Midway Games (NYSE:MWY)
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Midway Games Inc. (NYSE:MWY) announced today that at
Midway's Annual Meeting of Stockholders, held June 6, 2005, Peter C.
Brown, 46, was elected to the Company's Board of Directors. The
Company also reported that its six incumbent Board nominees,
including, Board Chairman, Kenneth D. Cron; Vice Chairwoman, Shari E.
Redstone; William C. Bartholomay; Joseph A. Califano Jr.; Ira S.
Sheinfeld; and Robert N. Waxman were elected to additional terms and
will serve as directors until the next annual meeting of stockholders.
Harold H. Bach, Jr. did not stand for re-election to the Board.
Midway's Board now consists of seven directors, all of whom are
considered "independent" according to the corporate governance rules
of the New York Stock Exchange.
Mr. Brown has been the Chairman of the Board, Chief Executive
Officer and President of AMC Entertainment Inc. since July 1999.
Active on numerous corporate boards, he is Co-Chairman and Co-Chief
Executive Officer of MovieTickets.com, Inc., a leading internet movie
theatre ticketing company. He serves on the National Association of
Theatre Owners Board of Directors, where he also is a member of the
executive committee, and the Board of Directors for National
CineMedia, a leader in-theatre digital distribution technology and
cinema advertising. Previously, Mr. Brown founded and served as
Chairman of the Board of Entertainment Properties Trust, a New York
Stock Exchange-traded real estate investment trust, from 1997 to 2003.
Midway's Chairman, Kenneth D. Cron, commented, "On behalf of the
Board of Directors, our management team and the Company's
shareholders, I want to welcome Peter to the Board. Peter's experience
and extensive knowledge of and relationships in the entertainment
industry will be of value to Midway as the convergence between global
entertainment companies and the interactive entertainment industry
becomes increasingly important to the success of both."
Midway's Vice-Chairwoman, Shari E. Redstone, added, "In addition
to Peter's valuable entertainment industry experience, he also adds
depth to the Board as a result of his public company background. Peter
has been a driving force at Movietickets.com in the application of new
technologies to traditional aspects of the entertainment business. I
am confident that Peter will make strong contributions to the Board
and Midway's further success against its strategy of producing more
high quality, top-selling games."
Midway Games Inc. is a leading developer and publisher of
interactive entertainment software. Midway videogames are available
for play on major videogame platforms including the PlayStation(R)2
computer entertainment system, Xbox(TM) video game system from
Microsoft, and Nintendo GameCube(TM) and Game Boy(R) Advance.
This press release contains "forward-looking statements" within
the meaning of the federal securities laws concerning future business
conditions and the outlook for Midway Games Inc. (the "Company") based
on currently available information that involve risks and
uncertainties. The Company's actual results could differ materially
from those anticipated in the forward-looking statements as a result
of these risks and uncertainties, including, without limitation, the
financial strength of the interactive entertainment industry,
dependence on new product introductions and the ability to maintain
the scheduling of such introductions, the upcoming console platform
transition and other technological changes, dependence on major
platform manufacturers and other risks more fully described under
"Item 1. Business - Risk Factors" in the Company's Annual Report on
Form 10-K for the year ended December 31, 2004, and in the more recent
filings made by the Company with the Securities and Exchange
Commission.