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On March 30, 2018, CBS Corporation made an all-stock offer slightly below Viacom's market value, insisting that its existing leadership, including long-time chairman and CEO Les Moonves, oversee the re-combined company. Viacom rejected the offer as too low, requesting a $2.8 billion increase and that Bob Bakish be maintained as president and ...
Viacom's share acquisition 2018–2019 The company also owns Viacom18 Studios . On 31 January 2018, TV18 announced its acquisition of Viacom's majority in the joint venture, taking operational control and leaving Viacom with a minority interest. [ 7 ]
The "new" Viacom would be spun-off from what became CBS Corporation, the legal successor to the original Viacom; which would retain CBS, Paramount Television, UPN, CBS Radio, and Paramount Parks (later sold to Cedar Fair in 2007). [citation needed] By 2007, BET had launched two more music–oriented networks, BET Hip Hop and BET Gospel.
CBS Corporation was an American multinational media company with interests primarily in commercial broadcasting, publishing, and television production.It was split from Viacom on December 31, 2005, alongside an entirely new Viacom; both CBS Corporation and the second Viacom were controlled by National Amusements, a theater company owned by billionaire Sumner Redstone.
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] The company may hold an unspecified stake in Audacy, Inc., as part of the reverse ...
Viacom (NASDAQ:VIA,VIAB) unquestionably is cheap. The B shares of Viacom stock trade at barely seven times 2018 consensus EPS estimates. VIAB stock also has an attractive 2.76% dividend yield.
[11] [12] [17] [18] When the deal was completed on September 6, 1983, the operations of The Movie Channel and Showtime were folded into a new holding company, Showtime/The Movie Channel, Inc., which was majority owned by Viacom (controlling 50% of the venture's common stock as well as investing $40 million in cash), with Warner Communications ...
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.