Viacom’s Sumner Redstone ‘Pleased’

Nov 13, 2008  •  Post A Comment

MarketWatch is skeptical of Viacom chief Sumner Redstone’s recent statement about his cinema exhibition company, National Amusements, which read, “I am pleased that talks with National Amusements’ banks and noteholders are proceeding in a smooth and constructive manner.” MarketWatch begs to differ, pointing to Redstone’s sale of $233 million worth of CBS and Viacom stock to meet debt obligations and Viacom reporting a 37% decline in third-quarter net income.
—Christopher Perez

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