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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.
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, Channel 10, PopTV, Simon and ...
In 1999, Viacom bought out United Television's interests, and handed responsibility for the start-up network to the newly acquired CBS unit, which Viacom bought in 1999 – an ironic confluence of events as Paramount had once invested in CBS, and Viacom had once been the syndication arm of CBS as well. [1]
The Paramount Television Network was a venture by American film corporation Paramount Pictures to organize a television network in the late 1940s. The company built television stations KTLA in Los Angeles and WBBM-TV in Chicago; it also invested US$400,000 in the DuMont Television Network, which operated stations WABD (now WNYW) in New York City, WTTG in Washington, D.C., and WDTV (now KDKA-TV ...
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 original incarnation of Viacom purchased Paramount in 1993, with the deal closing in March 1994; Viacom's existing group of CBS- and NBC-affiliated stations continued to be run separately from the Paramount stations until December 1995, when they were folded into PSG. [5] Viacom also included its part-time LMA with WVIT, that of WTXX. [6]
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 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 ...