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Redstone's Midway Foray Goes Beyond Personal Interest
Updated from 10:31 a.m. EDT
Sumner Redstone's move to seize control of Midway Games (MWY Quote) may end up rattling the entire video-game software industry.
Since November, Redstone has more than doubled his stake in Midway; a regulatory filing posted Monday revealed he now holds 71% of the company's shares. The Viacom (VIA.B Quote) CEO has already nominated two director candidates and could ultimately handpick the successor to Midway Chairman Neil Nicastro, who announced his resignation Friday.
Though Redstone has denied it, some analysts believe his takeover of Midway is an attempt to get Viacom into the video-game software industry, which could have far-reaching implications. ...
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