This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)(Learn how and when to remove this template message)
Viacom's last logo, used from 1990 to 2006
|Industry||Broadcasting and publishing|
|Founded||March 16, 1952|
|Defunct||January 3, 2006|
|Fate||Split into the second incarnation of CBS Corporation and the second incarnation of Viacom|
|Divisions||Infinity Broadcasting Corporation|
Simon & Schuster
King World Productions
The first incarnation of Viacom Inc.[a] (derived from "Video & Audio Communications") was an American media conglomerate. It began as CBS Television Film Sales, the 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 company in 1971. Viacom was a distributor of CBS television series throughout the 1970s and 1980s, and also distributed syndicated television programs.
In 1999, Viacom acquired the then-parent company of CBS, the former Westinghouse Electric Corporation, which had been renamed CBS Corporation in 1997. Viacom was split into the second CBS Corporation and Viacom incarnations, and ceased operations in 2006. The spin-off was structured so that CBS Corporation would be the legal successor to the first Viacom, with the second Viacom being an entirely separated company. The two companies eventually re-merged on December 4, 2019, leading to the operations of the current ViacomCBS.
|1912||Paramount Pictures is founded|
|1927||CBS is founded|
|1952||CBS creates the CBS Television Film Sales division|
|1958||CBS Television Film Sales renamed as CBS Films|
|1968||CBS Films renamed as CBS Enterprises|
|1970||CBS Enterprises renamed as Viacom|
|1971||Viacom is spun off from CBS as a separate company|
|1985||Viacom buys full ownership of Showtime Networks and MTV Networks|
|1986||National Amusements buys Viacom|
|1994||Viacom acquires Paramount Communications|
|1995||Westinghouse buys CBS|
|1997||Westinghouse renamed as CBS Corporation|
|1999||CBS Corporation buys King World Productions|
|1999||Viacom buys CBS Corporation|
|2001||Viacom buys BET Networks|
|2006||Viacom splits into second CBS Corporation and Viacom|
|2019||CBS Corporation and Viacom re-merge to form ViacomCBS|
Viacom began as CBS Television Film Sales, the broadcast syndication division of CBS established in 1952 and renamed as CBS Films in 1958, and again renamed as CBS Enterprises Inc. in January 1968. The division was incorporated in 1970 as Viacom and spun off in 1971, amid new FCC rules forbidding television networks from owning syndication companies (the rules were later repealed).
In addition to CBS TV series syndication rights, Viacom also held cable systems with 90,000 cable subscribers, at that time the largest in the US. In 1976, Viacom started Showtime, a pay movie channel, with Warner-Amex taking a half-share ownership. The company went into original programming production starting in the late 1970s until the early 1980s with middling results.
String of acquisitions
Viacom's first broadcast station acquisition came in 1978 when the company purchased WHNB-TV in New Britain, Connecticut, changing its call letters to WVIT. Two years later Viacom added the Sonderling Broadcasting chain, giving it radio stations in New York City, Washington, D.C., Houston, and San Francisco, and one television station, WAST (now WNYT) in Albany, New York.
In 1983 Viacom purchased KSLA in Shreveport, Louisiana, and WHEC-TV in Rochester, New York, in separate transactions. This was followed in 1986 with CBS-owned KMOX-TV in St. Louis; with the purchase, that station's call letters were changed to KMOV.
In 1985, Viacom fully acquired Showtime/The Movie Channel, Inc. from Warner-Amex, ending the joint venture. Around the same time, Viacom bought MTV Networks, which owned MTV and Nickelodeon. This led to Viacom becoming a mass media company rather than simply a distribution company.
In 1986, movie theater owner National Amusements bought controlling interest in Viacom, which brought Sumner Redstone to the company. Redstone retained the Viacom name and made a string of large acquisitions in the early 1990s, announcing plans to merge with Paramount Communications (formerly Gulf+Western), parent of Paramount Pictures, in 1993, and buying the Blockbuster Video chain in 1994. The acquisition of Paramount Communications in July 1994 made Viacom one of the world's largest entertainment companies.
