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Shari Redstone

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BUSINESS
August 27, 2011 | By Meg James, Los Angeles Times
Shari Redstone — the daughter of Sumner Redstone who serves as vice chair of media giants Viacom Inc. and CBS Corp. and president of National Amusements Inc. — has launched her own investment firm, according to regulatory filings. She is managing partner of the Massachusetts-based Advancit Capital, which is described in a CBS proxy as a "venture capital firm ... which focuses on early stage investments in media, entertainment and technology. " Redstone was unavailable for comment Friday.
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ENTERTAINMENT
December 16, 2013 | By Dawn C. Chmielewski
Budding digital network MiTu has reached a deal to provide short-form Spanish-language content for Univision's digital platforms. MiTu says its network of 1,000 channels reach an audience of about 45 million viewers on YouTube with its Latino-focused lifestyle content, with programming in English, Spanish and Portuguese. MiTu and its content creators produce shows focused on beauty tips, food, home and health. It recently launched a male pop culture offering, Macho, featuring sketch comedy and animation.
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BUSINESS
June 9, 2005 | Sallie Hofmeister, Times Staff Writer
Shari Redstone, the 51-year-old daughter of media mogul Sumner Redstone, is expected to be named to the expanded role of vice chairman of Viacom Inc., the entertainment conglomerate her father leads, according to sources close to the company. Shari Redstone currently runs the family-controlled Dedham, Mass.-based theater chain, National Amusements Inc., that controls Viacom via its 75% ownership of the company's voting stock.
ENTERTAINMENT
December 13, 2012 | By Richard Verrier
An investment group led international theater entrepreneur Paul Heth has acquired a controlling stake in Karo Film, one of Russia's leading cinema chains. The consortium, which includes Baring Vostok Private  Equity, UFG Private Equity and the government-backed Russian Direct Investment Fund, also said it would commit $100 million to open new multiplex venues. The group also named Heth as Karo's chief executive officer, according to a statement. Financial terms were not disclosed.
BUSINESS
November 8, 2008 | Claudia Eller and Meg James, Eller and James are Times staff writers.
Shari Redstone, the daughter of media mogul Sumner Redstone, resigned Friday as chairwoman of beleaguered Midway Games Inc., saying she needed to focus more attention on negotiations with bankers to restructure the family business' massive $1.6-billion debt. The move underscores the pressure the powerful media family is under to make an $800-million payment by Dec. 19. Shari Redstone has been leading discussions with lenders on behalf of the family holding company, National Amusements Inc.
BUSINESS
June 7, 2011 | By Richard Verrier, Los Angeles Times
Shari Redstone and her partners have sold the Russian theater circuit Rising Star Media to Cinema Park, Russia's largest cinema chain. Redstone, daughter of media mogul and Viacom Inc. and CBS Corp. Chairman Sumner Redstone, announced Monday that she and her partners, Paul Heth and investment banker Charlie Ryan of UFG Private Equity of Russia, sold the 75-theater chain last week to Cinema Park. Financial terms were not disclosed. However, people close to the deal said the theater chain was sold for about $200 million.
BUSINESS
January 8, 2010 | By Claudia Eller
Shari Redstone, taking control of a pet project, has joined with a private equity firm to acquire a Russian movie theater chain from her family-owned National Amusements Inc. Terms were not disclosed. The acquisition of the Rising Star Media circuit, which operates in Moscow and St. Petersburg, comes as National Amusements, run by Shari Redstone and her father, Sumner Redstone, has been selling theaters to help pay down debt. National Amusements recently reached a deal to sell 35 U.S. theaters, including the Bridge Cinema de Lux multiplex in Los Angeles, to Texas-based Rave Cinemas.
BUSINESS
July 20, 2007 | Thomas S. Mulligan and Claudia Eller, Times Staff Writers
Shari Redstone first got the impression that there might be a move afoot to force her out of her family's media empire last summer when she failed to receive notices of some board meetings. Now, it could happen. At a time when she's planning for what should be a joyous family event -- the September wedding of her 25-year-old daughter -- Redstone, 53, is immersed in a bitter feud with her media mogul father, Sumner. The dispute could see her sever ties to CBS Corp. and Viacom Inc.
BUSINESS
December 30, 2005 | From Bloomberg News
Sumner Redstone placed his stake in Midway Games Inc. into a new company controlled by his daughter, Shari Redstone, in an effort to free him from $425 million of debt. The shift will place the stake in Sumco Inc., according to a filing with the Securities and Exchange Commission. Sumco will assume shares that had been used as collateral by Redstone for a loan from Citigroup Inc.
BUSINESS
October 15, 2008 | Claudia Eller, Times Staff Writer
The bitter feud between billionaire Sumner Redstone and his daughter, Shari, erupted again Tuesday over the murky circumstances surrounding the sale of $233 million in non-voting Viacom Inc. and CBS Corp. shares by the family's privately held National Amusements Inc. Friday, National Amusements disclosed that it needed to raise cash to comply with debt covenants on a $1.6-billion loan. The purpose of the loan is unclear, and the firm has declined to provide an explanation.
