Sumner Redstone Struggling To Get Agreement On Refinancing

11/28/2008 05:12 am ET | Updated May 25, 2011
  • New York Post

National Amusements, the movie-theater chain that controls Sumner Redstone's interests in Viacom and CBS, faces the difficult task of getting more than 50 institutions to unanimously agree on revised terms to refinance $800 million of the company's debt, The Post has learned.

The $1.6 billion debt load that National Amusements is carrying is divided into two $800 million pieces - one a bank loan and the other a private placement. The company is trying to refinance both simultaneously.

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