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The Westinghouse Electric Corporation acquired the network in 1994, renaming its legal name to the current CBS Broadcasting Inc. two years later, and in 1997 adopted the name of the company it had acquired to become CBS Corporation.
CBS was founded as a radio network in 1927 and then expanded to television in the 1940s. Although it primarily remained an independent company throughout most of the 20th century, Paramount Pictures temporarily held a 49 percent ownership stake from 1929 to 1932.
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Early history
The first incarnation of Viacom was created in 1952 as the television syndication division of CBS and was spun off in 1971. However, in 1999, Viacom acquired its former parent, by this time also named CBS Corporation, formerly Westinghouse Electric. The prior CBS Corporation also owned CMT and The Nashville Network (TNN), which remained Viacom properties after the 2005 split, but the prior CBS did not own UPN, Showtime, Paramount Television, Paramount Parks, or Simon & Schuster. In March 2005...
Subsequent developments
In January 2006, CBS and DIC Entertainment signed a multi-year deal in which DIC bought the Saturday morning airtime as "CBS's Saturday Morning Secret Slumber Party". In June 2006, DiC added a production partner AOL's KOL. Thus, this block would be called "KOL's Saturday Morning Secret Slumber Party on CBS". On January 24, 2006, CBS Corporation and Warner Bros. created a new broadcast network, The CW. The network officially debuted on September 18, 2006. The network formally debuted on Septem...
Re-merger deal with Viacom
On September 29, 2016, National Amusements sent a letter to the company and Viacom, encouraging the two companies to merge back into one company.On December 12, the deal was called off. On January 12, 2018, CNBC reported that Viacom had re-entered talks to merge back into CBS Corporation, after AT&T's purchase of Time Warner was planned and Disney's plan to acquire bulk of 21st Century Fox assets and the heavy competition from companies such as Netflix and Amazon. Shortly afterward, it was re...
The board of directorsof CBS Corporation included: 1. Candace K. Beinecke 2. Barbara M. Byrne 3. Gary L. Countryman 4. Brian Goldner 5. Linda M. Griego 6. Robert N. Klieger 7. Martha L. Minow 8. Shari Redstone(vice-chair) 9. Sumner Redstone(chairman emeritus) 10. Susan Schuman 11. Frederick O. Terrell 12. Strauss Zelnick (interim chairman)
Sep 8, 2024 · CBS Corporation, major American mass-media company that operates the CBS national television network and that includes the Simon & Schuster publishing groups and the Showtime cable network, among other holdings. The company was incorporated in 1927 as United Independent Broadcasters, Inc.
While CBS did return to supremacy, it was achieved under a different corporate structure. In 2000 CBS was acquired by Sumner Redstone's media giant Viacom Inc. for $45 billion. Under Viacom, CBS's cable networks and radio holdings were transferred to other Viacom divisions.
Jun 26, 2013 · In 1999, Viacom acquired its former parent CBS Corporation. In January 2006, Viacom was split into two entities: CBS Corporation, the former’s corporate successor and the spun-off Viacom company. In 2019, CBS Corporation and Viacom reunited into one single company known as ViacomCBS.
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It began in 1928 as the Columbia Broadcasting System, a small radio network directed by William S. Paley. By offering programming free to affiliated stations in return for their agreement to broadcast sponsored shows, Paley built the network from 22 stations to 114 in 10 years.
