National Amusements Concludes Sales of Viacom and CBS Shares

DEDHAM, Mass.--(BUSINESS WIRE)--National Amusements Inc. (NAI), the company controlled by Sumner Redstone that holds his controlling interest in Viacom (NYSE: VIA and VIA.B) and CBS Corporation (NYSE: CBS.A and CBS), announced today that NAIRI, Inc., a wholly owned subsidiary of NAI, has sold a total combined value of $233 million of stock of Viacom and CBS. This concludes NAI’s previously announced sale program and NAI and NAIRI do not intend to sell any additional shares. The sales consisted of 7 million shares of Viacom class B (non-voting) common stock and 17 million shares of CBS class B (non-voting) common stock. No voting shares of either Viacom or CBS were sold in these transactions.

About National Amusements, Inc.

National Amusements, Inc., is a world leader in the motion picture exhibition industry operating more than 1,500 screens in the U.S., U.K., Latin America and Russia. National Amusements delivers a superior entertainment experience in theatres around the world under its Showcase, Multiplex, Cinema de Lux, and KinoStar brands. Based in Dedham, Massachusetts, National Amusements is a closely held company operating under the third generation of leadership by the Redstone family. National Amusements is also an equal partner in the online ticketing service, MovieTickets.com, and is the parent company of both Viacom and CBS Corporation.