National Amusements
| File:National Amusements.svg | |
| Formerly | Northeast Theater Corporation (1936–1959) |
|---|---|
| Company type | Private |
| Industry | Entertainment |
| Founded | 1936 in Dedham, Massachusetts |
| Founder | Michael Redstone |
| Headquarters | 846 University Avenue, Norwood, Massachusetts , U.S. |
Key people | Shari Redstone (chairwoman, president, CEO) |
| Products | Movie theaters |
| Owner | Redstone family |
Number of employees | 23,900 (2017) |
| Divisions | Showcase Cinemas |
| Subsidiaries | Paramount Global (9.76% shares, 77.4% voting power) UCI Cinemas (Brazil) |
National Amusements, Inc. operates as a privately owned American cinema chain and mass media holding enterprise, incorporated in Maryland and headquartered in Norwood, Massachusetts. Under the control of the Redstone family, it manages a portfolio of 69 theaters encompassing 667 screens across the United States, the United Kingdom, and Latin America, utilizing brands such as Showcase Cinemas and Cinema de Lux. The company held a controlling stake in Paramount Global.
Established in 1936 by Michael Redstone, leadership transitioned to his son Sumner Redstone and subsequently to his daughter Shari Redstone following Sumner’s death in 2020. In July 2024, Skydance Media, led by David Ellison, announced intentions to acquire National Amusements and integrate it with Paramount Global to create "Paramount Skydance Corporation." This merger received Federal Communications Commission approval on July 24, 2025.
History
Originating as Northeast Theater Corporation in Dedham, Massachusetts, the company was rebranded as National Amusements in 1959 when Sumner Redstone became involved. It expanded into media ownership by securing majority control of Viacom in 1987. Under Sumner Redstone’s guidance, Viacom grew significantly through acquisitions including Paramount Communications (1994), Blockbuster Video (1994), CBS Corporation (2000), and BET Holdings (2001).
Facing a decline in Viacom’s stock value, National Amusements divided Viacom into two separate entities in 2005—CBS Corporation and a restructured Viacom—both retained under its ownership. Financial challenges led to the sale of $400 million worth of nonvoting shares in 2008 and nearly $1 billion in CBS and Viacom stock during 2009. That same year, it sold 35 theaters to Rave Motion Pictures to concentrate its operations primarily within the Northeastern United States.
In 2019, National Amusements facilitated the reunification of Viacom and CBS into ViacomCBS, which began trading on NASDAQ by December. The entity was renamed Paramount Global in 2022.
Following Sumner Redstone’s death in 2020, control passed to a trust headed by Shari Redstone, who remains chairwoman and CEO. Early in 2024, film producer David Ellison announced plans to acquire National Amusements through Skydance Media. By July that year, a preliminary deal was struck for Skydance to purchase National Amusements for $2.4 billion and merge with Paramount Global in an $8 billion transaction aimed at broadening market presence and accelerating growth under new strategic management.
Current operations
The corporation manages more than 650 cinema screens throughout the Northeastern United States, United Kingdom, and Latin America, operating under various banners including Showcase Cinemas, Showcase Cinema de Lux, Multiplex Cinemas, and Cinema de Lux. In Canada, National Amusements formerly owned Famous Players after acquiring Viacom in 1994; many of these venues are currently overseen by Cineplex Entertainment and Landmark Cinemas. In 2004, National Amusements expanded its presence in Brazil by purchasing the UCI cinema chain's operations, subsequently integrating them into the Showcase brand with the addition of XPlus and De Lux premium auditoriums featuring fully reclining seats.
National Amusements possesses a 9.7% ownership share and controls 79.9% of the voting rights in Paramount Global, having managed its predecessor entities—both the second iterations of CBS Corporation and Viacom—until their merger in 2019. Additionally, the company holds an undisclosed interest in Audacy, Inc. following the reverse Morris trust transaction that separated CBS's radio holdings; at that time, CBS shareholders initially owned 72% of Entercom after the spin-off.