If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

Redstones subpoenaed over Midway sale

Former Midway owners must disclose all dealings behind $100,000 sale

Former Midway owners Sumner Redstone and his daughter Shari have been subpoenaed by the US bankruptcy court.

According to documents reprinted by GamePolitics, they are commanded to submit all documents relating to the sale of the majority share of Midway Games to Mark Thomas for USD 100,000, and the assumption of USD 70 million in debt.

Stakeholders have questioned the validity of the sale, which could see Thomas reap a massive windfall

Earlier this week, it was revealed that Midway is burning through cash, with the company expected to have spent USD 12.4 million between February and May this year.

Thomas had denied any wrongdoing, calling the stakeholders concerns "irrelevant factual allegations."

Tagged With
Author
Matt Martin avatar

Matt Martin

Contributor

Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.