Redstone clan shakes up Midway
Family removes CEO Zucker after major losses
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Viacom and CBS chairman Sumner Redstone owns 87% of the vidgame publisher's stock and late last year installed his daughter Shari Redstone as chair.
On March 20, they removed CEO David Zucker following a rather bleak performance at the company. Here's how Midway has fared under Redstone's ownership since spring 2004:
- Net loss: about $300 million
- Decline in stock price: 79%
- Equity value lost by Redstone: more than $500 million
