Let’s call this, “Keeping it all in the family.”

From Moscow Times – Billionaire Sells Movie Chain to Daughter. LOS ANGELES — Sumner Redstone’s holding company, National Amusements, is selling its Russian theater chain Kinostar to Redstone’s daughter and other investors in a further move to pay down its debts.

The 86-year-old billionaire media mogul has been selling off theaters and stock in media giants CBS and Viacom to fend off creditors. On Thursday, daughter Shari Redstone said she was buying Rising Star Media from National Amusements with the help of UFG Private Equity of Russia. Terms of the deal were not disclosed.

The younger Redstone, who owns 20 percent of National Amusements compared to her father’s 80 percent, will become chairman of the new entity.

Rising Star owns six multiplex theaters in Russia, all of which are equipped to show 3-D movies. One theater in St. Petersburg and one in Moscow also have IMAX systems.

3-D? Wow! I’m getting on a jet plane to St. Pete and don’t know when I’ll be back. I hope John Denver won’t be on the plane. A very bad omen.