It appears that Midway’s bondholders don’t like a mystery and the growing consensus seems to believe that Mark Thomas, the named person who purchased the majority stake of Midway from Sumner Redstone, is that and perhaps more. Some whispers seem to be attempting to link Thomas and Sumner Redstone, suggesting that Thomas could benefit unfairly from the situation.

The drama of the situation continues because recent investigations by other news sources have been unable to find any details about Thomas. From our understanding, no one has been able to find his place of residence or even Thomas’s profession. Requests that have been made to Thomas’s attorney for additional details have been denied.

The lack of information has raised the level of curiosity and now some bondholders are suggesting that the situation seems to include some highly unusual transactions by insiders, which again suggests some sort of link between Thomas and Sumner Redstone.

To add more fuel to the fire some are now suggesting that the recent maneuvering could be a play for Thomas to jump to the head of the line of creditors if and when some sort of payout from the recent Chapter 11 filing does occur. Some sources are suggesting that Thomas could see a gain of as much as $30 million from debt repayment because of the assumption of Redstone’s National Amusements that is entitled to be repaid before other debuts.

For those wanting to take another leap, it is now being suggested that a total reorganization of the company that would see Midway continue to publish software moving forward in its current form seems less likely. While it is true that perhaps a scaled back Midway of some sort could emerge, with all of the recent discussions and mystery it seems a bit more likely that the company will continue the sell off of core assets in an effort to raise cash.

The entire situation is a bit strange, as it seems that this story continues to have some of everything associated with it. We look for more details to emerge over the next couple of weeks, which should really help flush out all of the details on what the future might really hold for Midway.