The second incarnation of Viacom Inc. ( or ; a

portmanteau A portmanteau word, or portmanteau (, ) is a blend of wordsmultinational

mass media Mass media refers to a diverse array of media technologies that reach a large audience via mass communication. The technologies through which this communication takes place include a variety of outlets. Broadcast media transmit information ...

conglomerate with interests primarily in

film A film also called a movie, motion picture, moving picture, picture, photoplay or (slang) flick is a work of visual art that simulates experiences and otherwise communicates ideas, stories, perceptions, feelings, beauty, or atmosphere ...

and

television Television, sometimes shortened to TV, is a telecommunication medium for transmitting moving images and sound. The term can refer to a television set, or the medium of television transmission. Television is a mass medium for advertisin ...

, which was formed on December 31, 2005, as a spin-off of the original Viacom (founded by

Ralph Baruch Rudolph Maximilian "Ralph" Baruch (August 5, 1923 – March 3, 2016) was a German Americans, German-American CBS executive and the first president and chief executive of Viacom (1952–2006), Viacom. Early life Baruch was born to a Jewish family ...

in 1952 as CBS Television Film Sales). It was one of two companies which succeeded the original Viacom, alongside the second incarnation of CBS Corporation; both were owned by

National Amusements National Amusements, Inc. is an American privately owned movie theater operator and mass media holding company incorporated in Maryland and based in Norwood, Massachusetts. It is the controlling shareholder of Paramount Global. History The ...

, a theater company controlled by businessman

Sumner Redstone Sumner Murray Redstone ( Rothstein; May 27, 1923 – August 11, 2020) was an American billionaire businessman and media magnate. He was the founder and chairman of the second incarnation of Viacom which was dissolved in 2019 (a year before Redsto ...

. 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 second Viacom operated

Viacom Media Networks Paramount Media Networks (formerly known as Warner Cable Communications, Warner-Amex Satellite Entertainment, MTV Networks, Viacom Media Networks, and ViacomCBS Domestic Media Networks) is an American mass media division of Paramount Global tha ...

, through which it controlled approximately 170 networks and reached approximately 700 million subscribers in approximately 160 countries.Press release: "VIACOM REPORTS EARNINGS GROWTH FOR FOURTH QUARTER AND FULL-YEAR FISCAL 2012"
Viacom Viacom's studio assets included

Paramount Pictures Paramount Pictures Corporation is an American film and television production company, production and Distribution (marketing), distribution company and the main namesake division of Paramount Global (formerly ViacomCBS). It is the fifth-oldes ...

MTV Films MTV Entertainment Studios is the film and television production arm of MTV Entertainment Group, a subsidiary of the Paramount Media Networks division of Paramount Global. Founded in 1991 as MTV Productions, it is a consolidation of the former MTV ...

, and

Nickelodeon Animation Studio Nickelodeon Animation Studio is an American animation studio owned by Paramount Global. It has created many original television programs for Nickelodeon, such as ''SpongeBob SquarePants'', ''The Fairly OddParents'', ''Rugrats'' and ''Avatar: The ...

, as well as a 30% ownership stake in the

Rainbow S.p.A. Rainbow S.p.A. is an Italian studio founded by Iginio Straffi. Viacom (now known as Paramount Global) became a co-owner of the studio in 2011. Rainbow has collaborated with Viacom/Paramount's other company, Nickelodeon, on multiple shows, includi ...

animation studio. 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 One Astor Plaza, also known as 1515 Broadway and formerly the W. T. Grant Building, is a 54-story office building on Times Square in the Theater District, Manhattan, Theater District of Midtown Manhattan in New York City. Designed by Der Scutt o ...

Midtown Manhattan Midtown Manhattan is the central portion of the New York City borough of Manhattan and serves as the city's primary central business district. Midtown is home to some of the city's most prominent buildings, including the Empire State Buildin ...

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

. The second merger between Viacom and CBS Corporation, creating the combined company ViacomCBS (now

Paramount Global Paramount Global (doing business as Paramount) is an American multinational mass media and entertainment conglomerate owned and operated by National Amusements (79.4%) and headquartered at One Astor Plaza in Midtown Manhattan, New York. I ...

), was announced on August 13, 2019; the merger was completed on December 4, 2019.

History

Early years

In March 2005, the first Viacom announced plans of exploring the option of splitting the company into two publicly traded companies because of a stagnating stock price and the rivalry between

Les Moonves Leslie Roy Moonves (; born October 6, 1949) is an American media executive who was the chairman and CEO of CBS Corporation from 2003 until his resignation in September 2018 following numerous allegations of sexual harassment, sexual assault and ...

and

Tom Freston Thomas E. Freston (born November 22, 1945) is an American media proprietor, businessman, and financier. Early life and education Freston grew up in Rowayton, Connecticut. He received a Bachelor of Arts from Saint Michael's College and an MBA from ...

, longtime heads of

CBS CBS Broadcasting Inc., commonly shortened to CBS, the abbreviation of its former legal name Columbia Broadcasting System, is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainmen ...

and

MTV Networks Paramount Media Networks (formerly known as Warner Cable Communications, Warner-Amex Satellite Entertainment, MTV Networks, Viacom Media Networks, and ViacomCBS Domestic Media Networks) is an American mass media division of Paramount Global tha ...

