National Amusements agrees to debt restructure

May 05, 2009 Sumner Redstone's National Amusements has reached a definitive agreement to restructure its debt on the terms previously announced, given the privately held company some breathing room as it looks to sell at least parts of its theater circuit. Viacom and CBS Corp. said in regulatory filings that any debt default could indeed lead to Redstone's holding company's loss of the companies. NA said it can repay the restructured debt with cash flow from its operations, tax refunds and the sale of assets as it sees it.

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