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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]
But Viacom prevailed, ultimately paying $10 billion for the Paramount holdings. Viacom and Paramount had planned to merge as early as 1989. [74] Paramount is the last major film studio located in Hollywood proper. When Paramount moved to its present home in 1927, it was in the heart of the film community.
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.
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.
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.
In November 1985, Viacom announced that it had plans to buy the remaining 69% of MTV Networks from Warner for $326 million, [7] and the acquisition was completed on May 20, 1986. [8] In 1988, the company partnered with fellow Viacom subsidiary Viacom Enterprises to handle advertising sales of Superboy, a syndicated television series. [9]
The new-model Paramount is also pouring money into content at a rate that neither Viacom nor CBS Corp. was able to do on its own prior to the re-merger of the Redstone media empire in late 2019 ...
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 in 2024 Viacom18 US; Viacom18 Media Colors; Viacom18 Studios; The Indian Film Company [34] JioCinema