Midway appoints new chairman

With the clock ticking on a $150 million loan repayment and a dramatic downsizing to oversee, one might think that Midway president and CEO Matthew Booty has enough on his plate these days. The executive apparently believes there's room for a little more, given that Midway announced today that Booty has also been appointed as the company's chairman of the board.

Although Booty has been with the publisher since 1991, the pace of his ascension through the ranks has picked up as the company's fortunes have flagged. This time last year, Booty was the senior vice president of Midway's worldwide studios. In March, Booty was tapped as interim CEO after his predecessor, David Zucker, departed the company. That interim tag was removed in October, just in time for media mogul Sumner Redstone to sell his massive stake in the company, allowing Midway's creditors to call in their loans early.

Booty replaces Peter C. Brown, who currently holds the same trifecta of executive titles at his other place of work, theater chain AMC Entertainment. According to Midway, Brown resigned his post with the publisher "for personal reasons."