Sumner Redstone Sells Shares of Viacom, CBS

Huffington Post, October 15, 2009
By Andrew Vanacore and Ryan Nakashima

Media mogul Sumner Redstone's holding company, National Amusements, is selling some of its stake in CBS and Viacom as well as 35 movie theaters to pay off its debts. After the sales, National Amusements will retain more than 79 percent voting control of both CBS and Viacom while helping pay off some $1.46 billion in debt.

Read the whole story here


This article is copyrighted material, the use of which has not been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.

Freepress.net is a project of Free Press and the Free Press Action Fund
Massachusetts Office: 40 Main St, Suite 301, Florence, MA 01062 - Ph 877.888.1533 - Fax 413.585.8904
Washington Office: 501 Third Street NW, Suite 875, Washington, DC 20001 - Ph 202.265.1490 - Fax 202.265.1489