, respectively. Also, the company was facing issues after

MTV MTV (Originally an initialism of Music Television) is an American cable channel that launched on August 1, 1981. Based in New York City, it serves as the flagship property of the MTV Entertainment Group, part of Paramount Media Networks, a di ...

was banned from producing any more

Super Bowl The Super Bowl is the annual final playoff game of the National Football League (NFL) to determine the league champion. It has served as the final game of every NFL season since 1966, replacing the NFL Championship Game. Since 2022, the game ...

halftime shows after the Super Bowl Halftime Show controversy in 2004. After the departure of

Mel Karmazin Melvin Alan "Mel" Karmazin (born August 24, 1943) is an American executive. He was the president of Infinity Broadcasting (formally known as CBS Radio now Entercom) and eventually became the president and CEO of CBS television . From 2004–2012, ...

in 2004,

, 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 was seen as a creative solution to the matter of replacing him. It was also intended to provide alternative investments that would be more appealing to investors: one a high cash flow, lower growth company that could afford to pay a substantial dividend and the other a growing company that would have greater investment opportunities and therefore would not be expected to pay a dividend. The second Viacom, was created and headed by Freston. It consists

BET Networks Black Entertainment Television LLC, doing business as BET Networks, is an American entertainment company that oversees the company's premium cable television channels, including its flagship service BET. It is a subsidiary of media conglomerate Pa ...

, MTV Networks, and

2000s

In June 2005, Viacom announced its purchase of

Neopets ''Neopets'' is a virtual pet website. Users can own virtual pets ("Neopets") and buy virtual items for them using one of two virtual currencies. One currency, called Neopoints, can be earned within the site, and the other, Neocash, can eithe ...

, a virtual pet website, along with

GameTrailers ''GameTrailers'' (''GT'') was an American video gaming website created by Geoffrey R. Grotz and Brandon Jones in 2002. The website specialized in multimedia content, including trailers and gameplay footage of upcoming and recently released v ...

, GoCityKids, and

iFilm iFilm is a discontinued U.S.-based video-sharing website on which users could upload, share and view videos. It was founded by filmmaker Raphael Raphael in 1997. It was later acquired by iFilm.net, a popular online interactive film and media arch ...

. That December, Paramount announced it would acquire

DreamWorks Pictures DreamWorks Pictures (also known as DreamWorks SKG and formerly DreamWorks Studios, commonly referred to as DreamWorks) is an American film company and distribution label of Amblin Partners. It was originally founded on October 12, 1994 as a li ...

. All indications were that the whole of DreamWorks—both live-comedy film and television studios, albeit not the DreamWorks archive (which was sold to a group led by

George Soros George Soros ( name written in eastern order), (born György Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. , he had a net worth of US$8.6 billion, Note that this site is updated daily. having donated mo ...

in March 2006) nor the animated unit (which was not part of the deal)—would remain owned by Viacom, even though CBS acquired Paramount's television studio. In February 2006, Paramount completed the acquisition of DreamWorks. On April 24, Viacom obtained

Xfire Xfire (pronounced "X-Fire") was a proprietary freeware instant messaging service for gamers that also served as a game server browser with various other features. It was available for Microsoft Windows. Xfire was originally developed by Ult ...

. In August, Viacom announced that it had acquired Atom Entertainment for $200 million. In September, Viacom acquired game developer

Harmonix Harmonix Music Systems, Inc., doing business as Harmonix, is an American video game developer company based in Boston, Massachusetts. The company was established in May 1995 by Alex Rigopulos and Eran Egozy. Harmonix is perhaps best known as bei ...

for $175 million. In February 2007, Viacom ordered leaked copyrighted video clips be taken off the video-sharing service

YouTube YouTube is a global online video platform, online video sharing and social media, social media platform headquartered in San Bruno, California. It was launched on February 14, 2005, by Steve Chen, Chad Hurley, and Jawed Karim. It is owned by ...

for copyright reasons. On February 21, Viacom publicly announced they would be offering free online access to their material through Silicon Valley's distributor

Joost Joost () was an Internet TV service, created by Niklas Zennström and Janus Friis (founders of Skype and Kazaa). During 2007–2008 Joost used peer-to-peer TV (P2PTV) technology to distribute content to their Mozilla-based desktop player; in la ...

. On May 21, 2007, Viacom entered into a 50–50 joint venture with Indian media company

Network 18 Network18 Media & Investments Limited, (formerly SGA Finance and Management Service and Network18 Fincap Limited) commonly referred to as the Network18 Group and sometimes as the Network18–Eenadu Group, is an Indian media conglomerate owned b ...

to form

Viacom 18 Viacom18 Media Private Limited is an Indian media and entertainment joint venture between TV18 and Paramount Global based in Mumbai. It was founded in 2007 and owns various channels, as well as content production studios in India. History In ...

which would house Viacom's existing channels in India:

VH1 VH1 (originally an initialism of Video Hits One) is an American basic cable television network based in New York City and owned by Paramount Global. It was created by Warner-Amex Satellite Entertainment, at the time a division of Warner Commun ...

and

Nickelodeon Nickelodeon (often shortened to Nick) is an American pay television television channel, channel which launched on April 1, 1979, as the first cable channel for children. It is run by Paramount Global through its List of assets owned by Param ...

