Midway bankrupt

Tor Thorsen of GameSpot writes: "After months of slowly twisting in the financial wind, Midway Games has finally filed for bankruptcy. The Chicago-based publisher today submitted a petition in a federal bankruptcy court in Delaware to seek protection under Chapter 11 of the US Bankruptcy Code. The company blamed the move on last November’s "change in ownership," when then-majority stockholder Sumner Redstone sold off his 87 percent stake in the company–valued at $30 million–for $100,000."