Battle of Midway

Loot-Ninja writes:
"Last week we reported on the sale of Sumner Redstone's investment in Midway.

Well for an update on the latest - Midway is in danger of defaulting on their bonds, over USD 100 million in debt. You can guess that is a lot of money that Midway does not have in their checking account right now, so this can be a bit of a problem. For it be a full blown problem, the bond holders must demand to be repaid and Midway needs to fall short in coming up with the cash. Sensational headlines will tell you Midway is defaulting and the sky has fallen on their heads, reality is this is a pretty common event in the capital markets and nothing to panic about yet."

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taz80803602d ago

Once you rea 100 Million, everyone thinks my god Midway is done, pretty far form the truth really.

greyishfox3601d ago

They have plenty of options and plenty of time to sort things out. Even if investors want a forced repayment someone will be willing to refinance and help carry them. Midway has plenty of strong franchises they can still earn from. The worst case is this used to demonstrate that management is out of touch and an attempt is made to remove them, but the franchise will live on.