as well as Network 18's

Bollywood Hindi cinema, popularly known as Bollywood and formerly as Bombay cinema, refers to the film industry based in Mumbai, engaged in production of motion pictures in Hindi language. The popular term Bollywood, is a portmanteau of "Bombay" (fo ...

movie business. All future Viacom content for India and new ventures such as a

Hindi Hindi (Devanāgarī: or , ), or more precisely Modern Standard Hindi (Devanagari: ), is an Indo-Aryan language spoken chiefly in the Hindi Belt region encompassing parts of northern, central, eastern, and western India. Hindi has been de ...

entertainment channel and a Hindi movie channel would be housed in this joint venture. On December 19, 2007, Viacom signed a five-year, $500 million contract with

Microsoft Microsoft Corporation is an American multinational technology corporation producing computer software, consumer electronics, personal computers, and related services headquartered at the Microsoft Redmond campus located in Redmond, Washing ...

that included content sharing and advertisement. The deal allowed Microsoft to license many shows from Viacom owned cable television and film studios for use on

Xbox Live The Xbox network, formerly and still sometimes branded as Xbox Live, is an Internet, online multiplayer video game, multiplayer gaming and digital media delivery service created and operated by Microsoft. It was first made available to the Xbox ...

and

MSN MSN (meaning Microsoft Network) is a web portal and related collection of Internet services and apps for Windows and mobile devices, provided by Microsoft and launched on August 24, 1995, alongside the release of Windows 95. The Microsoft Net ...

. The deal also made Viacom a preferred publisher partner for casual game development and distribution through MSN and

Windows Windows is a group of several proprietary graphical operating system families developed and marketed by Microsoft. Each family caters to a certain sector of the computing industry. For example, Windows NT for consumers, Windows Server for serv ...

. On the advertisement side of the deal, Microsoft's Atlas ad-serving division became the exclusive provider of previously unsold advertising inventory on Viacom owned websites. Also, Microsoft purchased a large amount of advertising on Viacom owned broadcasts and online networks. Finally, Microsoft would also collaborate on promotions and sponsorships for MTV and BET award shows, two Viacom-owned cable networks. On December 4, 2008, Viacom announced layoffs of 850 personnel, or 7% of their workforce. At the end of the year,

Time Warner Cable Time Warner Cable, Inc. (TWC) was an American cable television company. Before it was acquired by Charter Communications on May 18, 2016, it was ranked the second largest cable company in the United States by revenue behind only Comcast, operat ...

(along with partner

Bright House Networks Bright House Networks, LLC also simply known as Bright House, was an American telecom company. Prior to its purchase by Charter Communications, it was the tenth-largest multichannel video service provider and the 6th largest cable internet provi ...

) and Viacom's MTV Networks could not come to terms for the renewal of any Viacom channel beyond the end of year. Time Warner Cable's operations include New York City and Los Angeles, with Bright House including the Tampa Bay and Orlando markets, both top-20 markets. This blackout was narrowly avoided when a zero-hour deal was reached shortly after midnight on January 1, 2009. On December 7, 2009, Viacom sold its stake in

MTV Brasil MTV Brasil was a Brazilian over-the-air television network owned by Grupo Abril focused on the youth. The network was launched on 20 October 1990, as the first specialty television network to broadcast over-the-air, becoming the local version ...

Grupo Abril Grupo Abril (simply also known as Abril) is a Brazilian media conglomerate headquartered in São Paulo. The company is the holding company of Editora Abril, which publishes the weekly newsmagazine ''Veja.'' History and profile Victor Civita, an ...

along with rights to the brand. Details on the deal were not disclosed.

2010s

In February 2011,

Hulu Hulu () is an American subscription streaming service majority-owned by The Walt Disney Company, with Comcast's NBCUniversal holding a minority stake. It was launched on October 29, 2007 and it offers a library of films and television serie ...

and Viacom announced the return of ''

The Daily Show with Jon Stewart ''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the m ...

'' and ''

The Colbert Report ''The Colbert Report'' ( ) is an American late-night talk and news satire television program hosted by Stephen Colbert that aired four days a week on Comedy Central from October 17, 2005, to December 18, 2014, for 1,447 episodes. The show focuse ...

'' to Hulu, along with shows from the Viacom library.

's shows are not part of this deal. Also that month, Viacom became a co-owner of

, an Italian television studio best known for the ''

Winx Club ''Winx Club'' is an animated series co-produced by Rainbow S.p.A., Rainbow SpA and later Nickelodeon. It was created by Italian animator Iginio Straffi. The show is set in a magical universe that is inhabited by fairies, witches, and other myth ...

'' franchise. Since the purchase, Viacom's Nickelodeon networks have broadcast Rainbow's shows worldwide. Nickelodeon's American studios have also collaborated with Rainbow on multiple productions, including ''Winx Club'' and '' Club 57''. Later, in October 2011, Viacom purchased a majority stake in

Bellator Fighting Championships Bellator MMA (formerly Bellator Fighting Championships) is an American mixed martial arts promotion founded in 2008 and based in Santa Monica, California, owned and operated as a subsidiary of television and media conglomerate Paramount Global. ...