The Paramount and Blockbuster acquisitions gave Viacom access to large television holdings: An archive of programming controlled by Aaron Spelling's company which included, along with his own productions, the pre-1973 ABC and NBC libraries under Worldvision Enterprises and Republic Pictures; and an expanded group of television station properties which merged Viacom's five existing outlets into Paramount's seven-station group. Viacom used some of these stations to launch the UPN network, which started operations in January 1995 as a joint venture with Chris-Craft Industries. Shortly afterward, Viacom/Paramount spent the next two years selling off its non-UPN affiliated stations to various owners. In 1997, Viacom exited the broadcast radio business, albeit temporarily, when it sold the majority of its stations to Chancellor Media, a predecessor company of iHeartMedia.
In 1999, Viacom made its biggest acquisition to date by announcing plans to merge with its former parent CBS Corporation. The merger was completed in 2000, bringing cable channels TNN (now Paramount Network) and Country Music Television (CMT) under Viacom's MTV Networks wing, as well as CBS's production units and TV distributors Eyemark Entertainment (formerly Group W Productions) and King World under the main wing.
In 2001, Viacom completed its purchase of Black Entertainment Television (BET). As with TNN and CMT, it was immediately integrated into MTV Networks, causing some outcry among BET workers in the Washington area (where BET was based before the merger). As a result, BET was separated from MTV Networks.
Although a majority economic interest in Viacom was held by independent shareholders, the Redstone family maintained 71-percent voting control of the company through National Amusements' holdings of Viacom's stock.
In 2002, Viacom's MTV Networks International bought independently run Dutch music video channel TMF, which at the time was broadcasting in Belgium and the Netherlands. In June 2004, MTVNI bought VIVA Media AG, the German equivalent to MTV. The same month, plans were announced to dispose of Viacom's interest in Blockbuster later that year by means of an exchange offer; the spinoff of Blockbuster was completed in October.
Also in 2002, Viacom acquired the remaining shares of Infinity Broadcasting radio chain, which resulted in Viacom's return to operating radio stations after it originally exited the broadcast radio business in 1997. In April 2003, Viacom acquired the remaining ownership shares of Comedy Central from then-AOL Time Warner, integrating Comedy Central into MTV Networks.
From its formation until 1995, Viacom operated several cable television systems generally located in the Dayton, San Francisco, Nashville and Seattle metropolitan areas. Several of these were originally independent systems that CBS acquired in the 1960s. The division was known as Viacom Cablevision until the early 1990s, when it was renamed to Viacom Cable. By 1995, Viacom Cable had about 1.1 million subscribers. Viacom sold the division to TCI in 1995. Viacom's cable assets are now part of Comcast.
2005 split and 2019 re-merger
In March 2005, the company announced plans of looking into splitting into two publicly traded companies under the continuing ownership of National Amusements because of a stagnating stock price. The internal rivalry between Les Moonves and Tom Freston, longtime heads of CBS and MTV Networks respectively, and the controversy of Super Bowl XXXVIII halftime show, which resulted in MTV being banned from producing any more Super Bowl halftime shows, were also seen as factors. After the departure of Mel Karmazin in 2004, Redstone, who served as chairman and chief executive officer, decided to split the offices of president and chief operating officer between Moonves and Freston. Redstone was set to retire in the near future, and a split would be a creative solution to the matter of replacing him.
The split was approved by Viacom's board on June 14, 2005, and took effect on January 1, 2006, and effectively reversed the Viacom/CBS merger of 1999. The existing Viacom was renamed CBS Corporation (thus restoring its pre-merger name) and was headed by Moonves. It was intended to include Viacom's slower-growing business, namely CBS, The CW (a merger of UPN and The WB), CBS Radio (since sold to Entercom on November 17, 2017), Simon & Schuster (to be sold to Penguin Random House in 2021), CBS Outdoor (formerly Viacom Outdoor), Showtime Networks, CBS Television Studios, CBS Television Distribution and CBS Studios International.
In addition, CBS Corporation was given Paramount Parks, which it later sold to amusement park operator Cedar Fair on June 30, 2006, and the CBS College Sports Network, now known as the CBS Sports Network.
Additionally, a spun-off company was created that took the Viacom name, which was headed by Freston. It comprised MTV Networks, BET Networks, Paramount Pictures, and Paramount Pictures' home entertainment operations. These businesses were categorized as the high-growth businesses. National Amusements continued to be the controlling shareholder of the two companies formed after the split. In September 2006, Redstone fired Freston and named Philippe Dauman as the head of Viacom.
