Shari Redstone to buy Russian theaters

National Amusements chief partners with Charles Ryan

National Amusements president Shari Redstone and private-equity investor Charles Ryan of UFG Private Equity are partnering to buy National Amusements' five-multiplex Russian circuit.

Financial terms weren't disclosed.

The Rising Star theaters were among the assets National has been trying to auction. The Massachusetts-based company recently sold 29 of its theaters in various U.S. markets to Dallas-based Rave Cinemas.

Redstone will be chairman of Rising Star, and the Russian circuit's co-founder Paul Heth is joining as CEO.

"Rising Star Media plans to aggressively expand its theater chain in Russia under the well-established brand Kinostar," officials said.

Redstone and Heth founded Rising Star Media in 2002, with National Amusements.