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'''ViacomCBS Inc.''' is an American diversified multinational [[media conglomerate|mass media conglomerate]] and formed through the [[2019 merger of CBS and Viacom|merger]] of the [[CBS Corporation|second incarnation of CBS Corporation]] and the [[Viacom (2005–2019)|second incarnation of Viacom]] on December 4, 2019,<ref>{{Cite web | url=https://www.thewrap.com/cbs-viacom-merger-close-date-dec-4/ |title = CBS and Viacom Reveal December Merger Date – Mark Your Calendars|date = November 25, 2019}}</ref> which were split from the [[Viacom (1952–2006)|first incarnation of Viacom]] in 2006.
'''ViacomCBS Inc.''' is an American diversified multinational [[media conglomerate|mass media conglomerate]] formed through the [[2019 merger of CBS and Viacom|merger]] of the [[CBS Corporation|second incarnation of CBS Corporation]] and the [[Viacom (2005–2019)|second incarnation of Viacom]] on December 4, 2019,<ref>{{Cite web | url=https://www.thewrap.com/cbs-viacom-merger-close-date-dec-4/ |title = CBS and Viacom Reveal December Merger Date – Mark Your Calendars|date = November 25, 2019}}</ref> which were split from the [[Viacom (1952–2006)|first incarnation of Viacom]] in 2006. Headquartered at [[One Astor Plaza]] in [[Midtown Manhattan]], New York City, the company operates over 170 networks and reaches approximately 700 million subscribers in approximately 160 countries, as of 2020.{{Citation needed|date=May 2020}}


The company's main assets include the [[Paramount Pictures]] film and [[Paramount Television Studios|television]] studio, [[CBS Entertainment Group]] (consisting of the [[CBS]] television network, [[CBS Television Stations|television stations]], and other CBS-branded assets), [[ViacomCBS Domestic Media Networks|domestic networks]] (consisting of U.S.-based basic and premium-tier cable television networks including [[MTV]], [[Nickelodeon]], [[BET]], [[Comedy Central]], and [[Showtime (TV network)|Showtime]]), [[ViacomCBS Networks International|international networks]] (consisting of international versions of domestic ViacomCBS networks as well as region-specific networks), the [[Paramount+]] subscription streaming service, the [[Pluto TV]] ad-supported television streaming service, and the [[Simon & Schuster]] book publisher.
The company's main assets include the [[Paramount Pictures]] film and [[Paramount Television Studios|television]] studio, the [[CBS Entertainment Group]] (consisting of the [[CBS]] television network, [[CBS Television Stations|television stations]], and other CBS-branded assets), [[ViacomCBS Domestic Media Networks|domestic networks]] (consisting of U.S.-based basic and premium-tier cable television networks including [[MTV]], [[Nickelodeon]], [[BET]], [[Comedy Central]], and [[Showtime (TV network)|Showtime]]), [[ViacomCBS Networks International|international networks]] (consisting of international versions of domestic ViacomCBS networks as well as region-specific networks), the [[Paramount+]] subscription streaming service, the [[Pluto TV]] ad-supported television streaming service, and the [[Simon & Schuster]] book publisher.

Headquartered at [[One Astor Plaza]] in [[Midtown Manhattan]], New York City, the company operates over 170 networks and reaches approximately 700 million subscribers in approximately 160 countries, as of 2020.{{Citation needed|date=May 2020}}


