Midway Games files for bankruptcy protection
Barbara Ortutay of MSNBC Writes:
NEW YORK – Midway Games Inc. filed for bankruptcy protection Thursday because it does not expect to be able to pay back accelerated debt obligations stemming from media mogul Sumner Redstone’s sale of a majority stake in the company.
Midway, best known for the "Mortal Kombat" video games, had about $281 million in debt and $167.5 million in assets as of Sept. 30, according to its bankruptcy filing.
