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Thomas walks away with $5m from Midway sale

Original $100,000 purchase pays off for private investor as all other legal disputes settled

Following the sale of Midway Games to Warner Bros, investor Mark Thomas has walked away from the deal with a USD 5 million payout.

Thomas had bought Sumner Redstone's majority 87 per cent stake in the business last November for USD 100,000 and USD 70 million of assumed debt. His original secured claims was for USD 30 million.

Midway stakeholders had taken Thomas to court claiming the deal was fraudulent, but earlier this month settled with the private investor.

According to the Chicago Tribune, as well as Thomas' payout, all other objections over the sale to Warner have also been settled, including Threshold's claim that it owned the rights to the Mortal Kombat IP.

Warner has paid USD 33 million for the majority of assets from Midway Games, with the deal to be completed within the next two weeks.

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Matt Martin

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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.

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