CBS - NATIONAL AMUSEMENTS TO SELL THEATERS, TOO

NATIONAL AMUSEMENTS TO SELL THEATERS, TOO

Although reports on Wednesday had indicated that Sumner Redstone's National Amusements, in its effort to reduce debt, was selling off nearly $1 billion in CBS and Viacom stock because it couldn't find a buyer for its theaters, today's Los Angeles Times reported that the holding company plans to unload 35 theaters as well. The National Amusements theater chain, headed by Redstone's daughter Shari, currently owns 79 multiplexes in the U.S. According to the Times , it plans to sell venues in the Midwest and south of New York but hold on to those in New England and the New York areas. It will also keep its theaters in the U.K. and Brazil.

15/10/2009