Sumner Redstone sells off stock, movie theaters

Once on the verge of drowning in a $1.46-billion debt, media mogul Sumner Redstone (seriously, the man owns this town) has managed to keep his head above water by selling $1 billion worth of stock in Viacom and CBS. The 86-year old gazillionaire will also be selling 35 U.S. movie theaters, which are expected to generate aproximately 350 million greenbacks.
Paul Buck / EPA
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