The Trek BBS

The Trek BBS (http://www.trekbbs.com/index.php)
-   TV & Media (http://www.trekbbs.com/forumdisplay.php?f=28)
-   -   Sumner Redstone May Sell CBS, Possibly No Longer Billionaire (http://www.trekbbs.com/showthread.php?t=75033)

Dusty Ayres November 26 2008 01:51 AM

Sumner Redstone May Sell CBS, Possibly No Longer Billionaire
 
Quote:

Sumner Redstone, the controlling shareholder of CBS and Viacom, saw both those stocks hit five-year lows last week, further exacerbating what has already been an incredibly rough autumn. And while he has previously maintained that he will not sell CBS, the New York Times' Tim Arango reports that he is open to the sale and is more seriously considering selling off his family's 1,500-screen movie theater chain to restructure his $1.6 billion in debt:
In an effort to stave off the dismantling of his media empire, Sumner M. Redstone, the controlling shareholder of Viacom and CBS, recently proposed to sell his family's 1,500-screen theater chain in an effort to restructure his large debt load.
The proposal was made in a plan submitted to his bankers, according to two people briefed on the negotiations who spoke on condition they not be identified. But the proposed sale may not be enough to placate bankers, not least because no one can seem to agree on what the movie theaters are worth.

Here is what just about everyone, including those in Mr. Redstone's inner circle, agrees on: if it gets bad enough, Mr. Redstone has indicated he would be willing to part with CBS, but not Viacom, according to three people briefed on the talks who, like the others involved, spoke on condition of anonymity.



Sumner Redstone May Sell CBS, Possibly No Longer Billionaire

bigdaddy November 26 2008 02:06 AM

Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire
 
Maybe NBC can buy it and run another hit network into the ground!

Jax November 26 2008 02:09 AM

Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire
 
The CBS network it self is a very good buy for anyone really, highesr rated in viewers and top 2 for demo for past several years and will probably stay that way for a while longer. TV ratings may be down for the networks but CBS aren't really affected with its lowest rated shows being around 7.5 million (Wed 8-9 slot).

FordSVT November 26 2008 04:47 AM

Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire
 
^That's because geriatrics and CSI addicts apparently don't download much TV. :)

Hanukkah Solo November 26 2008 05:36 AM

Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire
 
Hey! Some of us young'uns watch CBS, too!

...Okay, I only watch NCIS. But it still counts! :p

Dream November 26 2008 05:45 AM

Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire
 
CBS? What the hell is that? Are there shows on it or something? :p

Hanukkah Solo November 26 2008 06:01 AM

Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire
 
I dunno, something about an Eye? Maybe it's a network devoted to J.R.R. Tolkien.

Sheliak November 26 2008 01:09 PM

Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire
 
:borg:


All times are GMT +1. The time now is 09:43 AM.

Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
FireFox 2+ or Internet Explorer 7+ highly recommended.