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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.
CBS Corporation was an American multinational media company with interests primarily in commercial broadcasting, publishing, and television production.It was split from Viacom on January 1, 2006, alongside an entirely new Viacom; both CBS Corporation and the second Viacom were controlled by National Amusements, a theater company owned by billionaire Sumner Redstone.
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 ...
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. [40] [41] [42] 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. [42]
CBS and Viacom are finally, really, back to together. Less than four months after announcing their intentions to rejoin as one company, the companies closed their merger on Wednesday, beginning ...
CBS Corporation retained the over-the-air broadcasting, television production, pay television subscription service, and publishing assets, which were previously owned by the first Viacom. The second Viacom was the world's ninth-largest media company in terms of revenue and headquartered at One Astor Plaza in Midtown Manhattan , New York City .
After years of deliberation, the merger is finally approaching a close, and the entertainment world gets a little smaller.
CBS Corp and Viacom Inc agreed to merge on Tuesday, creating a company with more than $28 billion in revenue.