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Shari Redstone resigns from Midway Games

Sun Nov 9, 2008 11:46pm EST

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Nov 10 (Reuters) - Shari Redstone, daughter of media mogul Sumner Redstone, resigned as chairwoman of video games maker Midway Games Inc MWY.N to focus on refinancing efforts at her family's holding company, National Amusements Inc.

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"With my recent appointment to the special committee of the National Amusements Board of Directors, I am resigning from the Midway Board to focus on these responsibilities," Redstone said in a statement on Friday.

In recent weeks, Sumner Redstone has been forced to sell about $230 million of his stock in Viacom Inc (VIAb.N) and CBS Corp (CBS.N) to fund debt related to National Amusements.

Midway named Peter Brown, who was on its board since 2005, as its chairman. (Reporting by Ajay Kamalakaran in Bangalore)

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