Midway's biggest stockholder is apparently getting rid of all of his stock for a massive loss. Gamasutra reports (via a Wall Street Journal report) that Sumner Redstone will sell off all of his stock, which amounts to 87 percent of the company, to another investor for just $100,000. That's just $0.0012 a share for stock that was worth $30 million at the close of the stock market on Friday.

This fire sale of Redstone's is to the benefit of an investor named Mark Thomas who will purchase the Midway stock and also assume the rather large company debt of $70 million. This move frees up Redstone to work off the much larger debt, $1.6 billion, for his own National Amusements company. Midway is expected to officially announce the deal later today.