Billionaire media mogul Sumner Redstone’s family theater chain, National Amusements Inc., said Friday it has reached an agreement in principle to restructure $1.46 billion worth of debt.

The announcement partially resolves a looming question about the company’s finances, and potentially relieves an issue weighing down the shares of Viacom Inc. and CBS Corp., which Redstone controls through National Amusements.

The company said the agreement will extend the maturity of the existing debt to Dec. 31, 2010, with certain repayments due in late 2009 and 2010. The debt would be secured by substantially all of National Amusements’ assets.

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