. Spike TV started to air Bellator in 2013, after the rights to the UFC (

Ultimate Fighting Championship The Ultimate Fighting Championship (UFC) is an American mixed martial arts (MMA) promotion company based in Las Vegas, Nevada. It is owned and operated by Zuffa, a wholly owned subsidiary of Endeavor Group Holdings. It is the largest MMA ...

) library ended in 2012. On December 1, 2011, the company stopped trading on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

(NYSE) and began listing its securities on

Nasdaq The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

instead. The stock ticker symbols are the same as that used while the company was on the NYSE. On July 10, 2012, during contract negotiations over raising carrier rates the U.S. satellite TV provider,

DirecTV DirecTV (trademarked as DIRECTV) is an American multichannel video programming distributor based in El Segundo, California. Originally launched on June 17, 1994, its primary service is a digital satellite service serving the United States. It ...

's executives approached Viacom with a new proposal and a request to continue broadcasting 17 of Viacom's television networks (including Nickelodeon, MTV,

Logo A logo (abbreviation of logotype; ) is a graphic mark, emblem, or symbol used to aid and promote public identification and recognition. It may be of an abstract or figurative design or include the text of the name it represents as in a wordma ...

, and

Comedy Central Comedy Central is an American basic cable channel owned by Paramount Global through its network division's MTV Entertainment Group unit, based in Manhattan. The channel is geared towards young adults aged 18–34 and carries comedy programming ...

) during talks, but received no response and thus Viacom ceased transmission to DirecTV's 20 million subscribers. On July 11, in a counter response to DirecTV advising its subscribers to view original programming from the affected networks online, Viacom scaled back access to recent episodes of Viacom-owned program content available to the websites of its networks. Viacom described this as a "temporary slimdown" until a new carriage deal with DirecTV was reached. Viacom and DirecTV reached an agreement on July 20 to return the interrupted programming. In 2012 CEO Phillip Dauman began to report Viacom's intentions to bundle past programming and make it available on-demand via services like Hulu. On January 22, 2014, Viacom established a marketing division, Viacom Velocity. On April 1, 2014,

Cable One Cable One, Inc. is an American broadband communications provider. Under the Sparklight brand, it provides service to 21 states and 900,000 residential and business customers. It is headquartered in Phoenix, Arizona, though it does not serve that ...

removed 15 channels owned by Viacom (MTV, VH1, Nickelodeon, and

TV Land TV Land is an American pay television channel owned by Paramount Global through its networks division. Originally a spinoff of Nick at Nite consisting exclusively of classic television shows, the channel now airs a combination of recent and cla ...

) off after the two companies failed to reach an agreement. Channels were replaced with other networks, including

BBC America BBC America is an American basic cable network that is jointly owned by BBC Studios and AMC Networks. The channel primarily airs sci-fi and action series and films, as well as selected programs from the BBC (such as its nature documentary ser ...

, Sprout,

Sundance TV Sundance TV (formerly known as Sundance Channel) is an American pay television channel owned by AMC Networks that launched on February 1, 1996. The channel is named after Robert Redford's character in ''Butch Cassidy and the Sundance Kid'' and, w ...

, IFC,

Investigation Discovery Investigation Discovery (stylized and branded on-air as ID since 2008) is an American multinational pay television network dedicated to true crime documentaries owned by Warner Bros. Discovery. As of February 2015, approximately 86 million Ameri ...

, TV One, CMP/TV,

National Geographic Channel National Geographic (formerly National Geographic Channel; abbreviated and trademarked as Nat Geo or Nat Geo TV) is an American pay television television network, network and flagship (broadcasting), flagship channel owned by the National Geograp ...

, and

TheBlaze Blaze Media is an American conservative media company. It was founded in 2018 as a result of a merger between TheBlaze and CRTV LLC. The company's leadership consists of CEO Tyler Cardon and president Gaston Mooney. It is based in Irving, Tex ...

. The change has been deemed permanent. On May 1, 2014, Viacom announced it had agreed to take over the British broadcaster Channel 5 from

Northern & Shell Northern & Shell (holding company name Northern and Shell Network Ltd) is a British publishing group, founded in December 1974 and owned since then by Richard Desmond. Formerly a publisher of pornographic magazines including ''Penthouse'' and ''A ...

, the media group owned by the British newspaper publisher

Richard Desmond Richard Clive Desmond (born 8 December 1951) is a British publisher, businessman and former pornographer. According to the 2021 ''Sunday Times Rich List'', Desmond was the 107th richest person in the United Kingdom. He is the founder of North ...

. Viacom becomes the first American media company to take over a British broadcaster with a public service remit. The purchase of Channel 5 closed on September 10, 2014. On October 1, 2014,

Suddenlink Communications Suddenlink was an American telecommunications subsidiary of Altice USA trading in cable television, broadband, IP telephony, home security, and advertising. Prior to its acquisition by Altice, the company was the seventh largest cable operator wi ...

, removed channels owned by Viacom off after the two companies failed to reach an agreement. Channels were replaced with other networks including Sprout,

FXX FXX is an American basic cable channel owned by the Walt Disney Television unit of The Walt Disney Company through FX Networks, LLC. It is the partner channel of FX, with its programming focusing on original and acquired comedy series and fe ...

Pivot Pivot may refer to: *Pivot, the point of rotation in a lever system *More generally, the center point of any rotational system *Pivot joint, a kind of joint between bones in the body *Pivot turn, a dance move Companies *Incitec Pivot, an Austra ...

