Sumner Redstone, the head of Viacom/CBS Corporation, increased his stake in Midway from about 15%, in 1998, to about 87% by the end of 2007. ![]() Midway was ranked the fourth largest-selling video game publisher in 2000.Īfter 2000, Midway continued to develop and publish video games for home and handheld video game machines, but it experienced large annual net losses and engaged in a series of stock and debt offerings and other financings and borrowings. In 1998 WMS spun off its remaining shares of Midway. Midway was purchased and re-incorporated in 1988 by WMS Industries and after years as a leader in the arcade segment, Midway moved into the growing home video game market beginning in 1996, the same year that it made its initial public offering of stock. The company scored its first mainstream hit with the U.S. The company's predecessor Midway Manufacturing was founded in 1958, as an amusement game manufacturer and In 1973 it moved into the interactive entertainment industry, developing and publishing arcade video games. Midway also acquired the rights to video games that were originally developed by WMS Industries and Atari Games, such as Defender, Joust, Robotron 2084, Gauntlet, Wipeout 64 and Rush. ![]() Midway was once also the international distributor for Namco's arcade games including Pac-Man, Ms. ![]() Its titles included Mortal Kombat, Spy Hunter, Tron, Rampage, the Cruis'n series, NFL Blitz and NBA Jam. Midway Games was an American video game developer and publisher.
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