27 November 2008 1:36 AM, PST | From Studio Briefing - Film News | See recent Studio Briefing - Film News news
The falling stock prices of CBS and Viacom may force Sumner Redstone, the chairman of both companies, to sell part or all of his National Amusements theater chain and his stakes in the videogame company Midway Games and slot machine maker Wms Industries, the Los Angeles Times reported today (Thursday), citing people close to the situation. The theater chain is overseen by Redstone's daughter Shari, who has engaged in numerous public disputes with her father in the past but has not commented on the reported plans to sell parts of the theater chain in order to fulfill debt covenants hinged to the value of CBS and Viacom shares. However, the Times quoted one person familiar with the situation as saying that Redstone is determined not to relinquish his holdings in either CBS or Viacom.
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