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    Redstone Sells Controlling Stake in Midway - Dumps Debt

    by Eric Bush

    The Wall Street Journal reported today that Sumner Redstone has sold his controlling stake in Midway Games for only $100,000...

    Mr. Redstone's holding company, National Amusements Inc., is expected to announce Monday that it sold its 87% stake in Midway to investor Mark Thomas, a move that represents a significant loss on the media mogul's investment but secures a hefty tax benefit as he negotiates other asset sales.



     
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