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Falling Stocks Keep Pressure on Redstone

Nov 24, 2008  •  Post A Comment

New declines in the stock prices of Viacom and CBS Corp. is increasing the pressure on controlling shareholder Sumner Redstone, whose family companies are having trouble managing their debt, the Wall Street Journal reports. Redstone has said he won’t sell stock in the two media companies, but he may be discussing selling a theater chain the family owns in order to satisfy lenders, the paper says.
—Jon Lafayette

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