Sumner Redstone’s National Amusements filed offerings with the SEC to sell approximately $345 million worth of shares in CBS and $600 million of shares in Viacom in order to pay off the company’s debt. Redstone and the company first came under pressure when the stock market collapsed this time a year ago. At the time, National Amusement had to dump $400 million in shares in both companies in a falling market to meet margin calls and comply with their credit agreements. In the ensuing negotiations, Redstone pledged over and over again that he would not sell any more stock in […]
