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2000 – CBS acquired by Viacom; 2005 – Viacom is split into two companies in January, with a new Viacom being spun off of the old Viacom company, and the old Viacom being renamed as CBS Corporation, thus reviving Westinghouse's last name prior to sale, and reversing the 2000 Viacom-CBS merger [54] [55]
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 ...
[48] [49] As part of the re-merger deal, CBS acquired Viacom for up to $15.4 billion. [50] On August 13, 2019, CBS and Viacom agreed to merge into a new entity known as ViacomCBS (now Paramount Global), with Viacom CEO Bob Bakish as president and CEO of the new company and CBS CEO Ianniello as chairman and CEO of CBS and oversee CBS-branded ...
In 1999, CBS Corporation sold its nuclear business (Westinghouse Electric Company) to British Nuclear Fuels Limited (BNFL) [4] and a year later CBS Corporation was merged into Viacom (1971–2005), putting an end to the original Westinghouse.
CBS and Viacom - both owned by the Redstone family - began trading as a combined company on Dec. 5. Executives had projected that the merged company would result in $500 million worth of cost savings.
Shari Redstone can’t wait to ring that bell. After three years and three tries, Viacom and CBS Corp. have been reunited as one company, ViacomCBS, as of Wednesday. The closing of the deal ...
Wall Street analysts are taking a wait-and-see approach to the long-anticipated merger CBS Corporation (NYSE: CBS)-Viacom, Inc. (NASDAQ: VIAB) merger, questioning whether the combined companies ...
The original phase of 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 ...