Last week we reported on the sale of Sumner Redstone’s investment in Midway.

Well for an update on the latest – Midway is in danger of defaulting on their bonds, over USD 100 million in debt.  You can guess that is a lot of money that Midway does not have in their checking account right now, so this can be a bit of a problem.   For it be a full blown problem, the bond holders must demand to be repaid and Midway needs to fall short in coming up with the cash. Sensational headlines will tell you Midway is defaulting and the sky has fallen on their heads, reality is this is a pretty common event in the capital markets and nothing to panic about yet.

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