Midway sold for just about nothing

His name is Mark Thomas. You don’t know his name, but he is the investor who just bought up a whopping 87.2 percent stake in Midway, the once-great video game publisher and arcade manufacturer that brought Galaga, Joust, Ms. Pac-Man, Killer Instinct, Mortal Kombat, and even Unreal Tournament 3 into the world. The price? At $0.0012 per share, the grand total came in at $100,000.

It’s been no secret that the company has fell on some hard financial times as of late, and that their current entries into the market are not helping the situation. Thus, Midway’s parent company, National Amusements, reportedly $1.6 Billion in the hole themselves, decided to sell them off for a tax benefit to the tune of $800 million. A helpful start it seems.

But dude… $100,000. That’s not even a house. A house costs more than one of the classic arcade manufacturers. There are cars worth more than Midway. Mr Thomas, may this company bring you riches no one expects it to, and may you then chortle and grin at our shock.

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