What was the original name and founding date of the first incarnation of Viacom Inc.?

The first incarnation of Viacom Inc. began as CBS Television Film Sales on March 16, 1952. This entity was the broadcast syndication division of the CBS television network.

What does the name "Viacom" stand for, and when did the company officially adopt this name?

The name "Viacom" is derived from "Video & Audio Communications." The division was incorporated as Viacom in July 1970, and officially became Viacom when it was spun off from CBS on January 1, 1971.

How did Viacom's name and structure evolve from its inception until its spin-off?

Viacom originated as CBS Television Film Sales in 1952. It was renamed CBS Films in 1958, then CBS Enterprises in 1968. In 1970, it was incorporated as Viacom and subsequently spun off from CBS in 1971.

Why was Viacom spun off from CBS in 1971?

Viacom was spun off from its parent company, CBS, on January 1, 1971, due to new rules implemented by the Federal Communications Commission (FCC). These rules prohibited television networks from owning syndication companies, although the rules were later repealed.

Who founded Viacom, and what was his initial role?

Viacom was founded by Ralph Baruch. He served as the inaugural chairman and was instrumental in establishing the company's early operations.

When did Sumner Redstone gain control of Viacom, and through which company?

Sumner Redstone acquired a controlling interest in Viacom on June 10, 1987. He achieved this through his cinema chain company, National Amusements.

What were some of the major acquisitions made by Viacom under Sumner Redstone's control?

Under Sumner Redstone's leadership, Viacom made significant acquisitions, including Paramount Communications in 1994, Blockbuster Video in 1994, and CBS Corporation in 2000. It also acquired BET Holdings in 2001 and Comedy Central in 2003.

What significant assets did Viacom possess at the time of its split in 2005?

At the time of its split, Viacom's assets included the CBS and UPN broadcast networks, the Paramount Pictures film and television studio, CBS Radio, cable channels such as MTV, Nickelodeon, Comedy Central, BET, and Showtime, the outdoor media operator Viacom Outdoor, King World Productions, and the book publisher Simon & Schuster.

When did Viacom officially split into two separate companies, and what were their names?

Viacom split into two companies on December 31, 2005. The resulting entities were the second incarnation of CBS Corporation and the second incarnation of Viacom.

Which of the two companies formed from the 2005 Viacom split was considered the legal successor to the original Viacom?

The second CBS Corporation, which was headed by Les Moonves, was structured as the legal successor to the original Viacom Inc. after the split.

What happened to Viacom's assets after the 2005 split?

Following the split, the second CBS Corporation retained assets like CBS, Simon & Schuster, and Paramount Network Television. The second Viacom, headed by Tom Freston, took ownership of MTV Networks, BET Networks, and Paramount Pictures.

When did the two Viacom entities (CBS Corporation and Viacom) re-merge, and what was the combined company initially called?

CBS Corporation and Viacom officially announced their re-merger deal on August 13, 2019, and the transaction closed on December 4, 2019. The combined company was initially named ViacomCBS.

What is the current name of the company formed by the 2019 re-merger of CBS and Viacom?

The company formed by the 2019 re-merger, initially named ViacomCBS, was renamed Paramount Global on February 16, 2022.

What was the purpose of Viacom Network Enterprises, established in 1987?

Viacom Network Enterprises was established in 1987 to develop and exploit properties outside of Viacom's core cable business. It managed ventures like Viacom's pay-per-view service, Viewer's Choice, and handled strategic planning for Viacom Networks Group, including merchandising and licensing for Showtime-The Movie Channel, Inc. and MTV Networks.

When did Viacom establish its own division for producing feature films for television, and what was it called?

In 1989, Viacom established its own division called Viacom Pictures to produce feature films, primarily for Showtime.

What was the significance of Viacom's acquisition of Paramount Communications in 1994?

The acquisition of Paramount Communications in 1994 was a major event that transformed Viacom into one of the world's largest entertainment companies, significantly expanding its portfolio with assets like Paramount Pictures.

How did Viacom's acquisition of CBS Corporation in 2000 impact the company's structure?

The acquisition of CBS Corporation in 2000, valued at $35.9 billion, effectively reunited Viacom with its former parent company, CBS. This merger brought CBS's cable channels (like TNN and CMT) and production units (Eyemark Entertainment and King World) under Viacom's umbrella.

What was the rationale behind Viacom's decision to split in March 2005?

Viacom announced its intention to split in March 2005 due to a stagnating stock price. The plan was to divide the company into two entities: one for "slow-growth" assets and another for "high-growth" divisions, under National Amusements' control.

Besides financial performance, what other factors contributed to the decision to split Viacom in 2005?

