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Go Back   The Trek BBS > Entertainment & Interests > TV & Media

TV & Media Non-Trek television, movies, books, music, etc.

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Old November 26 2008, 01:51 AM   #1
Dusty Ayres
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Sumner Redstone May Sell CBS, Possibly No Longer Billionaire

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
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Old November 26 2008, 02:06 AM   #2
bigdaddy
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Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire

Maybe NBC can buy it and run another hit network into the ground!
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Old November 26 2008, 02:09 AM   #3
Jax
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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).
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Old November 26 2008, 04:47 AM   #4
FordSVT
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Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire

^That's because geriatrics and CSI addicts apparently don't download much TV.
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Old November 26 2008, 05:36 AM   #5
Hanukkah Solo
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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!
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Old November 26 2008, 05:45 AM   #6
Dream
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Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire

CBS? What the hell is that? Are there shows on it or something?
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Old November 26 2008, 06:01 AM   #7
Hanukkah Solo
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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.
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Old November 26 2008, 01:09 PM   #8
Sheliak
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Re: Sumner Redstone May Sell CBS, Possibly No Longer Billionaire


Last edited by Sheliak; November 26 2008 at 11:42 PM.
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