Michael Redstone, born Michael Rothstein, was the founder of the Northeast Theater Corporation which become National Amusements, Inc.
The company was founded in 1936 as the Northeast Theatre Corporation by Michael Redstone.
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National Amusements is now owned by Michael Redstone's son, Sumner Redstone, who holds 80% of the company, and Sumner's daughter, Shari Redstone, who owns the remaining 20%.
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Through National Amusements, the Redstones control both the CBS Corporation (owner of CBS) and Viacom (owner of Paramount Pictures) through supervoting shares.
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After another change of ownership, Sumner Redstone and Redstone Theaters purchased the building in 1967 opening it as Showcase Cinemas and continued operations as a multiscreen movie house until 1998 when Redstone's National Amusements closed the theatre.
Although Viacom and CBS Corporation have been separate companies since 2006, they are both partially owned subsidiaries of the private National Amusements company, headed by Sumner Redstone.