Recently Sumner Redstone sold his 87 per cent stake in the troubled publisher for an incredibly low sum, losing him around half a billion in equity.
There's big trouble ahead for Midway though as they need to strap together $150 million to pay back holders of debt, and they seem intent on collecting with Redstone's departure.
Midway's Mortal Kombat vs DC is performing well but it's not going to land them the money they need anytime soon to avoid bankruptcy. Investor Mark Thomas who bought the controlling stake in the firm is to remain a passive entity within Midway.
The publisher does however have a credit facility worth $90 million with Redstone's National Amusements holding company, with an additional $40 million available too through some more financial agreement jargon. Thomas is said to be participating in $70 million of that $90 million.
Even if Midway does get the money together they then need to pay back Thomas and National Amusements. Perhaps it's time Midway employed some mob accountants to keep the books and debtors in line; it seems the only way out right now.