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CBS is swapping the stations and US$170 million in cash for 7.59 million shares of CBS common stock held by Liberty Media. On February 26, 2007, CBS began investing in Electric Sheep, which is a virtual world content developer. CBS hired Electric Sheep to develop some projects, including the creation of "The L-Word in Second Life".
CBS Broadcasting Inc., commonly shortened to CBS (an abbreviation of its original name, Columbia Broadcasting System), is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainment Group division of Paramount Global and is one of the company's three flagship subsidiaries, along with namesake Paramount Pictures and MTV.
The rest of the stations would be acquired by CBS, either in an ownership stake or outright purchase. In television's early years, the network bought Washington, D.C. affiliate WOIC (now WUSA) in a joint venture with The Washington Post in 1950, only to sell its stake to the newspaper in 1954 due to tighter FCC ownership regulations.
The rest of the stations would be acquired by CBS, either in an ownership stake or outright purchase. In 1950, when rival NBC was dominant in television and black and white transmission was widespread, CBS began to buy or build their own stations (outside of New York City) in Los Angeles, Chicago, and other major cities.
CBS was founded in 1927, which Paramount Pictures held a 49 percent ownership stake in from 1929 to 1932. [ 12 ] [ 13 ] In 1952, CBS formed CBS Television Film Sales, a division which handled syndication rights for CBS's library of network-owned television series.
The 2019 merger of CBS Corporation and Viacom was announced on August 13, 2019, and was completed on December 4, 2019. The merger of equals reunited CBS Corporation and Viacom into a single company known as ViacomCBS (today known as Paramount Global) after their separation from the first incarnation of Viacom on December 31, 2005.
CBS is an American broadcast television network owned and operated by Paramount Global, which originated as a radio network in September 1927, and expanded into television in July 1941. The network currently has 15 owned-and-operated stations , and current affiliation agreements with 236 other television stations.
Sumner Murray Redstone (né Rothstein; May 27, 1923 – August 11, 2020) was an American billionaire businessman and media magnate.He was the founder and chairman of the second incarnation of Viacom, chairman of CBS Corporation (both companies merged in 2019, a year before Redstone's death), and the majority owner and chairman of the National Amusements theater chain.