National Amusements prexy partners on Rising Star purchase
Shari Redstone has partnered with a private equity fund to purchase Russian exhib Rising Star Media — which she founded — from her family’s National Amusements. Redstone remains prexy of National Amusements, which her father, Sumner Redstone, controls.
National Amusements has been shedding locations in order to help retire $1.46 billion in debt. It recently sold 35 theaters in the U.S., including the Bridge in Los Angeles, to Rave Motion Pictures.
Shari Redstone and Paul Heth founded Russian subsid Rising Star in 2002. Today, Rising Star operates six theaters, five of which are the country’s top-performing locations, including state-of-the-art multiplexes in Moscow and St. Petersburg.
Price and terms of the deal were not disclosed.
Rising Star plans to expand its chain under its brand Kinostar.