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On December 31, 2005, American mass media company Viacom split into two companies: the second CBS Corporation, its successor (the first being a short lived rename of Westinghouse Electric) which held the namesake flagship channel CBS, CBS News, CBS Sports, Showtime Networks, UPN (merged with The WB to form the CW, co-owned by Time Warner), Smithsonian Channel, Simon and Schuster, Infinity ...
Executive Kent Alterman would take charge of Paramount Network and TV Land to go with his current leadership of Comedy Central and Bellator MMA. [20] In 2019, after acquiring the free streaming service Pluto TV, Viacom would launch several channels on the service branded after its Media Networks and company–owned IP. [21] [22] [23] [24]
Viacom Inc. [a] (derived from "Video & Audio Communications") was an American mass media and entertainment conglomerate based in New York City.It began as CBS Television Film Sales, the broadcast syndication division of the CBS television network in 1952; it was renamed CBS Films in 1958, renamed CBS Enterprises in 1968, renamed Viacom in 1970, and spun off into its own company in 1971.
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.
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.
On December 4, 2008, Viacom announced layoffs of 850 personnel, or 7% of their workforce. [23] At the end of the year, Time Warner Cable (along with partner Bright House Networks) and Viacom's MTV Networks could not come to terms for the renewal of any Viacom channel beyond the end of year.
All channels listed below are owned by Canadian broadcasters, with Paramount Global owning minor interests where indicated: CMT (90% owned by Corus Entertainment; 10% owned by Paramount Global) MTV (wholly owned by Bell Media; closed on December 31, 2024 - Formerly TalkTV from 2000 to 2006)
[71] [72] Paramount's CBS News and Stations unit announced on May 5, 2023, that its eight CW stations would become independent on September 1, per the Nexstar buyout deal. [73] On August 7, Paramount announced that it had agreed to sell Simon & Schuster to private equity firm KKR for $1.6 billion in cash. [74] The sale was completed on October ...