== Background ==
== Background ==
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[[File:CBS Corporation logo.svg|200px|left|thumb|CBS Corporation logo]]
[[File:CBS Corporation logo.svg|200px|left|thumb|CBS Corporation logo]]
[[File:Viacom logo.svg|left|thumb|spun-off Viacom logo]]
[[File:Viacom logo.svg|left|thumb|spun-off Viacom logo]]
In 1952, [[CBS]] formed '''CBS Television Film Sales''', a division which handled syndication rights for CBS's library of television series. This division was renamed '''CBS Films''' in 1958, and again renamed '''CBS Enterprises Inc.''' in January 1968, and finally renamed '''[[Viacom (1952–2006)|Viacom]]''' in 1970. In 1971, this syndication division was [[Corporate spin-off|spun off]] amid new [[Federal Communications Commission|FCC]] rules forbidding [[television network]]s from [[Financial Interest and Syndication Rules|owning syndication companies]]. (The rules were abolished completely in 1993.)<ref>{{cite book|title=The Business of Media: Corporate Media and the Public Interest|author=D. Croteau|author2=W. Hoynes|publisher=Pine Forge Press|location=Thousand Oaks, California|pages=100–101|year=2006}}</ref> In 1985, Viacom purchased [[ViacomCBS Domestic Media Networks|MTV Networks]] & [[Showtime Networks|Showtime/The Movie Channel Inc.]] from [[WarnerMedia|Warner Communications]] and [[American Express]].<ref>{{Cite news|last=Fabrikant|first=Geraldine|date=1986-09-17|title=VIACOM CHIEF LEADS GROUP'S BUYOUT BID (Published 1986)|language=en-US|work=The New York Times|url=https://www.nytimes.com/1986/09/17/business/viacom-chief-leads-group-s-buyout-bid.html|url-status=live|access-date=2021-01-23|issn=0362-4331|quote=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.}}</ref> In 1986, Viacom was acquired by its present owner, theater operator company [[National Amusements]]. In 1994, Viacom acquired [[Paramount Communications]]. In 1999, Viacom made its biggest acquisition to date by announcing plans to merge with its former parent CBS Corporation (the renamed [[Westinghouse Electric Corporation]], which had merged with CBS in 1995). The merger was completed in 2000, resulting in CBS reuniting with its former syndication division. On January 3, 2006, Viacom was split into two companies: [[CBS Corporation]], the former's corporate successor and the [[Viacom (2005–2019)|spun-off Viacom]] company.{{Citation needed|date=May 2020}}
In 1952, [[CBS]] formed '''CBS Television Film Sales''', a division which handled syndication rights for CBS's library of network owned television series. This division was renamed '''CBS Films''' in 1958, and again renamed '''CBS Enterprises Inc.''' in January 1968, and finally renamed '''[[Viacom (1952–2006)|Viacom]]''' in 1970. In 1971, this syndication division was [[Corporate spin-off|spun off]] amid new [[Federal Communications Commission|FCC]] rules forbidding [[television network]]s from [[Financial Interest and Syndication Rules|owning syndication companies]]. (The rules were abolished completely in 1993.)<ref>{{cite book|title=The Business of Media: Corporate Media and the Public Interest|author=D. Croteau|author2=W. Hoynes|publisher=Pine Forge Press|location=Thousand Oaks, California|pages=100–101|year=2006}}</ref> In 1985, Viacom purchased [[ViacomCBS Domestic Media Networks|MTV Networks]] & [[Showtime Networks|Showtime/The Movie Channel Inc.]] from [[WarnerMedia|Warner Communications]] and [[American Express]].<ref>{{Cite news|last=Fabrikant|first=Geraldine|date=1986-09-17|title=VIACOM CHIEF LEADS GROUP'S BUYOUT BID (Published 1986)|language=en-US|work=The New York Times|url=https://www.nytimes.com/1986/09/17/business/viacom-chief-leads-group-s-buyout-bid.html|url-status=live|access-date=2021-01-23|issn=0362-4331|quote=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.}}</ref> In 1986, Viacom was acquired by its present owner, theater operator company [[National Amusements]]. In 1994, Viacom acquired [[Paramount Communications]]. In 1999, Viacom made its biggest acquisition to date by announcing plans to merge with its former parent CBS Corporation (the renamed [[Westinghouse Electric Corporation]], which had merged with CBS in 1995). The merger was completed in 2000, resulting in CBS reuniting with its former syndication division. On January 3, 2006, Viacom was split into two companies: [[CBS Corporation]], the former's corporate successor and the [[Viacom (2005–2019)|spun-off Viacom]] company.{{Citation needed|date=May 2020}}


== History ==
== History ==
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On September 29, 2016, [[National Amusements]], the parent company of CBS Corporation and Viacom, wrote to Viacom and CBS encouraging the two companies to merge back into one company.<ref>{{cite web|url=https://www.hollywoodreporter.com/news/national-amusements-calls-viacom-cbs-933705|title=National Amusements Proposes Viacom, CBS Reunion, Cites "Substantial Synergies"|last=Szalai|first=George|date=September 29, 2016|work=The Hollywood Reporter|access-date=October 13, 2016}}</ref> On December 12, the deal was called off.<ref>{{cite web|url=https://www.cnbc.com/amp/2016/12/12/shari-redstone-withdraws-cbs-viacom-merger-proposal.html|title=Shari Redstone withdraws CBS-Viacom merger proposal|date=December 12, 2016|publisher=CNBC|access-date=December 17, 2016}}</ref>
On September 29, 2016, [[National Amusements]], the parent company of CBS Corporation and Viacom, wrote to Viacom and CBS encouraging the two companies to merge back into one company.<ref>{{cite web|url=https://www.hollywoodreporter.com/news/national-amusements-calls-viacom-cbs-933705|title=National Amusements Proposes Viacom, CBS Reunion, Cites "Substantial Synergies"|last=Szalai|first=George|date=September 29, 2016|work=The Hollywood Reporter|access-date=October 13, 2016}}</ref> On December 12, the deal was called off.<ref>{{cite web|url=https://www.cnbc.com/amp/2016/12/12/shari-redstone-withdraws-cbs-viacom-merger-proposal.html|title=Shari Redstone withdraws CBS-Viacom merger proposal|date=December 12, 2016|publisher=CNBC|access-date=December 17, 2016}}</ref>


