National Amusements

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National Amusements, Inc.
Private
Industry Entertainment
Movie theaters
Founded 1936; 83 years ago (1936),
Dedham, Massachusetts
Founder Michael Redstone
Headquarters ,
Area served
Worldwide, with main market focusing on United States
Key people
Owner
Subsidiaries
Website nationalamusements.com

National Amusements, Inc. is an American privately-owned theater company and mass media holding company based in Dedham, Massachusetts and incorporated in Maryland.[2] It was the parent company of the first incarnation of Viacom, and is the parent company of CBS Corporation and second incarnation of Viacom that were split off in 2006.

At the end of 2008, due to financial troubles, owners Sumner Redstone and Shari Redstone sold $400 million of nonvoting shares in National Amusements.[3] In October 2009, the company sold almost $1 billion of its interest in the stock of CBS and Viacom[4] and sold 35 theaters to Rave Motion Pictures. Today these theatres are owned by Cinemark, AMC, Alamo, or have closed. National Amusements now almost exclusively operates theaters in the Northeast (with the exception of one location in Ohio).[5] The following year, National Amusements planned to sell $390 million of notes to refinance a large part of the company's bank owed debt.[6]

As of December 2016, National Amusements, directly and through subsidiaries, holds approximately 79.8% of the Class A (voting) common stock of Viacom Inc., constituting 10% of the overall equity of the Company, and holds approximately 79.5% of the Class A (voting) common stock and 2.4% of the Class B (non‐voting) common stock of CBS Corporation, constituting 9.1% of the overall equity of the Company.

The City Center 15 Cinema De Lux in White Plains, New York's City Center includes a waiting area with a television, newspaper rack and sofas (left), a piano (right of center), and a bar and grill restaurant (not pictured).

The company operates more than 1,500 movie screens across the Northeastern United States, the United Kingdom, Latin America, and Russia under its Showcase Cinemas, Multiplex Cinemas, Cinema de Lux, and KinoStar brands. It also operates a nightclub in Foxborough, Massachusetts called Showcase Live, which is located next to a Showcase Cinema de Lux.

References[edit]

  1. ^ a b Staff, Variety (21 December 2015). "Report: Shari Redstone Rejected $1 Billion Buyout Offer of Her Stake in Family Empire".
  2. ^ U.S. Securities and Exchange Commission (2018-03-26). "U.S. Securities and Exchange Commission EDGAR".
  3. ^ James, Meg (October 11, 2008). "Redstone hit by credit troubles". LA Times. Retrieved 2013-01-20.
  4. ^ Edward B. Colby (2009-10-14). "National Amusements Inc. to sell nearly $1B of its Viacom, CBS stock". The Daily News Transcript. Archived from the original on 2010-04-24.
  5. ^ Nikki Finke (2009-12-07). "Rave To Acquire 35 Of Redstone's National Amusements Theater Complexes". Archived from the original on 2013-02-15.
  6. ^ Korby, Boris; Maheshwari, Sapna (November 23, 2010). "National Amusements Plans to Sell $390 Million of Notes to Refinance Debt". Bloomberg. Retrieved 2013-01-20.

External links[edit]