MONDAY DECEMBER 01
Sumner Surrenders Midway Stake

The credit crunch has not been kind to Sumner Redstone, and today marks the Viacom Chairman's latest sacrifice in the name of shoring up National Amusements: the media mogul has sold his controlling stake in Midway Games. National Amusements has about $1.6 billion in debt, half of which will have to be repaid by year-end.

December 2008

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