Redstones Split on Paying Debt

Nov 3, 2008  •  Post A Comment

Sumner Redstone and his daughter Shari are likely to have different ideas about how to resolve the debt problems at the family holding company, National Amusements, which owns controlling interests in CBS and Viacom, the Wall Street Journal says. Mr. Redstone has ruled out selling more CBS and Viacom stock and Ms. Redstone is unlikely to want to sell the movie theater chain she has been working to upgrade. Other options are selling a stake in National Amusements or selling one of Mr. Redstone’s other companies to raise cash, the newspaper says. Redstone is also having problems with his video game company Midway Games, the New York Times says.
–Jon Lafayette

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