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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 ...
Reports said that CBS Corporation and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies. [ 16 ] [ 17 ] CBS Corporation announced its plan to acquire Viacom as part of the re-merger deal for up to $15.4 billion.
CBS Corporation was an American multinational media company with interests primarily in commercial broadcasting, publishing, and television production.It was split from Viacom on December 31, 2005, 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.
Reports say that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies. [76] [77] CBS announced to acquire Viacom as part of the re-merger deal for up to $15.4 billion. [78] On August 2, 2019, it was reported that CBS and Viacom agreed to merge back into one entity.
On December 31, 2005, Viacom split into two companies: a new company keeping the Viacom name (which took the original company's film and most of its cable television properties), and CBS Corporation (essentially the old Viacom renamed, which retained the broadcast properties, along with Showtime Networks). In this "split", ownership of UPN went ...
After years of deliberation, the merger is finally approaching a close, and the entertainment world gets a little smaller.
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 ...
However, in 1999, entertainment conglomerate Viacom, which had been created by CBS in 1952 as CBS Television Film Sales to syndicate old CBS series and was eventually spun off under the Viacom name in 1971, announced it was taking over its former parent in a deal valued at $37 billion. Completed on April 26, 2000, upon which Viacom became the ...