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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.
[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 ...
CBS Broadcasting Inc., commonly shortened to CBS (an abbreviation of its original name, Columbia Broadcasting System), is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainment Group division of Paramount Global and is one of the company's three flagship subsidiaries, along with namesake Paramount Pictures and MTV.
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 ...
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 .
The Westinghouse Electric Corporation's purchase of CBS in 1995 then merged the network's owned-and-operated stations with those of Westinghouse Broadcasting (Group W). With the subsequent 2000 merger with Viacom, the CBS-owned stations were combined with Viacom's Paramount Stations Group to form the Viacom Television Stations Group.
CBS Entertainment consists of CBS-branded assets including the CBS television network, CBS News and Stations. It also has a 12.5% ownership stake in The CW Television Network . In addition, the group consists of the BET Media Group , which contains cable television channels including the flagship service BET and VH1 .
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.