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Is Sumner Redstone Planning a Rummage Sale?

November 12, 2008
by Eric Savitz
Blogger and Columnist, Barron's, Tech Trader Daily

Eric Savitz

National Amusements, the holding company for media mogul Sumner Redstone, need to raise cash–and that has implications for a number of public companies he controls.

In a research note earlier today, Pali Research analyst Richard Greenfield noted that the combination of the declining value of National’s public holdings and “unfriendly credit markets” are going to force Redstone to take action. Greenfield thinks his best move would be to put Viacom (VIA) up for sale, but that Redstone isn’t likely to allow that.

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