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The original Viacom owned CBS for several years, until the company decided to split in the mid-00s due to stock market strategy (and as a solution to an internal power struggle between Les Moonves and whoever the guy in charge of MTV was at the time, over who would replace Sumner Redstone when he retired).
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The original Viacom owned CBS for several years, until the company decided to split in the mid-00s due to stock market strategy (and as a solution to an internal power struggle between Les Moonves and whoever the guy in charge of MTV was at the time, over who would replace Sumner Redstone when he retired).
The original Viacom took the name "CBS Corporation" after the split, with the rest of the company (MTV, BET, Paramount Pictures, etc) taking the name "Viacom" as a completely new entity. Now, with this merger, they're putting the band back together, the way it was 15 years ago.
Doug FieldsTampa, FL
From: tvor...@googlegroups.com <tvor...@googlegroups.com> on behalf of Doug Eastick <eas...@mcd.on.ca>
Sent: Wednesday, August 14, 2019 6:58 AM
To: tvor...@googlegroups.com <tvor...@googlegroups.com>
Subject: Re: [TV orNotTV] CBS, Viacom together again
Why did I think that CBS had been owned by Viacom for years already? Were they already "close" on many fronts?
On Tue., Aug. 13, 2019, 2:28 p.m. Kevin M., <drunkba...@gmail.com> wrote:
Here is the formal announcement
On Tue, Aug 13, 2019 at 10:13 AM 'Bob Jersey' via TVorNotTV <tvor...@googlegroups.com> wrote:
All that's left is the formal announcement, which Deadline says will come this afternoon (8/13)... both firms' stock prices recovered following big plunges Monday...
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To be exact, all three networks had to divest their syndication and cable holdings as part of the Prime Access Rule. CBS and ABC spun off their holdings as Viacom and Worldvision Enterprises, respectively. Since most of NBC's filmed programs were produced by MCA/Universal, their smaller library was sold to National Telefilm Associates. In the 80s, Worldvision was acquired by Taft Broadcasting while NTA changed its name to Republic Pictures, reflecting the ownership of that B picture studio's library. When Taft went under (after changing its name to Great American), Aaron Spelling acquired Worldvision and then sold out his holdings, including his shows, to Blockbuster, who then acquired Republic. Blockbuster was then acquired by Viacom before the merger of Viacom and CBS, which is why essentially CBS ended up owning the pre-1971 program libraries of all three networks.At the time of the breakup, CBS was considered the weaker of the two companies, with just an OTA network, one premium channel, radio, billboards and Simon & Schuster, while Viacom kept all those famous cable channels and the hottest brand going Blockbuster. Over the years, that did not hold up and CBS became the stronger company (with the radio stations and billboards sold off).