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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.
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] CBS was founded in 1927, which Paramount Pictures held a 49 percent ownership stake in from 1929 to 1932.
The deal came to fruition in September 1929; Paramount acquired 49% of CBS in return for a block of its stock worth $3.8 million at the time. [4] The agreement specified that Paramount would buy that same stock back for a flat $5 million by March 1, 1932, provided that CBS had earned $2 million during 1931 and 1932. [7]
ViacomCBS will change its corporate name to Paramount as of Feb. 16, calling the move an effort to adopt “an iconic global name” to reflect the conglomerate’s increasingly worldwide focus.
Famous Players–Lasky renamed to Paramount Famous Lasky Corporation; CBS is founded with investment from Columbia Records: 1929: Paramount acquires 49% of CBS: 1930: Paramount Famous Lasky Corporation renamed to Paramount Publix Corporation: 1932: Paramount sells back its shares of CBS: 1934: Gulf+Western is founded as the Michigan Bumper ...
Famous Players–Lasky renamed to Paramount Famous Lasky Corporation; CBS is founded with investment from Columbia Records: 1929: Paramount acquires 49% of CBS: 1930: Paramount Famous Lasky Corporation renamed to Paramount Publix Corporation: 1932: Paramount sells back its shares of CBS: 1934: Gulf+Western is founded as the Michigan Bumper ...
On May 23, 2006, CBS Corporation sold Paramount Parks to the Cedar Fair Entertainment Company. With this acquisition, Cedar Fair became the third-largest theme park operator. [11] On June 30, 2006, Cedar Fair completed its acquisition of Paramount Parks from CBS Corporation in a cash transaction valued at US$1.24 billion.
Paramount Media Networks is the division of Paramount Global that oversees the ... MTV Live: 20: January 16, 2006 MTV Tres ... 15 Previously owned by CBS ...