Paramount to Buy Film Rights to Midway Game
Viacom Inc.’s Paramount Pictures agreed to buy the film rights to Midway Games Inc.’s “Area 51” video game, marking a collaboration between the film company controlled by Sumner Redstone and the electronic-game company in which he’s the majority owner.
Christine Peters, who produced the movie “How to Lose a Guy in 10 Days,” will produce the film, Midway spokesman Reilly Brennan said. It’s the first film-rights sale between Midway and Paramount, he said. Paramount made last year’s “Tomb Raider: The Cradle of Life,” based on Eidos’ Lara Croft computer games.
Viacom’s class B shares fell 44 cents to $33.31. Midway shares rose 9 cents to $12.07. Both trade on the New York Stock Exchange.
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