Uplifting Entertainment Uplifting Entertainment is a Christian production company based in Pennsylvania. It was conceived by Greg Robbins in 1999, who portrays Pastor Greg, with the purpose of "informing with delight." It was formally founded in Oregon in 2003 as a limi ...

, Investigation Discovery,

Oprah Winfrey Network Oprah Winfrey Network (OWN) is an American multinational basic cable channel jointly owned by Warner Bros. Discovery and Harpo Studios that launched on January 1, 2011, replacing the Discovery Health Channel. The network is led by talk show h ...

Women's Entertainment We TV (stylized as WE tv) is an American pay television channel. Owned by AMC Networks since its September 1997 launch, it is oriented mainly towards lifestyle and entertainment programming. As of February 2015, approximately 85.2 million Ameri ...

, and TheBlaze. On August 20, 2016, a settlement between Sumner and

Shari Redstone Shari Ellin Redstone (born April 14, 1954) is an American media executive with a background in numerous aspects of the entertainment industry and related ventures. She currently serves as the non-executive chairwoman of Paramount Global (formerly ...

and Philippe Dauman was reached that would have him resign as chief executive officer and be replaced with

Thomas E. Dooley Thomas E. Dooley was the interim president and CEO of Viacom from August until November 15, 2016. He was named COO in May 2010. He had previously held the position of senior executive vice president, chief financial officer and chief administrativ ...

as interim CEO. Dauman would continue to serve as chairman until September 13. On May 25, 2017, Viacom channels returned to Suddenlink after nearly 3 years of absence. In November 2016, Viacom bought Argentine television network

Telefe Telefe (acronym for Televisión Federal) is a television station located in Buenos Aires, Argentina. The station is owned and operated by Paramount Global through Televisión Federal S.A. Telefe is also one of Argentina's six national television ...

. In December 2016, the Viacom board appointed Bob Bakish as acting CEO. His appointment as president and CEO was made permanent on December 12, 2016. In November 2017, Viacom announced the opening of a new digital content division named Viacom Digital Studios. The company has hired former

AwesomenessTV Awesomeness (abbreviation of AwesomenessTV) is an American-based film and television studio as well as a multi-channel based multilingual television network owned by Paramount Digital Studios, a division of Paramount Global. Established in June ...

chief business officer Kelly Day to lead the studio. Day began her duties on November 20. In February 2018, Viacom announced their plans to acquire the internet video conference

VidCon VidCon is an annual convention for fans, creators, executives, and online brands. The event primarily features prominent video stars from across the internet. In October 2020, VidCon Now relaunched as an ongoing, free digital offering. Vetera ...

in an effort to reach out to youth audiences (in a similar way to Viacom's Nickelodeon and MTV channels). In the same month, Viacom announced that they would launch an official Viacom streaming service in fall 2018, in another effort by Bakish to revitalize the company. This streaming service would support ads (similar to Hulu) and was expected to include television series from Viacom Media Networks that have not been available on other services, such as Hulu or

Amazon Prime Video Amazon Prime Video, also known simply as Prime Video, is an American Video on demand#Subscription models, subscription video on-demand Over-the-top media service, over-the-top Streaming media, streaming and Renting, rental service of Amazon (c ...

. Bakish has stated that the streaming service would serve as a "complement" to OTT MVPDs, rather than a replacement. In April 2018, Viacom hosted its first presentation at the annual Digital Content NewFronts, where they announced new original content for sites such as

Facebook Facebook is an online social media and social networking service owned by American company Meta Platforms. Founded in 2004 by Mark Zuckerberg with fellow Harvard College students and roommates Eduardo Saverin, Andrew McCollum, Dustin M ...

Twitter Twitter is an online social media and social networking service owned and operated by American company Twitter, Inc., on which users post and interact with 280-character-long messages known as "tweets". Registered users can post, like, and ...

, and

Snapchat Snapchat is an American multimedia instant messaging app and service developed by Snap Inc., originally Snapchat Inc. One of the principal features of Snapchat is that pictures and messages are usually only available for a short time before the ...

. They also announced the expansion of VidCon to London in 2019 at the same conference. On July 25, 2018, Viacom announced that it was in talks to acquire AwesomenessTV for a fraction of the company's $650 million valuation in 2016. Two days later on July 27, Viacom officially acquired the company for $25 million. Jordan Levin would leave his position as CEO of AwesomenessTV following the acquisition. In January 2019, it was announced that Viacom has acquired Internet television streaming service,

Pluto TV Pluto TV is a free, ad-supported video streaming service owned and operated by the Paramount Streaming division of Paramount Global. Co-founded by Tom Ryan, Ilya Pozin and Nick Grouf in 2013 and based in Los Angeles, California, in the United Sta ...

for $340 million.

Re-merger deal with CBS

On September 29, 2016,

sent a letter to Viacom and

CBS Corporation The second incarnation of CBS Corporation (the first being a short-lived rename of the Westinghouse Electric Corporation) was an American multinational media conglomerate with interests primarily in commercial broadcasting, publishing, and t ...

, encouraging the two companies to merge back into one company. On December 12, the deal was called off. On January 12, 2018,

CNBC CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sho ...

reported that Viacom had re-entered talks to merge back into CBS Corporation after the

AT&T AT&T Inc. is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the world's largest telecommunications company by revenue and the third largest provider of mobile tel ...

