National Amusements, Inc.
National Amusements, Inc.
Subscribe to the company
National Amusements, Inc.

Companies

National Amusements, Inc.

National Amusements, Inc.

Advertising and media

Description

National Amusements, Inc. is an American privately owned movie theater operator and mass media holding company incorporated in Maryland and based in Norwood, Massachusetts.

The company owns more than 1,500 cinema theaters throughout the United States, the United Kingdom, and Latin America under several brands, such as Showcase Cinemas, Multiplex Cinemas, and Cinema de Lux. It is the controlling shareholder of Paramount Global.

History

The company was founded by Michael Redstone in 1936 in the Boston suburb of Dedham as Northeast Theater Corporation, operating a chain of movie theaters in the region. In 1959, when the founder's son Sumner Redstone joined the company, it was renamed National Amusements.

On June 10, 1987, the company became the majority owner of the original incarnation of Viacom, a former CBS subsidiary syndicating television programs to stations around the United States. Since the buyout, Viacom continued to expand through purchases from the early 1990s to the early 2000s, announcing plans to merge with Paramount Communications (formerly Gulf+Western), parent of Paramount Pictures, in 1993 (which closed in 1994), buying the Blockbuster Video chain in 1994, merging with the original CBS Corporation in 2000, and acquiring BET Holdings (which became BET Networks) in 2001.

In March 2005, due to Viacom's declining stock price, National Amusements announced that it would split its media subsidiary into two companies that would remain under its control, which was completed on December 31. The original Viacom became the second CBS Corporation as it kept CBS, Simon & Schuster, and Paramount Network Television (now CBS Studios), among other assets, while MTV Networks, BET Networks, and Paramount Pictures were spun-off to a sister company under the Viacom name. The second iterations of Viacom and CBS Corporation commenced trading on January 3, 2006.

At the end of 2008, due to financial troubles, owners Sumner Redstone and Shari Redstone sold $400 million of nonvoting shares in National Amusements. In October 2009, the company sold almost $1 billion of its interest in the stock of CBS and Viacom and sold 35 theaters to Rave Motion Pictures. Today these theatres are owned by Cinemark, AMC, Alamo, or have closed. National Amusements now almost exclusively operates theaters in the Northeastern United States (with the exception of one location in Ohio). The following year, National Amusements planned to sell $390 million of notes to refinance a large part of the company's bank owed debt.

In 2019, it was announced that the multinational media conglomerates controlled by National Amusements — Viacom and CBS Corporation — would re-merge to form a new company named ViacomCBS. Viacom and CBS announced that the merger would close on December 4; following the official close, the company began trading on NASDAQ the following day. In 2022, the company was renamed Paramount Global.

Rating GlobalNY.biz

Take place
general
№123
general
Take place
area
№33
area

Company Persons

Founder of National Amusements, Inc.
1 place

NEW YORK COMPANIES


New York business portal GlobalNY.biz includes a huge directory of organizations operating in New York. Here you can easily find all the necessary information about the company. The organization card contains a full info page with a detailed description of the company's activities, logo, contact details and a link to the organization's official website. The reader can also immediately familiarize himself with the staff of the company, see the latest press releases and news block, and also see what line of the rating the company occupies. The rating of a member of the GlobalNY.biz business portal is calculated based on the number of mentions in the New York news and posted press releases containing information about the organization's activities and its achievements. You can also rise in the rating by publishing vacancies, as well as the number of registered persons. At the same time, company representatives can independently see how many times the company's card has been viewed on GlobalNY.biz, as well as promptly correct the information.
We pay special attention to the multifunctionality of the "Companies" section. For your convenience, there is a search box, as well as an industry heading.
New York Business Portal is always up-to-date database of New York enterprises!
Alena Potapova

Development Director
Population
8159471563
Died this year
46331017
Born this year
113982502