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Technology Stocks : Midway Games - MWY -- Ignore unavailable to you. Want to Upgrade?

To: Alexander Pavlov who wrote (236)	5/11/1999 3:43:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 278

From the SEC filing: "On April 6, 1998, the Registrant completed the spin-off of its video game business conducted by Midway Games Inc. ("Midway") through the distribution (the "Distribution") to the Registrant's stockholders of all 33,400,000 shares of Midway common stock, par value $.01 per share ("Midway Common Stock"), held by the Registrant. " The record date is March 31, 1998. That gives us nearly another year. And Redstone was a beneficial shareholder of both WMS and MWY at the time, so no way will the IRS believe a Redstone-inspired takeover wasn't preconceived. And Redstone's VIA also could not do it. In any case, from my discussion with the VP Finance, it appears the IRS does hew to the two year guideline as more of a rule -no matter who does the taking over. Mike Mike Mike