Time Warner Warner Media, LLC ( traded as WarnerMedia) was an American multinational mass media and entertainment conglomerate. It was headquartered at the 30 Hudson Yards complex in New York City, United States. It was originally established in 1972 by ...

merger was planned, as well as

Disney The Walt Disney Company, commonly known as Disney (), is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California. Disney was originally founded on October ...

's proposed acquisition of most

21st Century Fox Twenty-First Century Fox, Inc., doing business as 21st Century Fox (21CF), was an American multinational mass media corporation that was based in Midtown Manhattan, New York City. It was one of the two companies formed on June 28, 2013, f ...

assets and heavy competition from companies such as

Netflix Netflix, Inc. is an American subscription video on-demand over-the-top streaming service and production company based in Los Gatos, California. Founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California, it offers a fil ...

and

Amazon Amazon most often refers to: * Amazons, a tribe of female warriors in Greek mythology * Amazon rainforest, a rainforest covering most of the Amazon basin * Amazon River, in South America * Amazon (company), an American multinational technology c ...

. Shortly afterward, it was reported that the combined company could be a suitor for acquiring the film studio

Lionsgate Lions Gate Entertainment Corporation, doing business as Lionsgate, is a Canadian-American entertainment company. It was formed by Frank Giustra on July 10, 1997, domiciled in Vancouver, British Columbia, Canada and is currently headquartered ...

. Viacom and Lionsgate were both interested in acquiring

The Weinstein Company The Weinstein Company (usually credited or abbreviated as TWC) was an American independent film studio, founded in New York City by Bob and Harvey Weinstein in March 2005. TWC was one of the largest mini-major film studios in North America prior ...

in the wake of sexual abuse allegations against Harvey Weinstein. Viacom was listed as one of 22 potential buyers that were interested in acquiring TWC. They lost the bid, and on March 1, 2018, it was announced that

Maria Contreras-Sweet Maria Contreras-Sweet (born 1955) is an American businesswoman and former government official who served as the 24th Administrator of the Small Business Administration from 2014 to 2017. She was the executive chairwoman and founder of ProAmérica ...

would acquire all of TWC's assets for $500 million. On March 30, 2018, CBS made an all-stock offer slightly below Viacom's market value and insisted that its existing leadership, including long-time chairman and CEO Les Moonves, oversee the re-combined company. Viacom rejected the offer as being too low, requesting an increase of $2.8 billion, and requesting that Bob Bakish be maintained as president and COO under Moonves. It was reported that these conflicts had resulted from Shari Redstone seeking more control over CBS and its leadership. Eventually, on May 14, 2018, CBS Corporation sued its and Viacom's parent company National Amusements and accused Redstone of abusing her voting power in the company and forcing a merger that was not supported by CBS or Viacom. CBS also accused Redstone of discouraging

Verizon Communications Verizon Communications Inc., commonly known as Verizon, is an American multinational telecommunications conglomerate and a corporate component of the Dow Jones Industrial Average. The company is headquartered at 1095 Avenue of the Americas i ...

from acquiring it, which could have been beneficial to its shareholders. On May 23, 2018, Les Moonves stated that he considered the Viacom channels to be an "albatross," and while he favored more content for

CBS All Access Paramount+ is an American Video on demand#Subscription models, subscription video on-demand service owned by Paramount Global. The service's content is drawn primarily from the libraries of CBS Media Ventures (including CBS Studios), Paramount Me ...

, he believed that there were better deals for CBS than the Viacom deal, such as

Metro-Goldwyn-Mayer Metro-Goldwyn-Mayer Studios Inc., also known as Metro-Goldwyn-Mayer Pictures and abbreviated as MGM, is an American film, television production, distribution and media company owned by amazon (company), Amazon through MGM Holdings, founded o ...

, Lionsgate or

Sony Pictures Sony Pictures Entertainment Inc. (commonly known as Sony Pictures or SPE, and formerly known as Columbia Pictures Entertainment, Inc.) is an American diversified multinational mass media and entertainment studio Conglomerate (company), conglom ...

. Moonves also considered Bakish a threat because he did not want an ally of Redstone as a board member of the combined company. On September 9, 2018, Moonves left CBS after being accused by twelve women of sexual assault. National Amusements agreed to not propose a CBS-Viacom merger for at least two years after the date of the settlement. On May 30, 2019, CNBC reported that CBS and Viacom would explore merger discussions in mid-June 2019. CBS's board of directors was revamped with people who were open to a merger. The re-merger was made possible with the resignation of Moonves (who opposed all attempts for a Viacom merger). The talks had started following rumors of CBS acquiring

Starz Starz (stylized as STARZ since 2016; pronounced "stars") is an American premium cable and satellite television network owned by Lions Gate Entertainment, and is the flagship property of parent subsidiary Starz Inc. Programming on Starz consist ...

from Lionsgate. Reports say that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies. CBS announced to acquire Viacom as part of the re-merger deal for up to $15.4 billion. On August 2, 2019, it was reported that CBS and Viacom agreed to merge back into one entity. Both companies came to an agreement on the management team for its merger with Bakish serving as CEO of the combined company and president and acting CEO of CBS, as

