Los Angeles Times | February 27, 2009 | 12:56 p.m. PT --- Redstone, National Amusements Reach Debt Agreement Sumner Redstone reached a tentative agreement to refinance debts that forced his National Amusements Inc. to sell Viacom Inc. and CBS Corp. shares last year. The restructuring ends the threat that Redstone might lose control of Viacom and CBS. The future of his holdings was thrown into doubt when National Amusements disclosed last year it was in talks to refinance two $800 million loans after violating debt covenants. The accord extends the maturity of debts of about $1.46 billion to December 2010, after a payment at closing, National Amusements said today.
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