Viacom (2005–2019)
The second incarnation of Viacom Inc. (/ˈvaɪəkɒm/ VY-ə-kom or /ˈviːəkɒm/ VEE-ə-kom; a portmanteau of Video & Audio Communications), was an American multinational mass media and entertainment conglomerate with interests primarily in film and television. It was established on December 31, 2005, as one of two companies which succeeded the original Viacom, alongside the second CBS Corporation. The controlling shareholder of both companies was National Amusements, a theater company headed by businessman Sumner Redstone. The split was structured so that the original Viacom changed its name to CBS Corporation and spun out its cable and film interests as a new Viacom.[4][5][6][7][8]
This article is about the media conglomerate in operation from 2005 to 2019. For the previous incarnation of the company, see Viacom (1952–2005).Company type
December 31, 2005
December 4, 2019
Merged with the second incarnation of CBS Corporation[1]
ViacomCBS (now known as Paramount Global)
Worldwide
- Sumner Redstone
- (chairman emeritus)
- Thomas J. May
- (chairman)
- Bob Bakish
- (president and CEO)
US$2.462 billion (2019)[2]
US$1.522 billion (2019)[2]
US$23.671 billion (2019)[2]
US$8.520 billion (2019)[2]
National Amusements (80% voting power)
11,200 (2017)[3]
www.viacom.com (archived Dec 3, 2019)
The second Viacom operated Viacom Media Networks, through which it controlled approximately 170 networks and reached approximately 700 million subscribers in approximately 160 countries.[9] Viacom's studio assets included Paramount Pictures, MTV Films, and Nickelodeon Animation Studio, as well as a 30% ownership stake in the Rainbow S.p.A. animation studio.[10] 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.
Viacom would announce its second merger with CBS Corporation on August 13, 2019. The merger was completed on December 4, resulting in the creation of ViacomCBS (now Paramount Global).[11][12][13]
1912
Famous Players Film Company is founded
Lasky Feature Play Company is founded
Paramount Pictures is founded as a film distributor
Famous Players and Lasky merge as Famous Players–Lasky and acquire Paramount
Westinghouse Broadcasting forms with the launch of KDKA-AM
CBS is founded; Famous Players–Lasky assumes Paramount's name
Paramount buys 49% of CBS
Paramount sells back shares of CBS
Desilu is founded and CBS distributes its television programs
CBS creates the CBS Television Film Sales division
CBS Television Film Sales renamed to CBS Films
Gulf+Western buys Paramount
Gulf+Western acquires Desilu and renames it Paramount Television; CBS Films becomes CBS Enterprises
CBS Enterprises renamed to Viacom
Viacom is spun off from CBS as a separate company
Viacom buys full ownership of Showtime and MTV Networks
National Amusements buys Viacom
Gulf+Western renamed to Paramount Communications
Viacom acquires Paramount Communications
Westinghouse buys CBS
Westinghouse renamed to CBS Corporation
Viacom buys CBS Corporation
Viacom buys BET Networks
Viacom splits into second CBS Corporation and Viacom
CBS Corporation and Viacom re-merge as ViacomCBS
ViacomCBS renamed to Paramount Global
Corporate governance[edit]
The previous board of directors of Viacom were George S. Abrams, David Andelman, Joseph Califano, Jr., William Cohen, Philippe Dauman, Alan C. Greenberg, Charles Phillips, Shari Redstone, Sumner Redstone (deceased), Frederic Salerno, William Schwartz, and Robert D. Walter.
Following the Viacom/CBS split, the Viacom board consisted of George S. Abrams, Philippe Dauman, Thomas E. Dooley, Ellen V. Futter, Robert Kraft, Alan Greenberg, Charles Phillips, Sumner Redstone (chairman), Shari Redstone (non-executive vice-chair), Frederic Salerno, and William Schwartz. As of 2010, the Board consisted of George Abrams, Philippe Dauman, Thomas E. Dooley, Alan Greenberg, Robert Kraft, Blythe McGarvie, Bob Bakish, Charles Phillips, Shari E. Redstone, Sumner Redstone, Frederic Salerno, and William Schwartz.[93]