Midway's Mystery Man Steps Into the Light

March 7, 2009 -

As the Midway bankruptcy works it way through the court system, there has been more than a passing interest in Mark Thomas, the unknown who purchased the financially-troubled publisher from media mogul Sumner Redstone for a mere $100,000 last November. In addition to Midway, Thomas also acquired $70 million of Midway debt in the deal.

Since Midway declared itself bankrupt on February 12th, there have been assertions by some creditors that questionable dealings occurred in relation to the Mortal Kombat publisher's sale and subsequent bankruptcy proceedings. As GamePolitics reported last month, a court document alleged that, under certain conditions, Thomas stood to make a 30,000% return on his original investment.

And, earlier this week, GamePolitics broke the news that Sumner Redstone and his daughter Shari, who formerly served as Midway's chairperson, were subpoenaed for depositions which appear to be directed in part at probing their relationship with Thomas.

Now, Mark Thomas is fighting back.

In a court document filed yesteday, Thomas declares - under penalty of perjury - that he never met or spoke to either of the Redstones until he became aware of the opportunity to purchase Midway on November 14th, 2008. The deal closed two weeks later. Thomas also writes that he did not speak with them during the negotiations to buy Midway and hasn't spoken to them since.

Thomas declares that he was initially informed by one of Redstone's attorneys that Midway might be available. Thomas, a 52-year-old attorney, lives in Massachusetts, and writes that his personal net worth is in excess of $10 million and that he has no debt.

Thomas goes as far as to attach a resume, which lists jobs as far back as 1980. Currently he serves as Managing Director of Estabrook Partners, LLC, a private equity firm which he founded. Prior to that, his most recent position was with another private equity firm, Georgetown Partners, LLC in which Thomas held a 48% ownership position.

DOCUMENT DUMP: Get the Mark Thomas declaration here.

UPDATE: The Chicago Tribune has additional coverage on the Mark Thomas revelations.


Comments

Re: Midway's Mystery Man Steps Into the Light

I've been telling you all, it's a CANARY BIRD.

| XBOX LIVE GamerTag: Harry Miste | Steam ID: Harry Miste | PSN ID: HarryMiste |

| XBOX LIVE GamerTag: Harry Miste | Steam ID: Harry Miste | PSN ID: HarryMiste |

Re: Midway's Mystery Man Steps Into the Light

We need some more info about the guy. I mean he did get controlling power over a company for only $100k.

 

http://www.magicinkgaming.com/

Re: Midway's Mystery Man Steps Into the Light

There's no question this deal is all kinds of shady but the important thing to keep in mind that a lot of stories neglect to mention is that he didn't buy Midway for just $100K.  He bought it for $100K and almost $200M in debt.  He pay have only paid $100K in cash but that debt does factor into the equation.  Granted, since he will probably get a $30M bailout while screwing over the actual workers and not having his holding company be responsible for that debt, he still came out ahead.  But the reason Sumner Redstone dumped Midway for so cheap was to divest himself of the debt.

Parallax Abstraction
Ottawa, Ontario, Canada
blog.digital-lifeline.ca

Parallax Abstraction
Ottawa, Ontario, Canada

Re: Midway's Mystery Man Steps Into the Light

It's still really suspicious.  But man, that's a lot of work to put into creating some fake guy or something.  As bizarre and clearly fishy as this sounds, the high profile nature seems to make it seem like it has to be real and totally legitimate.  Because they couldn't be that stupid, right?  I guess it could be "legitimate," and they made a deal with this guy to split some serious profits later.

Re: Midway's Mystery Man Steps Into the Light

Oh, so the lawyers helped them set it up.

 
Forgot your password?
Username :
Password :

Shout box

You're not permitted to post shouts.
E. Zachary KnightMojang Support is trying to claim they have no responsibility for broken content on the PS3 version of Minecraft.04/01/2015 - 9:23am
MaskedPixelantehttp://www.destructoid.com/kojima-productions-logo-removed-from-silent-hills-website-289814.phtml So... Japan doesn't usually do April Fool's, right?04/01/2015 - 7:51am
E. Zachary KnightXKCD is really fun this morning. http://xkcd.com/04/01/2015 - 7:37am
E. Zachary KnightI managed to wrangle a refund out of Sony for the broken texture pack. But for actual issues with texture packs, they referred me to Mojang. When I asked mojang about it, they referred me to Sony.04/01/2015 - 7:16am
Andrew EisenHuh?04/01/2015 - 2:42am
Matthew Wilson@AE I think the first dragon age did it the best. the person you played was treated differently based class,race, and gender. if the npc are going to act like 2015, you should just set the game in 2015 and add magic and dragons.04/01/2015 - 1:23am
E. Zachary KnightYeah, the PS3. My son paid for the Steampunk Texture Pack and it would not work at all. No matter what I did, it wouldn't allow us to save.03/31/2015 - 10:56pm
Sora-ChanConsole version?03/31/2015 - 10:40pm
E. Zachary KnightSo, Mojang has been selling a broken texture pack for Minecraft since at least Dec. 2014 and it hasn't been fixed yet.03/31/2015 - 10:30pm
Andrew EisenI think TT Games gets away with multiple LEGO games a year because they're all based on different franchises. If there were two or three LEGO Star Wars games every year, I think people would feel the same fatigue as they do with Assassin's Creed.03/31/2015 - 6:40pm
Andrew EisenIn other words, a hero is male because that's the default. A hero is female because of a gender-related reason. So, male heroes are for everyone. Female heroes are for women.03/31/2015 - 5:32pm
Andrew EisenHer point is that "When archetypal fantasy heroes in games are overwhelmingly portrayed as men, it reinforces the idea that... women should be able to empathize with male characters but that men needn’t be able to identify with women’s stories."03/31/2015 - 5:30pm
Andrew EisenDaniel - She doesn't say that in any of the TvW videos and I doubt she's said elsewhere that all games with male protagonists are male power fantasies. Anyway, you seem to be conflating two different ideas.03/31/2015 - 5:30pm
MaskedPixelantehttps://twitter.com/Yuriofwind/status/583028257890635776 Oh snap!03/31/2015 - 5:14pm
WymorenceFor me it just boils down to the fact that, even at a giant company, when a game comes out annually it just gives it a vibe of being rushed out the door. And god knows Unity sucked some major lemur with all its bugs...03/31/2015 - 4:22pm
PHX CorpI launched my spotify account today, and I kinda went a little overboard with adding music03/31/2015 - 3:59pm
Sora-ChanCon't. Games like AC are a pain to someone like me who likes to play games in order. So when a game gets too many releases too quickly, it puts me off. Only exceptions are games that have no interconnected underlying stories like the FF games.03/31/2015 - 2:53pm
Sora-ChanWikipedia has rarely let me down on matters like this. But yeah... AC needs a break.. like two.. or three... or eight years.03/31/2015 - 2:51pm
ConsterThere's 9 already?! I think I played 1, 2, and the ones inbetween 2 and 3.03/31/2015 - 2:23pm
Sora-ChanCon't There are now Nine... of just the main entries into the series. There are 13 more in the "other games" department.03/31/2015 - 2:15pm
 

Be Heard - Contact Your Politician