- National Amusements
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National Amusements, Inc. 
Type Private Industry Entertainment - Theaters Founded Dedham, Massachusetts (1936) Founder(s) Michael Redstone Headquarters Norwood, Massachusetts, United States Area served Nationwide Key people Sumner Redstone, Chairman and CEO
Shari Redstone, PresidentDivisions Showcase Cinemas
Cinema de Lux
Multiplex Cinemas
KinoStarSubsidiaries CBS Corporation
ViacomWebsite www.national-amusements.com National Amusements, Inc. is a privately owned theatre company based in Dedham, Massachusetts, USA. The company was founded in 1936 as the Northeast Theatre Corporation by Michael Redstone.
National Amusements is now owned by Michael Redstone's son, Sumner Redstone, who holds 80% of the company, and Sumner's daughter, Shari Redstone, who owns the remaining 20%. Through National Amusements, the Redstones control both the CBS Corporation and Viacom through supervoting shares.[1]
The City Center 15 Cinema De Lux in White Plains, New York's City Center includes a waiting area with a TV, newspaper rack and sofas (left), a piano (center), and a bar & grill restaurant (not pictured).
The company operates more than 1,500 movie screens across the United States, the United Kingdom, Latin America, and Russia under its Showcase Cinemas, Multiplex Cinemas, Cinema de Lux, and KinoStar brands.
National Amusements is equal partners in MovieTickets.com.
Contents
Financial troubles
At the end of 2008, Redstone financial troubles started when the Billionaire Sumner Redstone had to dump $400 million of nonvoting shares.[2]
It was released that National Amusement planned to sell $390 Million of notes in another attempt to refinance a large part of the companies bank owed debt.[3]
Sale of theaters
In October 2009, the news was released that National Amusement would be selling almost $1 Billion of stock they own in CBS and Viacom.[4] National Amusements has sold 35 theaters to Rave Motion Pictures.[5]
This change went into effect January 10, 2010 according to management in Toledo, OH.[citation needed]
Theaters sold to Rave
Theater locations included in the sale are:
Name City State Screens The Bridge Los Angeles, CA CA 18 Cinema De Lux Buckland Hills 18 Manchester, CT CT 18 Cinema De Lux Connecticut Post 14 Milford, CT CT 14 Showcase North Haven 12 North Haven, CT CT 12 Enfield 12 Enfield, CT CT 12 Showcase Berlin 12 Kensington, CT CT 12 Showcase Southington 12 Southington, CT CT 12 Showcase Davenport 53 18 Davenport, IA IA 18 Cinema De Lux Stonybrook 20 + IMAX Louisville, KY KY 20 Cinema De Lux Preston Crossings 16 Okolona, KY KY 16 Cinema De Lux Florence 14 Florence, KY KY 14 Showcase West Springfield 15 West Springfield, MA MA 15 Showcase Eastfield Mall 16 Springfield, MA MA 16 Showcase Ann Arbor 20 Ypsilanti, MI MI 20 Showcase Flint West 14 Flint, MI MI 14 Showcase at the Ritz Center 16 Voorhees, NJ NJ 16 Multiplex Hazlet 12 Hazlet, NJ NJ 12 Cinema De Lux Franklin Park 16 Toledo, OH OH 16 Cinema De Lux The Greene 14 Beavercreek, OH OH 14 Showcase Milford 16 Milford, OH OH 16 Showcase Dayton South 16 West Carrollton, OH OH 16 Cinema De Lux Maumee 18 Maumee, OH OH 18 Showcase Huber Heights 16 Huber Heights, OH OH 16 Showcase Western Hills 14 Cincinnati, OH OH 14 Showcase Levis Commons 12 Perrysburg, OH OH 12 Showcase Kings Island 12 Mason, OH OH 12 Showcase Fallen Timbers 14 Maumee, OH OH 14 The Bridge 6 Philadelphia, PA PA 6 Showcase Pittsburgh North 11 Pittsburgh, PA PA 11 Showcase Pittsburgh West 12 Pittsburgh, PA PA 12 Cinema De Lux Fairfax Corner 14 Fairfax, VA VA 14 Multiplex Centreville 12 Centreville, VA VA 12 Multiplex Reston 13 Reston, VA VA 13 Main competitors
- AMC Entertainment, Inc.
- Regal Entertainment Group
- Clearview Cinemas
- Muvico Theaters
National Amusements' majority owned subsidiaries, CBS Corporation and Viacom, have significant competitors, including NBCUniversal, Time Warner, The Walt Disney Company and News Corporation.
Sources
- ^ "Redstones settle feud over family business" from The Denver Post, February 2007
- ^ James, Meg (October 11, 2008). "Redstone hit by credit troubles". LA Times. http://articles.latimes.com/2008/oct/11/business/fi-redstone11. Retrieved December 5, 2010.
- ^ "National Amusements Plans to Sell $390 Million of Notes to Refinance Debt". Bloomberg. http://www.bloomberg.com/news/2010-11-23/national-amusements-plans-notes-to-replace-credit-line-update1-.html. Retrieved December 5, 2010.
- ^ National Amusements Inc. to sell nearly $1B of its Viacom, CBS stock
- ^ Rave To Acquire 35 Of Redstone's National Amusements Theater Complexes
External links
Categories:- Movie theatre chains in the United States
- Viacom
- CBS Corporation
- Companies based in Massachusetts
- Companies established in 1936
- Theatre stubs
- Business stubs
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