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Midway shares fall again

Troubled publisher sees another 15% drop from its stock price

Following some stock gains made in the middle of last week, when the company's share price hit a record low of USD 0.23, Midway's shares have started to tail off again with a 14.6 per cent drop yesterday.

That brings the troubled publisher's share price to USD 0.35 and valuing the company at just USD 32.25 million.

The company recently reported that its losses had doubled for the three months to the end of September 2008 at USD 76 million, with chairperson Shari Redstone also resigning last week.

Meanwhile the company laid off staff from its Chicago studio following the completion of projects there, having previously shut its LA studio earlier in the year.

In the latest financial release, president and CEO Matt Booty explained the company's plans: "Our current focus is the upcoming launch of Mortal Kombat vs DC Universe, which aligns our company with the exceptional Warner Bros brand of DC Comics.

"We expect that the fourth quarter will represent significant progress toward completion of these efforts, and that we will enter 2009 with a renewed focus on Midway's key strengths."

A interview with Matt Booty and executive VP for international Martin Spiess from this year's Games Convention is available, in part one and part two.

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