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CBS Corporation retained the over-the-air broadcasting, television production, pay television subscription service, and publishing assets, which were previously owned by the first Viacom. The second Viacom was the world's ninth-largest media company in terms of revenue and headquartered at One Astor Plaza in Midtown Manhattan, New York City.
Paramount Pictures, CBS, and Viacom each had a history of being associated with one another through a series of various corporate mergers and splits. [10] Paramount Pictures was founded in 1912 as the Famous Players Film Company. [11]
USA Networks – Viacom sold its stake in the company to Universal Pictures in 1997; Viacom Cable – sold to TCI in 1995; Ohio systems resold to Time Warner Cable in 1998; Viacom Radio; Viacom18 - 13.01%, sold its stake to Reliance Industries, TV18 and Bodhi Tree Systems in 2024 Viacom18 US; Viacom18 Media Colors; Viacom18 Studios; The Indian ...
National Amusements owns a 9.7% equity stake and 79.9% voting interest in Paramount Global, and used to operate its predecessors, the second CBS Corporation and the second Viacom before their closure in 2019, both split from the also defunct First Viacom. [30]
12 Channel originally owned by the first incarnation of Viacom, and earlier with former partner Warner-Amex, and later became part of CBS Corporation following Viacom's split in 2006. Showtime was established in 1976, and The Movie Channel was established in 1973 as Star Channel and relaunched under its current name in 1979.
BET, or Black Entertainment Television, was founded by Robert Johnson in 1980, the first cable channel to cater to Black audiences. It was acquired by Viacom in 2001 in a deal worth $3 billion.
[48] [49] As part of the re-merger deal, CBS acquired Viacom for up to $15.4 billion. [50] On August 13, 2019, CBS and Viacom agreed to merge into a new entity known as ViacomCBS (now Paramount Global), with Viacom CEO Bob Bakish as president and CEO of the new company and CBS CEO Ianniello as chairman and CEO of CBS and oversee CBS-branded ...
In 2019, Shari Redstone emerged from a legal battle as the owner of ViacomCBS, later rebranded Paramount Global, and appointed Viacom CEO Bob Bakish as chief executive of the unified company.