On August 13, 2019, CBS and Viacom officially announced their re-merger deal; the combined company would be called ViacomCBS, with Bob Bakish as president and CEO and Shari Redstone as the chairwoman of the new company. On December 4, 2019, the deal was completed.
Former Viacom-owned stations
Stations are arranged alphabetically by state and community of license.
- Two boldface asterisks appearing following a station's call letters (**) indicate a station that was purchased from Sonderling Broadcasting in 1980, which initiated Viacom's entry into radio station ownership (WAST television in Albany was also purchased through the Sonderling deal);
- This list does not include stations owned by CBS Radio and its predecessors, Westinghouse Broadcasting and Infinity Broadcasting which were acquired by Viacom through its merger with CBS in 2000.
|AM Stations||FM Stations|
|City of License/Market||Station||Years owned||Current ownership status|
|Los Angeles||KJOI/KXEZ/KYSR–98.7||1990–1997||owned by iHeartMedia|
|KQLZ/KXEZ/KIBB–100.3||1993–1997||KKLQ, owned by Educational Media Foundation|
|San Francisco Bay Area||KDIA–1310 **||1980–1993||KMKY, owned by Akai Broadcasting Corporation|
|KDBK/KSRY-FM–98.9||1990–1994||KSOL, owned by Univision Radio|
|KDBQ/KYLZ/KSRI–99.1||1990–1994||KSQL, owned by Univision Radio|
|Denver||KHOW–630||1990–1993||owned by iHeartMedia|
|KHOW-FM/KSYY–95.7||1990–1993||KPTT, owned by iHeartMedia|
|Washington, D.C. -
|WMZQ/WZHF–1390||1984–1997||owned by Multicultural Broadcasting|
|WCPT–730||1993–1997||WTNT, owned by Metro Radio|
|WMZQ-FM–98.7 **||1980–1997||owned by iHeartMedia|
|WCXR-FM–105.9||1993–1997||WMAL-FM, owned by Cumulus Media|
|Chicago||WLAK/WLIT-FM–93.9||1982–1997||owned by iHeartMedia|
|Detroit||WLTI/WDRQ–93.1||1988–1997||owned by Cumulus Media|
|New York City||WWRL–1600 **||1980–1982||owned by NJ Broadcasting LLC|
|WKHK/WLTW–106.7 **||1980–1997||owned by iHeartMedia|
|WAXQ–104.3||1996–1997||owned by iHeartMedia|
|Memphis||WDIA–1070 **||1980–1983||owned by iHeartMedia|
|WRVR–680||1985–1988||WMFS, owned by Entercom|
|WRVR-FM–104.5||1981–1988||owned by Entercom|
|Houston||KIKK–650 **||1980–1993||owned by Entercom|
|KIKK-FM–95.7 **||1980–1993||KKHH, owned by Entercom|
|Seattle – Tacoma||KBSG–1210||1989–1996||KMIA, owned by Bustos Media Holdings, LLC|
|KBSG-FM–97.3||1987–1996||KIRO-FM, owned by Bonneville International|
|KNDD–107.7||1993–1996||owned by Entercom|
- This list does not include other stations owned by Paramount Stations Group which were acquired by Viacom through its acquisition of Paramount Pictures in 1994, nor any other station purchased by Viacom/Paramount following the Paramount acquisition and prior to its merger with CBS in 2000.
|City of license / market||Station||Channel
|Years owned||Current ownership status|
|New Britain – Hartford – New Haven||WVIT||30 (35)||1978–1997||NBC owned-and-operated (O&O)|
|Shreveport – Texarkana||KSLA-TV||12 (17)||1983–1995||CBS affiliate owned by Gray Television|
|St. Louis||KMOV||4 (24)||1986–1997||CBS affiliate owned by Meredith Corporation|
|Albany – Schenectady – Troy||WAST/WNYT||13 (12)||1980–1996||NBC affiliate owned by Hubbard Broadcasting|
|Rochester, New York||WHEC-TV||10 (10)||1983–1996||NBC affiliate owned by Hubbard Broadcasting|
^ Viacom was initially founded in 1971 but was reincorporated in 1986. Effective January 1, 2006, this corporate entity changed its name to CBS Corporation. The present firm known as Viacom was also established at that date and is a new spin-off company created during the CBS-Viacom split.