Joseph Ianniello Joseph R. Ianniello is CEO and Chairman of Argus Capital Corp., a special purpose acquisition company. He has previously been the Chairman of CBS Entertainment Group unit of ViacomCBS from December 4, 2019 until March 23, 2020 and President and a ...

oversees the CBS-branded assets. However, on August 7, 2019, both CBS and Viacom delayed their merger announcement as the two companies reported the quarterly earnings, though the talks about the re-merger continues. On August 13, 2019, CBS and Viacom officially announced their merger; CBS would purchase Viacom and change its name to

ViacomCBS Paramount Global (doing business as Paramount) is an American multinational mass media and entertainment conglomerate owned and operated by National Amusements (79.4%) and headquartered at One Astor Plaza in Midtown Manhattan, New York. I ...

. Bakish would become president and CEO of ViacomCBS with Ianniello serving as chairman and CEO of CBS, where he would oversee the CBS-branded assets. Shari Redstone would also serve as chairwoman of the new company. On October 29, 2019, National Amusements approved the re-merger deal and expected to close the deal in early December with the recombined company trading its shares on Nasdaq under the symbols "VIAC" and "VIACA". On December 4, the deal was completed.

Copyright complaints against YouTube

In February 2007, Viacom sent upwards of 100,000

Digital Millennium Copyright Act The Digital Millennium Copyright Act (DMCA) is a 1998 United States copyright law that implements two 1996 treaties of the World Intellectual Property Organization (WIPO). It criminalizes production and dissemination of technology, devices, or s ...

takedown notices to the video-sharing site

. Of the 100,000 notices, approximately 60–70 non-infringing videos were removed under the auspices of copyright infringement.Media Companies Blast YouTube for Anti-Piracy Policy
. Foxnews.com (February 19, 2007). Retrieved July 13, 2011. On March 13, 2007, Viacom filed a US$1 billion legal claim (''

Viacom International Inc. v. YouTube, Inc. ''Viacom International, Inc. v. YouTube, Inc.'', 676 F.3d 19 (2nd Cir., 2012), was a United States Court of Appeals for the Second Circuit decision regarding liability for copyright infringement committed by the users of an online video hosting ...

'') against

Google Google LLC () is an American multinational technology company focusing on search engine technology, online advertising, cloud computing, computer software, quantum computing, e-commerce, artificial intelligence, and consumer electronics. ...

and YouTube alleging massive

copyright infringement Copyright infringement (at times referred to as piracy) is the use of works protected by copyright without permission for a usage where such permission is required, thereby infringing certain exclusive rights granted to the copyright holder, s ...

, alleging that users frequently uploaded copyrighted material to YouTube—enough to cause a hit in revenue for Viacom and a gain in advertisement revenue for YouTube. The complaint contended that almost 160,000 unauthorized clips of Viacom's programming were made available on YouTube and that these clips had collectively been viewed more than 1.5 billion times. In July 2008, the case generated controversy when District Judge

Louis Stanton Louis Lee Stanton (born October 1, 1927) is a senior United States district judge of the United States District Court for the Southern District of New York. Education and career Born on October 1, 1927, in New York City, New York, Stanton was a ...

ruled that YouTube was required to hand over data detailing the viewing habits of every user who had ever watched videos on the site. Judge Stanton rejected Viacom's request for YouTube to hand over the

source code In computing, source code, or simply code, is any collection of code, with or without comments, written using a human-readable programming language, usually as plain text. The source code of a program is specially designed to facilitate the wo ...

of its

search engine A search engine is a software system designed to carry out web searches. They search the World Wide Web in a systematic way for particular information specified in a textual web search query. The search results are generally presented in a ...

system, saying that the code was a

trade secret Trade secrets are a type of intellectual property that includes formulas, practices, processes, designs, instruments, patterns, or compilations of information that have inherent economic value because they are not generally known or readily asc ...

. Google and Viacom later agreed to allow Google to anonymize all the data before handing it over to Viacom. On June 23, 2010, Judge Stanton ruled in Google's favor in a motion for

summary judgment In law, a summary judgment (also judgment as a matter of law or summary disposition) is a judgment entered by a court A court is any person or institution, often as a government institution, with the authority to adjudicate legal disputes ...

, holding that Google was protected by provisions of the

, notwithstanding evidence of intentional copyright infringement. Viacom announced its intention to appeal the ruling. On April 5, 2012, the ruling was overturned by the

United States Court of Appeals for the Second Circuit The United States Court of Appeals for the Second Circuit (in case citations, 2d Cir.) is one of the thirteen United States Courts of Appeals. Its territory comprises the states of Connecticut, New York and Vermont. The court has appellate juri ...

. Writing for a two-judge panel (because Judge

Roger Miner Roger Jeffrey Miner (April 14, 1934 – February 18, 2012) was a United States circuit judge of the United States Court of Appeals for the Second Circuit and a United States district judge of the United States District Court for the Northern Distr ...

had died while the trial was pending) of the

Second Circuit The United States Court of Appeals for the Second Circuit (in case citations, 2d Cir.) is one of the thirteen United States Courts of Appeals. Its territory comprises the states of Connecticut, New York and Vermont. The court has appellate juris ...

