National Amusements is a prominent company in the entertainment industry, operating Showcase Cinemas, Multiplex Cinemas, and Cinema de Lux theaters across the United States, the United Kingdom, and Latin America. But who exactly owns this influential entity? Well, the answer lies with the Redstone family.
At the helm of National Amusements is Sumner Redstone, a well-known figure in the business world. Redstone, who sadly passed away in August 2020, was an incredibly successful media mogul and a billionaire. As of April 2020, Forbes estimated his net worth to be around $2.6 billion, indicating his significant influence and financial power.
Redstone held several key positions within the entertainment industry, serving as the executive chairman of both CBS and Viacom. However, in February 2016, at the age of 92, he resigned from both chairmanships following a court-ordered examination by a geriatric psychiatrist. This event marked a significant transition for the Redstone family and their ownership of National Amusements.
Through National Amusements, the Redstone family holds a majority ownership stake in various media entities. These include CBS, Comedy Central, BET, Showtime Networks, Nickelodeon, MTV, and the renowned film studio Paramount Pictures. Their influence extends across television networks, movie production, and various other forms of media.
It is important to note that National Amusements Inc., the Redstone family’s holding company, owns a substantial 79.4% of the Class A voting common stock of ViacomCBS. This makes them the majority shareholders in ViacomCBS, which encompasses cable TV networks, Paramount Pictures, Simon & Schuster, and the CBS broadcast station.
Sumner Redstone controlled a significant 80% of the voting interest in National Amusements Inc., further solidifying his influence over the company and its subsidiaries.
National Amusements’ impact on the entertainment industry cannot be understated. With a vast network of theaters under their umbrella, they have a strong presence in the motion picture exhibition sector. Showcase Cinemas, in particular, is recognized as a global leader in the industry, operating over 810 movie screens not only in the United States but also in the United Kingdom, Argentina, and Brazil.
The Redstone family, led by the late Sumner Redstone, is the driving force behind National Amusements. With their majority ownership of CBS, ViacomCBS, and various other media entities, they have left an indelible mark on the entertainment industry. Their influence spans from television networks to movie production, making them a prominent force in shaping the world of entertainment.
How Much Is Sumner Redstone Worth?
As of April 2020, Sumner Redstone’s net worth was estimated to be approximately US$2.6 billion, according to Forbes. Redstone, who previously held the positions of executive chairman at both CBS and Viacom, has amassed substantial wealth throughout his career. It is worth noting that in February 2016, at the age of 92, Redstone resigned from both chairmanships after undergoing a court-ordered examination by a geriatric psychiatrist. This event marked a significant change in his professional status.
What Does Shari Redstone Own?
Shari Redstone, through National Amusements, is a majority owner of several prominent media companies. Here is a list of the companies she owns:
1. CBS: Shari Redstone is a major shareholder of CBS, one of the largest television networks in the United States. CBS is known for its wide range of programming, including news, sports, and entertainment shows.
2. Comedy Central: Redstone also owns a stake in Comedy Central, a popular cable and satellite television channel known for its comedy programming. Comedy Central features shows like “The Daily Show with Trevor Noah” and “South Park.”
3. BET: Redstone is also a majority owner of BET (Black Entertainment Television), a cable and satellite television channel that focuses on African American culture and entertainment. BET offers a variety of programming, including music videos, movies, and original series.
4. Showtime Networks: Shari Redstone owns a stake in Showtime Networks, which operates several premium cable and satellite television channels, including Showtime, The Movie Channel, and Flix. Showtime Networks is known for its high-quality original programming, including popular series like “Homeland” and “Billions.”
5. Nickelodeon: Redstone is a majority owner of Nickelodeon, a children’s television network that offers a wide range of animated and live-action shows. Nickelodeon is known for iconic series like “SpongeBob SquarePants” and “Dora the Explorer.”
6. MTV: Shari Redstone also owns a stake in MTV, a music and entertainment channel that has been influential in shaping youth culture. MTV features music videos, reality shows, and original programming targeting young audiences.
7. Paramount Pictures: Redstone is a majority owner of Paramount Pictures, a film studio that produces and distributes movies globally. Paramount Pictures has a long history in the entertainment industry and has released numerous successful films, including the “Transformers” franchise and “The Godfather” series.
Shari Redstone, through National Amusements, owns significant stakes in CBS, Comedy Central, BET, Showtime Networks, Nickelodeon, MTV, and Paramount Pictures.
How Many Companies Does National Amusements Own?
National Amusements is the proud owner of multiple companies in the entertainment industry. As of now, they own and operate Showcase Cinemas, Multiplex Cinemas, and Cinema de Lux branded theaters. These theaters can be found in various locations across the United States, the United Kingdom, Argentina, and Brazil. National Amusements is a prominent player in the motion picture exhibition industry, boasting over 810 movie screens under their management.
How Much Of Paramount Does National Amusements Own?
National Amusements Inc., the Redstone family holding company, owns 79.4% of the Class A voting common stock of ViacomCBS, which includes Paramount Pictures among its assets. It is important to note that National Amusements owns a majority stake in ViacomCBS, which gives it significant control over the company’s operations and decision-making processes. Specifically, National Amusements controls 80% of the voting interest in ViacomCBS, with the remaining 20% distributed among other shareholders. This level of ownership highlights the significant influence that National Amusements has over Paramount Pictures and the broader ViacomCBS organization.
Conclusion
National Amusements is owned by the Redstone family through their holding company, National Amusements Inc. Sumner Redstone, the late media mogul, and his family have majority ownership of National Amusements. Through this company, they hold a significant stake in major media entities such as CBS, Comedy Central, BET, Showtime Networks, Nickelodeon, MTV, and Paramount Pictures. National Amusements operates Showcase Cinemas, Multiplex Cinemas, and Cinema de Lux theaters in the US, the UK, and Latin America, making it a prominent player in the motion picture exhibition industry. Sumner Redstone’s vast wealth, estimated at US$2.6 billion as of April 2020, further solidifies the family’s control over National Amusements and its associated media entities.
