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Shari Redstone sells Russian theater chain

Shari Redstone and her partners have sold Rising Star Media, a 75-screen Russian theater chain, to Cinema Park, Russia's largest chain of cinemas, the Los Angeles Times' "Company Town" blog reported.

Shari Redstone is the daughter of Sumner Redstone, chairman of Viacom Inc. and CBS Corp. Her partners in Rising Star Media were Paul Heth and investment banker Charlie Ryan of UFG Private Equity of Russia, the report noted. The blog cited sources who said the business was sold for $200 million.

Redstone launched Rising Star Media in 2002 in partnership with Boston-area-based theater company National Amusements, of which she is president, and in 2009 acquired 100% ownership of the company with Heth and Ryan.

(Source: "Company Town," Los Angeles Times, June 6, 2011.)



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