Sumner Redstone's Investments Face Mortal Kombat

The Viacom and CBS chairman is bleeding money as his National Amusements theater chain is dragged down by struggling unit Midway Games

It's sure no fun being Sumner Redstone these days. He's just filed for divorce from his wife of five years. The billionaire chairman of both Viacom (VIAB) and CBS (CBS) has been forced to sell $233 million worth of stock in the two media powerhouses to meet the terms of some $1.6 billion in loans and bonds for his privately held National Amusements theater chain. The CBS and Viacom sales are digging a hole in his pocket: He lost $535 million on those alone, based on their stock price decline over the last year.

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