The Deal
Saturday, November 21, 
2:19 am

Vin Diesel makes cameo in Midway Ch. 11

  Share     E-Mail    Discussion    Print Story
diesel,vin125x100.jpgVin Diesel is the latest entrant into the Midway Games Inc. bankruptcy brawl.

The "Fast & Furious" actor's company, Tigon Studios Inc., has filed an objection to the "Mortal Kombat" publisher's $33 million sale of most of its assets to Warner Bros. Entertainment Inc.

Midway's "Wheelman" game features Diesel's digital likeness. Tigon Studios is concerned about language in sale documents regarding film and television rights to "Wheelman," which Diesel is making into a movie. It also says the bankrupt Chicago gaming company still owes Diesel $200,000.

Tigon wants its objection to be heard at a July 1 sale hearing in Delaware.

Diesel's dispute is tame compared to litigation between Midway's unsecured creditors and Sumner Redstone's National Amusements Inc., the former owner of the bankrupt gaming studio.

NAI sold Midway to book a loss and recoup cash from tax payments. The creditors say the sale devastated Midway and its creditors, and they have charged that Sumner Redstone and daughter Shari Redstone, who chaired Midway's board until early November, did not uphold their fiduciary duty.

NAI has said the suit is "completely without merit." - Chris Nolter

See The Deal Pipeline: Time Warner unit bids for Midway Games (subscription required)
See TheDeal.com: Mortal Combat

Continue reading below

Also on Dealscape





Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Managing your shareholder base

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.