June 8, 1988 |
Metromedia raised its stake in Orion Pictures Corp. to 66.8% after concluding a $78-million stock purchase agreement, according to a filing with the Securities and Exchange Commission. Under a June 3 agreement, Metromedia purchased 2.8 million Orion common shares and 2.762 million warrants to buy 4.19 million common shares at $17 each. Metromedia now owns 14.4 million Orion common shares. Metromedia bought the stock from Sumner Redstone, National Amusements Inc., Viacom International Inc.
March 4, 1987 |
Theater operator Sumner Redstone emerged victorious today in a bidding war for Viacom International Inc. as the large cable and broadcast company agreed to his complicated bid estimated at more than $3 billion. After being pursued for nearly a year by various investors, an independent committee of the Viacom board chose a bid by Redstone's privately held National Amusements Inc. over one submitted by company management. Redstone's group will pay cash of $42.75 a share, preferred stock of $7.
June 10, 1987
Shareholders in Viacom International, a communications and entertainment company headquartered in New York, will receive for each share a cash payment of $43.20; 0.30097 of a share of 15.5% preferred stock of Viacom Inc., having a liquidation preference of $25 per share and accruing dividends from May 1, and 20 cents of a share of common stock of Viacom Inc. The transaction involves 17.4% of common stock outstanding in Viacom Inc., a subsidiary of Dedham, Mass.-based National Amusements Inc.
March 4, 1987
National Amusements Inc. raised the cash portion of its bid for Viacom International to $42.75 a share from $42 a share in a bid made Sunday. The preferred stock portion was raised to $7.75 from $7.50. Meanwhile, Oppenheimer & Co. said it has accumulated 7% of Viacom's stock. But Oppenheimer said in a filing with the SEC that the purchases were solely for arbitrage purposes and that it has no interest in gaining control of the entertainment and communications firm.
December 4, 1986
National Amusements Inc., which has indicated its unhappiness with the price offered shareholders in the pending buyout of Viacom International, said it had raised its stake in the entertainment and communications concern from 18.3%. The Dedham, Mass.-based theater chain said it has sought Federal Trade Commission clearance to raise the stake up to 49.9% from the current level. National Amusements said it will continue to study alternatives to the $2.
November 13, 2001 |
IMAX Corp. will open a new 3-D theater on Jan. 1 at the 17-screen The Bridge cinema complex along the San Diego Freeway in Westchester, the company announced. The new venue will house the largest commercial IMAX 3-D screen in Southern California, according to Shari E. Redstone, president of National Amusements Inc., which owns and operates the theater complex at the Promenade shopping center at Howard Hughes Center.
April 11, 2009 |
Sumner Redstone, who controls CBS Corp. and Viacom Inc., cut his stake in slot-machine maker WMS Industries Inc. to 4.9% as he continued to sell assets to restructure debt at his National Amusements Inc. family holding company. The investor sold 445,000 WMS shares, lowering his stake to 2.41 million, after disposing of 1.14 million shares Wednesday, according to a regulatory filing. He already sold shares last year, reducing holdings he's held for decades to 4 million as of July 28.
July 7, 2001 |
The opening of the Bridge movie theater in Westchester has been postponed until next week because of construction delays, according to theater operator National Amusements Inc. The opening originally had been scheduled for June 29. The 17-screen, 4,200-seat cinema complex is part of the Promenade, a 250,000-square-foot retail development near the San Diego Freeway at Howard Hughes Center.