BUSINESS
March 31, 2012 | By Meg James, Los Angeles Times
Viacom Inc. and CBS Corp. Chairman Sumner Redstone was etched in entertainment history Friday when he received a star on the Hollywood Walk of Fame. The aging mogul's family members and some of Hollywood's most powerful executives were on hand to witness the tribute on Hollywood Boulevard, just outside the Hollywood Roosevelt Hotel, where the first Oscar ceremony was held. Viacom Chief Executive Philippe Dauman compared Redstone to Adolph Zukor, the visionary New York nickelodeon owner who became one of the first people to make big money in movies.
BUSINESS
August 27, 2011 | By Meg James, Los Angeles Times
Shari Redstone — the daughter of Sumner Redstone who serves as vice chair of media giants Viacom Inc. and CBS Corp. and president of National Amusements Inc. — has launched her own investment firm, according to regulatory filings. She is managing partner of the Massachusetts-based Advancit Capital, which is described in a CBS proxy as a "venture capital firm ... which focuses on early stage investments in media, entertainment and technology. " Redstone was unavailable for comment Friday.
BUSINESS
August 19, 2011 | By Richard Verrier, Los Angeles Times
Rave Cinemas has tapped former Blockbuster chief John F. Antioco as the company's new chairman in the latest management shake-up at the country's fifth-largest theater chain. Antioco, who joined the Rave board in February, succeeds Charles Moss, who will remain as the second-largest investor in the Dallas-based theater chain and a member of the board of directors. Antioco led Blockbuster for nearly a decade, presiding over a period of rapid growth and, later, widening losses.
BUSINESS
June 7, 2011 | By Richard Verrier, Los Angeles Times
Shari Redstone and her partners have sold the Russian theater circuit Rising Star Media to Cinema Park, Russia's largest cinema chain. Redstone, daughter of media mogul and Viacom Inc. and CBS Corp. Chairman Sumner Redstone, announced Monday that she and her partners, Paul Heth and investment banker Charlie Ryan of UFG Private Equity of Russia, sold the 75-theater chain last week to Cinema Park. Financial terms were not disclosed. However, people close to the deal said the theater chain was sold for about $200 million.
BUSINESS
January 8, 2010 | By Claudia Eller
Shari Redstone, taking control of a pet project, has joined with a private equity firm to acquire a Russian movie theater chain from her family-owned National Amusements Inc. Terms were not disclosed. The acquisition of the Rising Star Media circuit, which operates in Moscow and St. Petersburg, comes as National Amusements, run by Shari Redstone and her father, Sumner Redstone, has been selling theaters to help pay down debt. National Amusements recently reached a deal to sell 35 U.S. theaters, including the Bridge Cinema de Lux multiplex in Los Angeles, to Texas-based Rave Cinemas.
BUSINESS
December 9, 2009 | By Claudia Eller
Media mogul Sumner Redstone's family movie theater chain National Amusements Inc. has reached an agreement to sell 35 theaters to Dallas-based exhibitor Rave Motion Pictures, people close to the matter confirmed. Details of the deal, which is believed to include Los Angeles' Bridge: Cinema de Lux multiplex, are still being worked out, but the transaction is expected to be finalized in the next two weeks. Redstone would probably use the proceeds from the sale to retire a portion of National's debt, which was an onerous $1.46 billion until he announced plans in mid-October to sell nearly $1 billion in stock in the two media companies he controls, Viacom Inc. and CBS Corp.
BUSINESS
December 20, 2008 | Bloomberg News
Blackstone Group, Shari Redstone's advisor, has expanded its role in recent weeks to assist National Amusements Inc. in restructuring $1.6 billion in debt, four people familiar with the discussions said. National Amusements is negotiating with its bankers to refinance two $800-million loans, one that was due Friday and another that is due next year.
BUSINESS
July 30, 2007 | Claudia Eller, Times Staff Writer
Thirteen years ago, when Sumner Redstone was busy building Viacom Inc. into a media powerhouse and needed a helping hand to run the family's theater chain, he turned to his daughter, Shari Redstone, who was home raising her three children. When theater circuits began going belly up in the late 1990s, it was Shari who kept National Amusements Inc. on track. She expanded the company globally, taking National into Russia and Latin America.
BUSINESS
October 14, 2009 | Claudia Eller and Meg James
Billionaire Sumner Redstone is breathing easier. Although the 86-year-old media mogul faces a $500-million debt payment in the next two weeks, substantial gains recently in the value of his family's shares in Viacom Inc. and CBS Corp. have given Redstone some badly needed leverage with his lenders. Redstone's privately held family holding company, National Amusements Inc., had planned to sell most if not all of its theater circuit to cover the looming debt payment. But with an improvement in his financial position as well as a loosening of the credit markets, Redstone has decided to hold on to the cinemas -- at least for now -- and thus avoids a fire sale of those assets at the bottom of the market, according to people close to Redstone.
BUSINESS
December 20, 2008 | Bloomberg News
Blackstone Group, Shari Redstone's advisor, has expanded its role in recent weeks to assist National Amusements Inc. in restructuring $1.6 billion in debt, four people familiar with the discussions said. National Amusements is negotiating with its bankers to refinance two $800-million loans, one that was due Friday and another that is due next year.
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