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.

 
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ZippyDSMleeEh still rather subjective… the haters would be better off going after teen and beauty rags and magazines than fiction, fiction follows reality and going after fiction tends to turn into a bullying fest’s… plus its fiction its unrealistic to start with….02/27/2015 - 1:10am
MechaTama31That's a pretty difficult anatomy to break.02/26/2015 - 11:09pm
MechaTama31"the way her animations repeatedly break her anatomy" <-- I'm sorry, but we are talking here about the woman who can roll up into a little ball and live to tell the tale, yes? ;)02/26/2015 - 11:09pm
Andrew EisenAs far as examples that could be culled from female game characters though, that one's pretty mild.02/26/2015 - 9:11pm
Andrew EisenNot as much the heels or the suit in and of themselves but certainly the way her animations repeatedly break her anatomy to show off her lady bits.02/26/2015 - 9:10pm
E. Zachary KnightWell, Samus's heels are certainly impracticable, but I wouldn't really call her Zero suit objectified. I don't really feel that the new Lara Croft is objectified either, but that is my subjective opinion.02/26/2015 - 9:08pm
Andrew EisenTomb Raider: No but we haven't seen much of anything yet. Samus: Yes.02/26/2015 - 9:07pm
ZippyDSMleeWould you call the new tomb raider objectified? WOuld Samus Aran from the new Smash bros be objectified?02/26/2015 - 9:02pm
WonderkarpI'm hoping they put the rest of the comic book ghostbusters in there. Ortiz and Rookie(From GB the game)02/26/2015 - 8:38pm
Wonderkarpghostbusters board game is doing great. getting close too a 3rd extra playable Character. Ron Alexander.02/26/2015 - 8:37pm
Andrew EisenSmurfette is not subjective. If there's more than one female character, it's not Smurfette. Anyway, as with everything on the list, Smurfette is, in and of itself, not necessarily a bad thing.02/26/2015 - 8:32pm
Andrew EisenI think there's 5 women (out of 15, I think) but other than one being a bit more "hippy" than the others, they pretty much all have the same body type. Especially when compaired to the huge variety of male body types.02/26/2015 - 8:31pm
Wonderkarpso I dont see Smurfette as a bad thing. Unless like all your female characters are Smurfette. remember the Smurfs also had Sassette02/26/2015 - 8:29pm
E. Zachary KnightOne good example of the larger issues is one Anita used in the presentation, Blizzard's Overwatch game. There are a dozen men in the game with a dozen body types. But there are only 4 women with 2 body types, but 3 of them have the same one.02/26/2015 - 8:28pm
Wonderkarpthe smurfette thing is subjective to how many female characters you have. Take Sonic for example. You have Amy, who is obvious smurfette, but there's several other female characters now without that. Including the original animated seriescomics with Sally02/26/2015 - 8:28pm
E. Zachary KnightAE. Very true. I think that is where I was going, but it didn't come out right. Jack Harkness is sexy but not objectified. Whereas, a women would have to be objectified in order to be "sexy" in most games.02/26/2015 - 8:26pm
E. Zachary KnightAnd as Andrew pointed out, there is a big difference between a sexualized man, and an idealized man. But for some reason, there is no distinction between women in games. For the most part.02/26/2015 - 8:25pm
Andrew EisenI think one of the issues we run into repeatedly with these conversations is the confusion over "sexy" and "sexually objectified."02/26/2015 - 8:24pm
E. Zachary KnightYet, for some reason, in orde rto have a sexualized women, she must be wearing lingerie or a bikini. Can't women be sexual and still dress for the job at hand?02/26/2015 - 8:24pm
E. Zachary KnightThe problem I have with complaints of "sexualized men" is that men don't have to wear speedos to be sexualized. Captain Jack Harkness from Torchwood/Doctor Who, was one sexy man, but he spent 99% of his time in a WW2 soldier's trenchcoat.02/26/2015 - 8:23pm
 

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