As part of the restructuring of his heavily indebted assets Sumner Redstone’s holding company National Amusements will transfer their 87 percent stake in Midway Games to investor Mark Thomas for about $100,000, along with transferring that unit’s $70 million of debt. (It had a market value of $30 million on Friday.) But NA “is expected to realize a 2008 tax loss of more than $800 million, according to a person familiar with the situation.” On the larger question of how he will restructure $1.6 billion in debt, the WSJ adds that “the Redstones are discussing securing their outstanding debt with […]