Internal rivalries between CBS chairman Les Moonves and MTV Networks CEO Tom Freston, along with the controversy surrounding the Super Bowl XXXVIII halftime show, were also cited as factors influencing the decision to split Viacom. The departure of Mel Karmazin also played a role in restructuring leadership.

What was the role of National Amusements in Viacom's corporate structure?

National Amusements, controlled by the Redstone family, held a majority economic interest in Viacom. Specifically, it maintained 71% voting control through its stock holdings, influencing major decisions like the 2005 split and the 2019 re-merger.

When did Viacom operate cable television systems, and what happened to these assets?

Viacom operated cable television systems, generally known as Viacom Cablevision and later Viacom Cable, from its formation until 1995. In 1995, Viacom sold this division, which had approximately 1.1 million subscribers, to TCI. These assets are now part of Comcast.

What were the primary broadcast networks owned by Viacom at the time of its 2005 split?

At the time of its 2005 split, Viacom owned the CBS and UPN broadcast networks.

Which major book publisher was part of Viacom's asset portfolio before the 2005 split?

Simon & Schuster, a prominent book publisher, was among the key assets owned by Viacom prior to its split in 2005.

What was the outcome of Viacom's acquisition of BET Holdings in 2001?

Following the acquisition of BET Holdings in 2001, BET was initially integrated into MTV Networks. However, due to outcry from BET workers, BET was subsequently separated into its own division known as BET Networks.

Which German media company did Viacom acquire in June 2004?

In June 2004, Viacom's MTV Networks International acquired VIVA Media AG, which was the German equivalent of MTV.

What was the fate of the Blockbuster chain after Viacom's acquisition?

Viacom acquired the Blockbuster Video chain in 1994. Viacom later completed the spin-off of its interest in Blockbuster in October 2004.

Which radio stations were acquired by Viacom in 1980 as part of the Sonderling Broadcasting deal?

As part of the 1980 Sonderling Broadcasting deal, Viacom acquired radio stations in New York City, Washington, D.C., Houston, and San Francisco. The television station WAST (now WNYT) in Albany, New York, was also acquired in this transaction.

What is the difference between the two pronunciations of "Viacom" mentioned in the source?

The source notes two pronunciations: "VIE-uh-com," favored by founder Ralph Baruch, and "VY-uh-com," favored by Sumner Redstone after his acquisition of the company in 1987.

When did Viacom acquire the rights to distribute programs from Aaron Spelling's company?

Viacom acquired the rights to various features and programming from Aaron Spelling's company, which included his own productions and pre-1973 ABC and NBC libraries through Worldvision Enterprises and Republic Pictures, following its acquisition of Paramount Communications.

What was the purpose of the joint venture that launched the UPN network?

Viacom, through its Paramount Stations Group, partnered with Chris-Craft Industries in a joint venture to launch the UPN network, which began operations in January 1995.

When did Viacom exit the broadcast radio business, and was this a permanent exit?

Viacom exited the broadcast radio business in 1997 when it sold the majority of its stations to Chancellor Media. However, this was a temporary exit, as Viacom later returned to operating radio stations after acquiring the remaining shares of Infinity Broadcasting in 2002.

Which cable channels were integrated into Viacom's MTV Networks wing after the 2000 merger with CBS Corporation?

After the 2000 merger with CBS Corporation, Viacom integrated CBS's cable channels TNN (now Paramount Network) and Country Music Television (CMT) into its MTV Networks wing.

What was the role of Westinghouse Licensing Corporation within Viacom?

Westinghouse Licensing Corporation was an IP holding subsidiary of Viacom, involved in brand licensing.

What was the initial purpose of CBS Television Film Sales?

CBS Television Film Sales was established as the broadcast syndication division of the CBS television network, responsible for distributing television programs.

When did Viacom first enter the radio station ownership market?

Viacom first entered the radio station ownership market in 1980 when it purchased stations from Sonderling Broadcasting.

Which major film studio did Viacom acquire in 1994?

In 1994, Viacom acquired Paramount Communications, which was the parent company of Paramount Pictures.

What was the approximate number of subscribers Viacom Cable had when it was sold in 1995?

By 1995, Viacom Cable had approximately 1.1 million subscribers when it was sold to TCI.

What was the stated reason for Viacom's split into two companies in 2005, beyond financial performance?

Beyond financial performance, the internal rivalry between Les Moonves and Tom Freston, and the controversy surrounding the Super Bowl XXXVIII halftime show were also cited as factors contributing to the decision to split Viacom.

What was the name of the division Viacom established in 1987 to develop properties outside its core cable business?

