
Read the full story on Variety.com.
