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Midway Games stock sinks


November 10, 2008 The video game maker reported a third-quarter net loss of $75.9 million, up from a loss a year ago of $33.5 million. Midway president and CEO Max Booty tried to put a happy face on the results, which missed Wall Street's expectations, stressing cost-cutting measures and the abandonment of unsuccessful games. Last week, Redstone, daughter of Viacom and CBS executive chairman Sumner Redstone, resigned as Midway chairman and was replaced with movie exhibition expert Peter Brown.

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