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On August 13, 2019, CBS and Viacom officially announced their merger; the combined company was to be named ViacomCBS, with Shari Redstone serving as chair. [11] [12] [13] Upon the merger agreement, Viacom and CBS jointly announced that the transaction is expected to close by the end of 2019, pending regulatory and shareholder approvals. [13]
Paramount Global (doing business as Paramount and formerly known as ViacomCBS) is an American multinational mass media and entertainment conglomerate controlled by National Amusements and headquartered at One Astor Plaza in Times Square, Midtown Manhattan.
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.
The rankings below are the 30 largest public pension plans in the U.S., according to the 2018 list compiled by Pensions & Investments. [1] Because this information is now several years old, the numbers and rankings may no longer be entirely accurate.
The second incarnation of CBS Corporation (the first being a short-lived rename of the Westinghouse Electric Corporation) was an American multinational media company with interests primarily in commercial broadcasting, publishing, and television production.
The second phase of Viacom Inc. (/ ˈ v aɪ ə k ɒ m / ⓘ VY-ə-kom or / ˈ v iː ə k ɒ m / ⓘ VEE-ə-kom; a portmanteau of Video & Audio Communications), was an American multinational mass media and entertainment conglomerate with interests primarily in film and television.
The retirement fund is a defined benefit type pension plan and was only partially funded by the government, with only $268.4 million in assets and $911 million in liabilities. The plan experienced low investment returns and a benefit structure that had been increased without raises in funding. [29]
Bakish retained the role of CEO when CBS Corporation and Viacom reunited under a single company to form Paramount Global (then known as ViacomCBS), which closed on December 4, 2019. [76] In 2023, Bakish's total compensation from Paramount Global was $31.1 million, representing a CEO-to-median worker pay ratio of 274-to-1. [77]
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