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Midway Games Inc. (MWY)
Midway's losses under Sumner Redstone's watch
Midway's losses under Sumner Redstone's watch
Variety - March 20, 2008
Submitted by vGInfidel (150) at 7:40PM PST on March 21, 2008
-Midway's net losses since 2004: about $300 million
-Revenue growth from 2004 through 2007: -3%
-Increase in net loss from 2004 through 2007: +399%
-Change in Midway stock value from the day Redstone took over through today: -79%
-Loss in equity value for Sumner Redstone: Over $500 million (this is a very conservative estimate given that Redstone's exact stock ownership has fluctuated over the years)
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10vGInfidel posted on Midway Games Inc. (MWY) at 7:40PM PST on March 21, 2008. Article: Midway's losses under Sumner Redstone's watch-Midway's net losses since 2004: about $300 million -Revenue growth from 2004 through 2007: -3% -Increase in net loss from 2004 through 2007: +399% -Change in Midway stock value from the day Redstone took over through today: -79% -Loss in equity value for Sumner Redstone: Over $500 million (this is a very conservative estimate given that Redstone's exact stock ownership has fluctuated over the years)[ Oracle ] [ Level 22 ] [ Rank: 150 ]
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here it is in an easier format
-Midway's net losses since 2004: about $300 million
-Revenue growth from 2004 through 2007: -3%
-Increase in net loss from 2004 through 2007: +399%
-Change in Midway stock value from the day Redstone took over through today: -79%
-Loss in equity value for Sumner Redstone: Over $500 million (this is a very conservative estimate given that Redstone's exact stock ownership has fluctuated over the years)
article comes after the firing of CEO David Zucker to see what effect he and sumner redstone have had on the company.