CBS Corporation

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CBS Corporation
CBS Corporation.jpg
Founded 1971 (as Viacom)
2005 (as CBS Corporation)
President Leslie Moonves
Notable Works CBS, Showtime, CBS Television Studios

CBS Corporation is a US media conglomerate, the current owner of the CBS network and Showtime.

Contents

History

As Viacom

CBS Corporation traces its roots back to 1952, when CBS established its television syndication division of CBS Films, soon to be renamed CBS Enterprises in January 1968.

Due to legal reasons resulting from a 1970 Federal Communications Commission ruling that forbid the American broadcast networks from distributing their own network programming for off-network syndication or from producing shows for first-run syndication, CBS Enterprises was spun off in 1971, creating a new, independent company; Viacom. The main subsidiaries of Viacom were Viacom Enterprises, which took CBS Enterprises' old duties, and Viacom Productions, which was created to produce series for the major networks.

In 1976, Viacom launched premium cable channel Showtime, and during the late 1970s and the 1980s, they acquired several radio and TV stations. In 1985, they bought Warner-Amex Satellite Entertainment (which had been co-owner of Showtime/TMC, soon to be renamed Showtime Networks, the company managing Showtime as well as its sister channel The Movie Channe), renaming it MTV Networks.

The 1990 launched Viacom owned channel Ha! merged with Time Warner' rivaling The Comedy Channel in 1991, creating the joint-venture Comedy Central (fully owned by Viacom since 2003).

In 1994 Viacom acquired major movie studio Paramount Pictures, including its TV production and distribution companies. This was followed in 2000 by the purchase of the CBS and UPN broadcasting networks (alongside CBS's production and syndication units, as well as cable channels TNN (now Spike) and CMT). Later that year Viacom also bought the BET Networks.

The Viacom split

Due to personal conflicts and stagnating stock price, Viacom split in 2005. The "old" Viacom was renamed CBS Corporation, and remained owner of CBS and its subsidiaries, UPN, Showtime Networks, and the Paramount television subsidiaries. Meanwhile the "new" Viacom gained Paramount Pictures, BET Networks and MTV Networks, which by now included most of the company's acquired cable networks.

On September 29, 2016, CBS Corporation parent National Amusements announced that it is seeking to encourage CBS and co-owned Viacom to re-merge into one company, which would remain under the ownership of National Amusements, which also announced that it would not accept any offers from outside companies to acquire control of that company, Viacom or CBS Corporation.[1] On December 12, 2016, it was announced that the proposed CBS/Viacom re-merger had been cancelled.[2]

Current US television assets

Networks

Production companies

Syndication companies

Additional US television assets

Defunct assets

Acquired catalogs

References

  1. National Amusements proposes Viacom, CBS reunion, cites "Substantial Synergies"
  2. Shari Redstone withdraws CBS-Viacom merger proposal