, Judge

José A. Cabranes José Alberto Cabranes (born December 22, 1940) is an American lawyer who serves as a Senior United States circuit judge of the United States Court of Appeals for the Second Circuit and a former presiding judge of the United States Foreign Intell ...

concluded that "a reasonable jury could find that YouTube had actual knowledge or awareness of specific infringing activity on its website".

Eric Goldman Eric Goldman (born April 15, 1968) is a law professor at Santa Clara University School of Law. He also co-directs the law school's High Tech Law Institute. and co-supervises the law school's Privacy Law Certificate. Career overview Goldman is ...

, a professor at the

Santa Clara University School of Law The Santa Clara University School of Law (Santa Clara Law) is the law school of Santa Clara University, a Jesuit university in Santa Clara, California, United States, in the Silicon Valley region. The School of Law was founded in 1911. The Jesuit ...

, expressed concern that the ruling would negatively affect

startup A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses that never intend t ...

s, by making them "more hair-trigger on taking down news or content, for fear that failure to do so will be held against them by content providers". On April 18, 2013, Judge Stanton issued another order granting summary judgment in favor of YouTube. An appeal was begun, but the week before the parties were to appear in the 2nd U.S. Circuit Court of Appeals, a settlement was announced, and it was reported that no money changed hands. Viacom and their sister company B_Viacom have since taken to removing videos or blocked countries themselves.

Corporate governance

The previous board of directors of Viacom were George S. Abrams, David Andelman, Joseph Califano, Jr.,

William Cohen William Sebastian Cohen (born August 28, 1940) is an American lawyer, author, and politician from the U.S. state of Maine. A Republican, Cohen served as both a member of the United States House of Representatives (1973–1979) and Senate (1979� ...

Philippe Dauman Philippe Pierre Dauman (born March 1, 1954) is an American businessman who served as President, CEO and Chairman of Viacom from September 2006 until May 20, 2016. Dauman was a longtime associate of the company's chairman Sumner Redstone. Dauman ...

Alan C. Greenberg Alan Courtney "Ace" Greenberg (September 3, 1927 – July 25, 2014) was a chairman of the executive committee of Bear Stearns, The Bear Stearns Companies, Inc. Early life and education Greenberg was born in Wichita, Kansas but raised in Oklahom ...

, Charles Phillips,

, Frederic Salerno, William Schwartz, and

Robert D. Walter Robert D. Walter (born 1944) is an American businessman best known for his role in the creation of Cardinal Health. Early life Walter graduated from St. Charles Preparatory School in Columbus, Ohio, and received a B.A. degree from Ohio University ...

. Following the Viacom/CBS split, the Viacom board consisted of George S. Abrams, Philippe Dauman,

Ellen V. Futter Ellen Victoria Futter (born September 21, 1949) is president of the American Museum of Natural History. She previously served as president of Barnard College for 13 years. Biography Futter was born in New York City and attended high school in Po ...

Robert Kraft Robert Kenneth Kraft (born June 5, 1941) is an American billionaire businessman. He is the chairman and chief executive officer (CEO) of the Kraft Group, a diversified holding company with assets in paper and packaging, sports and entertainment, ...

, 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,

Blythe McGarvie Blythe J. McGarvie is a corporate director. She has been President and CEO of Leadership for International Finance, LLC, (LIF) and was a senior lecturer at Harvard Business School. Education McGarvie earned an MBA degree from Kellogg Graduate Scho ...

, Bob Bakish, Charles Phillips, Shari E. Redstone,

, Frederic Salerno, and William Schwartz.

References

External links

*
Ketupa.net – Viacom

Viacom information
by

Hoover's D&B Hoovers was founded by Gary Hoover and Patrick Spain in 1990Solomon, Steve.The Dynamic Duo" '' Inc.''. October 15, 1997. Retrieved on April 7, 2014. as an American business research company that provided information on companies and industr ...

Viacom profile
by

Yahoo! Yahoo! (, styled yahoo''!'' in its logo) is an American web services provider. It is headquartered in Sunnyvale, California and operated by the namesake company Yahoo Inc., which is 90% owned by investment funds managed by Apollo Global Man ...

Split documentation
–

SEC filing The SEC filing is a financial statement or other formal document submitted to the U.S. Securities and Exchange Commission (SEC). Public companies, certain insiders, and broker-dealers are required to make regular SEC filings. Investors and financi ...

Form S-4 Form S-4 is a form filed with the U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash o ...

from October 5, 2005, describing the split. {{DEFAULTSORT:Viacom (2005-2019) Predecessors of Paramount Global 2005 establishments in New York City 2019 disestablishments in New York (state) American companies established in 2005 American companies disestablished in 2019 Companies based in Manhattan Conglomerate companies established in 2005 Conglomerate companies disestablished in 2019 Mass media companies established in 2005 Mass media companies disestablished in 2019 Defunct mass media companies of the United States Multinational companies based in New York City Companies formerly listed on the Nasdaq Companies formerly listed on the New York Stock Exchange Conglomerate companies of the United States Defunct companies based in New York City Mass media companies of the United States Mass media companies based in New York City Multinational companies headquartered in the United States Corporate spin-offs Re-established companies 2019 mergers and acquisitions

History

Early years

2000s

2010s

Re-merger deal with CBS

Copyright complaints against YouTube

Corporate governance

See also

References

External links