ViacomCBS’s Free Fall Forces Parent to Give Up Borrowing Power


ViacomCBS Inc.’s parent company is losing some of its ability to borrow money at a time when its key revenue drivers—movie theaters, new film releases and live-sports broadcasts from the CBS network—have ground to a halt because of the novel coronavirus.

National Amusements Inc., the movie-theater chain that in recent decades has become predominantly a holding company for its controlling stake of ViacomCBS, has reached a deal with Wells Fargo & Co. to restructure its credit facilities, the company said Thursday.