BUSINESS BRIEFING / INVESTING
Times Wire Reports
Sumner Redstone, who controls CBS Corp. and Viacom Inc., cut his stake in slot-machine maker WMS Industries Inc. to 4.9% as he continued to sell assets to restructure debt at his National Amusements Inc. family holding company.
The investor sold 445,000 WMS shares, lowering his stake to 2.41 million, after disposing of 1.14 million shares Wednesday, according to a regulatory filing. He already sold shares last year, reducing holdings he’s held for decades to 4 million as of July 28.
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