- The Communicators (video). C-SPAN. November 2, 2007.
- Hagey, Keach (2018). The King of Content: Sumner Redstone's Battle for Viacom, CBS, and Everlasting Control of His Media Empire. New York: HarperBusiness. p. 131. ISBN 9780062654090.
In the beginning, Sumner's Viacom—which he had renamed VIE-uh-com during the first board meeting, in a nod to his fighting spirit […]
- "Broadcasting Magazine, January 29, 1968 (page 8)" (PDF).
- NYSE now trading Viacom shares at Broadcasting History
- CBS Enterprises will sell time for Yankees at Broadcasting History
- "History of Viacom Inc.". International Directory of Company Histories. St. James Press. 2005. Retrieved 16 August 2018 – via FundingUniverse.
- Cite error: The named reference
forbeswas invoked but never defined (see the help page).
- "Viacom gets into station ownership" (PDF). Broadcasting. June 20, 1977. p. 28. Retrieved December 30, 2018.
- "Viacom, Sonderling propose marriage." Broadcasting, March 20, 1978, pp. 33-34. Accessed January 8, 2019. 
- "In brief" (PDF). Broadcasting. January 17, 1983. p. 144. Retrieved January 15, 2019.
- "Changing hands–Proposed" (PDF). Broadcasting. January 24, 1983. p. 74. Retrieved January 15, 2019.
- "Changing hands–Proposed" (PDF). Broadcasting. July 25, 1983. p. 86. Retrieved January 15, 2019.
- "In brief" (PDF). Broadcasting. December 9, 1985. p. 120. Retrieved January 15, 2019.
- "Call letters–Grants–Existing TV's" (PDF). Broadcasting. June 30, 1986. p. 64. Retrieved January 15, 2019.
- Fabrikant, Geraldine (1986-09-17). "VIACOM CHIEF LEADS GROUP'S BUYOUT BID (Published 1986)". The New York Times. ISSN 0362-4331. Retrieved 2021-01-23.
In November 1985, Viacom acquired MTV for $326 million in cash and warrants. One-third of MTV was publicly owned; the rest was owned by Warner Communications and the American Express Company. At the same time, Viacom bought the 50 percent of Showtime, the pay televison service, that it did not already own for $184 million.
- "75 Power Players: The Outsiders". Next Generation. Imagine Media (11): 61. November 1995.
Viacom completed acquisition of Paramount Communications in July 1994, creating one of the world's largest entertainment companies.
- Sims, David (2019-08-19). "Why Viacom and CBS Had to Merge to Survive". The Atlantic. Retrieved 2019-12-18.
- "CBS And Viacom Complete Merger". www.cbsnews.com. Retrieved 2019-12-18.
- "Viacom Completes BET Acquisition". Los Angeles Times. Reuters. 2001-01-24. ISSN 0458-3035. Retrieved 2017-08-14.
- Taylor, Chuck (29 December 1994). "Viacom Expected To Sell Cable Franchises – TCI Group Would Gain 1.1 Million Subscribers". The Seattle Times.
- Taylor, Chuck (22 January 1995). "Cable Execs To Visit Viacom Sites In Seattle Area – Intermedia Partners Optimistic As They Face Regulatory Hurdles, Tax Scrutiny By Congress". The Seattle Times.
- "Entercom Sets Friday Morning Close For CBS Radio Merger". Insideradio.com. Retrieved 2017-11-17.
- Lauer, Douglas Busvine, Klaus (2020-11-25). "Bertelsmann buys Simon & Schuster for $2.2 billion in U.S. publishing play". Reuters. Retrieved 2020-11-25.
- Gasparino, Charles; Moynihan, Lydia (August 13, 2019). "CBS, Viacom agree to merge, forming a $28B entertainment firm". Fox Business. Retrieved August 13, 2019.
- Szalai, George; Bond, Paul; Vlessing, Etan (August 13, 2019). "CBS, Viacom Strike Deal to Recombine". The Hollywood Reporter. Retrieved August 15, 2019.
- "CBS and Viacom To Combine" (PDF). CBS. August 12, 2019.
- "Viacom and CBS Corp. are officially back together again". CBS News. December 4, 2019.