In 1987, Viacom established the Viacom Network Enterprises division to develop and exploit properties outside of its core cable business.

Which television network did Viacom launch in January 1995 as a joint venture?

In January 1995, Viacom launched the UPN network as a joint venture with Chris-Craft Industries.

What was the value of the deal when Viacom acquired CBS Corporation in 1999?

Viacom announced its acquisition of CBS Corporation in September 1999 for $35.9 billion, which was the largest media merger in history at that time.

What is the significance of the year 2005 for Viacom's corporate structure?

The year 2005 is significant because Viacom announced its plan to split into two companies, which was completed on December 31, 2005, creating the second CBS Corporation and the second Viacom.

What was the original purpose of the company that would eventually become Viacom?

The company that would eventually become Viacom originated as the broadcast syndication division of CBS, named CBS Television Film Sales, with the purpose of distributing television programs.

When did Viacom acquire MTV Networks?

Viacom acquired MTV Networks in 1985, with the deal being completed in 1986. This acquisition marked Viacom's transition into a broader mass media company.

What role did National Amusements play in Viacom's ownership structure?

National Amusements, controlled by the Redstone family, held a majority voting power in Viacom, owning 80% of its voting stock. This control was significant in major corporate decisions, including acquisitions and the company's eventual split.

What was the primary business of Viacom before its significant acquisitions in the 1990s?

Before its major acquisitions in the 1990s, Viacom primarily operated as a distributor of television programs, including CBS television series and other syndicated content, and also owned cable systems.

What was the stated reason for Viacom's split in 2005 regarding asset growth?

Viacom planned to split into two companies in 2005, separating its "slow-growth" assets from its "high-growth" divisions, as a strategy to address a stagnating stock price.

Which major book publisher was acquired by Viacom in 2000 as part of the CBS Corporation merger?

As part of the merger with CBS Corporation in 2000, Viacom acquired Simon & Schuster, a significant book publisher.

What is the significance of the year 2019 for the entities that originated from Viacom?

In 2019, the two companies that resulted from Viacom's 2005 split, CBS Corporation and Viacom, re-merged to form ViacomCBS, marking a significant consolidation of media assets.

What was the original purpose of CBS Television Film Sales?

CBS Television Film Sales was created to handle the broadcast syndication of television programs produced by CBS.

Viacom 1952 U20132005 Wiki: Viacom's Trajectory: A Media Conglomerate's Evolution (1952-2005)

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Foundational Roots

Genesis within CBS

Viacom's origins trace back to March 16, 1952, when CBS established its broadcast syndication division, initially named CBS Television Film Sales. This entity was instrumental in distributing television programming. Over the years, it underwent several name changes: becoming CBS Films in 1958, then CBS Enterprises Inc. in 1968. In July 1970, it was renamed Viacom, signifying its transition towards independence.^{^}^{^}^{^}

Independence and Early Operations

The company officially spun off from CBS on January 1, 1971, driven by new FCC regulations that restricted television networks from owning syndication companies.^{^}^{^}^{^}^{^}^{^}^{^} Initially, Viacom distributed CBS television series and syndicated programs. It also managed cable systems, becoming the largest cable operator in the United States at the time.^{^}

Redstone's Acquisition

A pivotal moment occurred in 1987 when Sumner Redstone, through his cinema chain company National Amusements, acquired a controlling interest in Viacom.^{^} This acquisition marked the beginning of Viacom's aggressive expansion strategy under Redstone's leadership, fundamentally reshaping its structure and market position.

Strategic Growth Through Acquisition

Broadening Media Holdings

Viacom strategically expanded its portfolio throughout the 1980s and 1990s. Key moves included acquiring broadcast television stations (like WVIT, KMOV) and radio stations, significantly increasing its terrestrial media presence.^{^}^{^}^{^}^{^}^{^}^{^} The company also ventured into original programming production and expanded its cable offerings, notably acquiring MTV Networks (including MTV, VH1, and Nickelodeon) in 1986.^{^}

Paramount and Blockbuster

The early 1990s saw Viacom undertake transformative acquisitions. In 1993, it announced plans to merge with Paramount Communications (formerly Gulf+Western), a deal finalized in July 1994, which instantly positioned Viacom as one of the world's largest entertainment conglomerates.^{^} This was followed by the acquisition of the Blockbuster Video chain in 1994.^{^}

Integrating CBS and BET

In a landmark move, Viacom acquired CBS Corporation in a $35.9 billion deal, completed in May 2000. This acquisition effectively reunited Viacom with its former parent company, CBS, and integrated assets like CBS's production units and cable channels (TNN, CMT) under Viacom's umbrella.^{^}^{^}^{^}^{^}^{^} The acquisition of BET Holdings in 2001 further diversified its media portfolio.^{^}

Portfolio of Properties

Television Networks

At its peak before the 2005 split, Viacom controlled major television networks and cable channels, including:

The CBS broadcast network.
The UPN broadcast network.
Cable channels under MTV Networks (MTV, VH1, Nickelodeon, Comedy Central, BET).
Premium cable channel Showtime Networks.

