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The company was formed on December 4, 2019, as ViacomCBS through the merger of the second incarnations of CBS Corporation and Viacom [4] (which were split from the original Viacom on December 31, 2005). The company took its current name on February 16, 2022.
Jul 9, 2024 · National Amusements, Inc., a privately owned theater company, stands as the titan behind Viacom, wielding significant influence over its operations. Owned by the Redstone family, National Amusements holds the majority of voting shares, a power that cannot be understated in the corporate world.
Feb 15, 2022 · NEW YORK, Feb. 15, 2022 /PRNewswire/ -- ViacomCBS today announced that the global media company will become Paramount Global (referred to as " Paramount "), effective February 16, bringing together its leading portfolio of premium entertainment properties under a new parent company name.
Jul 10, 2017 · In terms of websites, Viacom owns, of course, Nick.com. Launched in 1995, the website mainly serves as an online portal for Nickelodeon content, offering online games, video streaming of...
- 1970s Formation
- Growth Through Acquisition in The 1980s
- Turning Viacom Around in The Late 1980s
- Creating Synergy: 1999–2004
- Principal Subsidiaries
- Further Reading
Viacom was formed by the Central Broadcasting System (CBS) in the summer of 1970 to comply with regulations by the U.S. Federal Communications Commission (FCC) barring television networks from owning cable TV systems or from syndicating their own programs in the United States. It formally became a separate company in 1971 when CBS distributed Viaco...
Cable systems were a capital-intensive business, and Viacom constantly invested money in building its cable infrastructure—spending $65 million in 1981 alone, for example. In the early 1980s Viacom started on a program of rapid growth across a range of media categories. Company President Terrence A. Elkes told Business Week that Viacom hoped to bec...
Redstone's banks were demanding $450 million in interest in the first two years following the takeover, but several fortuitous events aided him in paying off this debt. Shortly after the buyout Viacom began to earn millions from television stations wanting to show reruns of The Cosby Show. Furthermore, when Congress deregulated cable in 1987, price...
In 1999, Redstone held about $9 billion worth of Viacom shares. The company's stock had outshined rivals Time Warner, Disney, and News Corp. That year, Viacom announced plans to buy out CBS Corporation for $37 billion in stock. The heydays of network television were in the past. CBS's cash flow for the year would come from cable, radio, stations, a...
Blockbuster Videos, Inc.; Paramount Pictures; Paramount Home Entertainment; Simon & Schuster; MTV Networks; Showtime Networks Inc.; VH1 Inc.; BET; The CBS Television Network; United Paramount Network; Infinity Broadcasting; Paramount Television; Paramount Parks.
Atlas, Riva, "Paramount, Anyone?" Forbes,May 23, 1994, p. 264. Berkowitz, Harry, "Company President Leaves, Karmazin Steps Down at Viacom, Surprise Resignation Follows Often-Rocky Relationship with CEO Redstone," Newsday, June 2, 2004, p. A2. Flint, Joe, "Final Cut: Karmazin Leaves Post, Ending a Stormy Marriage," Wall Street Journal, June 2, 2004....
On May 1, 2014, Viacom announced it had agreed to take over the British broadcaster Channel 5 from Northern & Shell, the media group owned by the British newspaper publisher Richard Desmond. Viacom becomes the first American media company to take over a British broadcaster with a public service remit. [38]
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Oct 4, 2024 · Viacom, American communications and media conglomerate that was once one of the largest in the United States. It owned radio and television stations and cable television programming services and systems.
