Several Hundred National Amusements Theatres May Soon Be Available to the Highest Bidder

on February 19, 2009

In a move that will help the company pay off its growing debt, Reuters is reporting that several hundred National Amusements movie theatres may soon be for sale.

National Amusements is owned by media tycoon Sumner Redstone. In recent months, Redstone's media empire, which is lead by Viacom, has taken its share of hits. Viacom has been forced to implement massive layoffs due to declining stock prices.

Early estimated figures show that the sale could be worth anywhere from $240 million to $480 million. While nothing is confirmed at this time, Regal Entertainment Group, AMC and Cinemark are all potential buyers. If any one of those three major chains were to make the purchase they would solidify there standing on top of the exhibition industry in a major way.

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