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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.
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]
12 Channel originally owned by the first incarnation of Viacom, and earlier with former partner Warner-Amex, and later became part of CBS Corporation following Viacom's split in 2006. Showtime was established in 1976, and The Movie Channel was established in 1973 as Star Channel and relaunched under its current name in 1979.
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 ...
Investors anticipated Viacom benefiting from the split, but instead, it dropped approximately 20 percent, while CBS Corporation rose 9 percent, that same year, Paramount Parks became a wholly-owned theme park unit of CBS Corporation. [8] The second Viacom was created by Redstone and headed by Freston.
On August 13, 2019, CBS and Viacom officially announced their merger; CBS would purchase Viacom and change its name to ViacomCBS (now Paramount Global). Bakish would become president and CEO of ViacomCBS with Ianniello serving as chairman and CEO of CBS, where he would oversee the CBS-branded assets.
In May 2018, Viacom announced that it would rebrand Paramount Channel in Spain under the Paramount Network name on June 10, 2018, marking Viacom's first property outside of the U.S. to adopt the brand. Paramount Channel in Spain had been among Viacom's most successful international properties.
Paramount Networks Southern Europe, Middle East, and Africa (SWEMEA), which serves France, French-speaking Switzerland, Italy, Spain, Portugal, the Middle East and Africa. Paramount Networks Italia, a division that was founded in 2011 in order for Viacom to purchase a 30% ownership stake in the Rainbow S.p.A. animation studio. [4]