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NA to sell $400 mil of Viacom, CBS stock


October 10, 2008 Not even media and entertainment pioneers like Sumner Redstone are immune from the current credit crisis. Observers said NA likely had waited to refinance its credit lines in the hopes the market would improve. The news came as CBS and Viacom reduced their 2008 outlook amid a sluggish U.S. economy that is hurting their ad revenue momentum.

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