Shari Redstone sells Russian theater chain

posted by Michael Zoldessy on June 7, 2011 at 7:08 am

While they continue to hold onto National Amusements, Shari Redstone and some other investors unloaded Russian chain Rising Star to the country’s largest cinema company, Cinema Park. This is only a couple years since they purchased the now 75- theater chain from Shari’s father, mogul Sumner Redstone.

They actually made a tidy profit off the investment as emerging markets like Russia haven’t had as much of a problem with declining attendance like the U.S. They’ve also been more receptive to 3-D, while American moviegoers seem to be a little frustrated with the premium ticket prices. An interesting counterpoint to the decreasing value of cinemas in the States.

Read more in the Wall Street Journal