Summer Redstone, 87% majority shareholder in Chicago based Midway Games, has sold his entire stake of the company for only $100,000, or $0.0012 per share. Midway was previously issued a warning from the NYSE for allowing its stock price to fall below $1 per share and is currently in over $70 million of debt. The new owner, investor Mark Thomas, will assume the entire debt and will have to focus on bringing Midway out of the red.
Midway Games is responsible for NBA Jam, NFL Blitz, and the Mortal Kombat series, among others.
Source