Film and Publishing

Viacom's extensive asset base also included:

Paramount Pictures: A major Hollywood film studio.
Paramount Television: Television production and distribution arm.
CBS Radio: A significant operator of radio stations.
Simon & Schuster: A prominent book publisher.
Viacom Outdoor: An outdoor advertising company.
King World Productions: Television production and distribution firm.

Corporate Structure

The company was headquartered at One Astor Plaza in New York City. National Amusements, controlled by the Redstone family, held a majority voting power (approximately 80%), ensuring significant family influence over the conglomerate's direction.^{^} Key figures included Sumner Redstone (Chairman and CEO), Tom Freston, and Les Moonves.

Corporate Evolution Timeline

Key Milestones

Viacom's history is marked by significant corporate transformations and strategic decisions:

Year	Event
1952	CBS Television Film Sales founded
1971	Spun off from CBS as Viacom
1987	National Amusements acquires controlling interest
1994	Acquisition of Paramount Communications
1995	Launch of UPN network
2000	Acquisition of CBS Corporation
2005	Split into CBS Corporation and Viacom
2019	Re-merger with CBS Corporation
2022	Renamed Paramount Global

The 2005 Corporate Split

Rationale for Division

In March 2005, facing a stagnating stock price and internal leadership dynamics, Viacom announced its intention to split into two distinct publicly traded companies.^{^}^{^} This strategic move aimed to separate the company's "slow-growth" assets from its "high-growth" divisions, potentially unlocking greater shareholder value and addressing management succession challenges.^{^}

Formation of New Entities

The split, effective December 31, 2005, resulted in the creation of two companies, both controlled by National Amusements:^{^}

The second CBS Corporation: Headed by Les Moonves, this entity retained CBS, Simon & Schuster, and Paramount Network Television (later CBS Studios).
The second Viacom: Led by Tom Freston, this new company comprised MTV Networks, BET Networks, and Paramount Pictures.

The second CBS Corporation was structured as the original Viacom's legal successor.^{^}^{^}

Enduring Influence

Shaping the Media Landscape

The first incarnation of Viacom Inc. played a significant role in shaping the modern media and entertainment industry. Its strategic acquisitions and consolidation of major assets created a powerful, diversified conglomerate that influenced television, film, publishing, and cable programming for decades.^{^}

Path to Paramount Global

The entities formed from the 2005 split, CBS Corporation and Viacom, eventually recombined in 2019 to form ViacomCBS. This new entity was subsequently renamed Paramount Global in February 2022, continuing the legacy of the combined media powerhouses.^{^}^{^} The original Viacom name ceased to be used for the primary corporate entity after the 2005 split, though the Viacom brand persisted through its various media channels.

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Viacom's Trajectory

💡 Dive in with Flashcard Learning! 💡

Foundational Roots 🌱

📺 Genesis within CBS

➡️ Independence and Early Operations

🤝 Redstone's Acquisition

Strategic Growth Through Acquisition 🚀

📺 Broadening Media Holdings

🎬 Paramount and Blockbuster

🏢 Integrating CBS and BET

Portfolio of Properties 📚

📺 Television Networks

🎬 Film and Publishing

🏢 Corporate Structure

Corporate Evolution Timeline ⏳

🗓️ Key Milestones

The 2005 Corporate Split ✂️

⚖️ Rationale for Division

🔄 Formation of New Entities

Enduring Influence 🌟

🌐 Shaping the Media Landscape

🔗 Path to Paramount Global

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📜 Important Notice

Dive in with Flashcard Learning!

Foundational Roots

Genesis within CBS

Independence and Early Operations

Redstone's Acquisition

Strategic Growth Through Acquisition

Broadening Media Holdings

Paramount and Blockbuster

Integrating CBS and BET

Portfolio of Properties

Television Networks

Film and Publishing

Corporate Structure

Corporate Evolution Timeline

Key Milestones

The 2005 Corporate Split

Rationale for Division

Formation of New Entities

Enduring Influence

Shaping the Media Landscape

Path to Paramount Global

Study Aids

Flashcards

Knowledge Check

Test Your Understanding

Sources

Cited References

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Disclaimer

Important Notice