By Ivan Anderzhanov in Moscow
Shari Redstone is partnering with Russian banking veteran Charlie Ryan to acquire Russian theatre operator Rising Star Media from National Amusements, the company controlled by her billionaire father Sumner Redstone.
Shari Redstone, co-founder of Rising Star and president of National Amusements, will be chairman of the new entity, while fellow Rising Star co-founder Paul Heth will be chief executive. Charles Ryan, who founded Russian private equity firm UFG Private Equity is also participating in the deal.
Rising Star owns six multiplex theatres in Russia, all of which are equipped to show 3-D movies. One theatre in St. Petersburg and one in Moscow also have IMAX systems. The company plans to expand in Russia under the Kinostar brand.
Financial terms of the transaction were not disclosed.
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