• New York Post, Monday, October 20, 2008 9:16 AM

Sumner Redstone, squeezed by a tight credit crunch, may be forced to sell his prized Viacom, home of MTV, Nickelodeon and Paramount Studios. The cash situation of the 85-year-old Redstone is said to be so dire that selling Viacom or CBS has become a real possibility.

Redstone used shares in the companies as collateral for loans used to pay for expansion plans for his privately held National Amusements movie theater chain. As the price of Viacom and CBS shares dipped, the banks are now demanding cash to back the loans.

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