On January 12, 2018, [[CNBC]] reported that Viacom had re-entered talks to merge back into CBS Corporation, after the merger of [[AT&T]]-[[WarnerMedia|Time Warner]] and [[The Walt Disney Company|Disney]]'s [[Acquisition of 21st Century Fox by Disney|proposed acquisition]] of most of the [[21st Century Fox]]'s assets were announced. Viacom and CBS also faced heavy competition from companies such as [[Netflix]] and [[Amazon (company)|Amazon]].<ref>{{Cite web|url=https://www.cnbc.com/2018/01/12/viacom-shares-jump-9-percent-percent-on-wrap-report-that-its-looking-to-merge-with-cbs.html|title=Viacom, CBS shares surge after report Shari Redstone pursuing merge of companies|last=Wang|first=Christine|date=January 12, 2018|publisher=CNBC|access-date=January 12, 2018}}</ref> Shortly afterward, it was reported that the combined company could be a suitor for acquiring the film studio [[Lionsgate Films|Lionsgate]].<ref>{{cite web|url=https://deadline.com/2018/01/lionsgate-talks-amazon-verizon-cbs-viacom-1202244991/|title=Lionsgate Ripe For Takeover As Amazon, Verizon and CBS-Viacom Emerge As Potential Suitors|last=Busch|first=Anita|last2=Chmielewski|first2=Anita|date=January 17, 2019|work=Deadline Hollywood|access-date=January 19, 2018}}</ref> Viacom and Lionsgate were both interested in acquiring [[The Weinstein Company]].<ref name="thewrap.com">{{cite web|url=https://www.thewrap.com/weinstein-co-talking-22-buyers-300-million-expected-price-bob-weinstein-must-exit|title=Weinstein Co Talking to 22 Buyers, $300 Million Expected Price, Bob Weinstein Must Exit|date=October 26, 2017|work=The Wrap|access-date=October 26, 2017}}</ref> Following the [[Weinstein effect]], Viacom was listed as one of 22 potential buyers that were interested in acquiring TWC.<ref name="thewrap.com" /> They lost the bid, and on March 1, 2018, it was announced that [[Maria Contreras-Sweet]] would acquire all of TWC's assets for $500&nbsp;million.<ref name="latimes20180301">{{cite web|url=https://www.latimes.com/business/hollywood/la-fi-ct-weinstein-company-sale-20180301-story.html|title=Former Obama administration official has reached a deal to buy Weinstein Co. assets|author=Ryan Faughnder|date=March 1, 2018|work=[[Los Angeles Times]]|access-date=March 2, 2018}}</ref><ref name="deadline1202307564">{{cite web|url=https://deadline.com/2018/03/weinstein-company-deal-board-of-directors-maria-contreras-sweet-harvey-weinstein-1202307564/|title=TWC Board, New York AG Confirm Maria Contreras-Sweet Group Has Acquired Weinstein Company Assets|last=Chmielewski|first=Dawn|date=March 2, 2018|work=Deadline Hollywood|access-date=March 2, 2018}}</ref> Lantern Capital would later acquire the studio.
On January 12, 2018, [[CNBC]] reported that Viacom had re-entered talks to merge back into CBS Corporation, after the merger of [[AT&T]]-[[WarnerMedia|Time Warner]] and [[The Walt Disney Company|Disney]]'s [[Acquisition of 21st Century Fox by Disney|proposed acquisition]] of most of [[21st Century Fox]]'s assets were announced. Viacom and CBS also faced heavy competition from companies such as [[Netflix]] and [[Amazon (company)|Amazon]].<ref>{{Cite web|url=https://www.cnbc.com/2018/01/12/viacom-shares-jump-9-percent-percent-on-wrap-report-that-its-looking-to-merge-with-cbs.html|title=Viacom, CBS shares surge after report Shari Redstone pursuing merge of companies|last=Wang|first=Christine|date=January 12, 2018|publisher=CNBC|access-date=January 12, 2018}}</ref> Shortly afterward, it was reported that the combined company could be a suitor for acquiring the film studio [[Lionsgate Films|Lionsgate]].<ref>{{cite web|url=https://deadline.com/2018/01/lionsgate-talks-amazon-verizon-cbs-viacom-1202244991/|title=Lionsgate Ripe For Takeover As Amazon, Verizon and CBS-Viacom Emerge As Potential Suitors|last=Busch|first=Anita|last2=Chmielewski|first2=Anita|date=January 17, 2019|work=Deadline Hollywood|access-date=January 19, 2018}}</ref> Viacom and Lionsgate were both interested in acquiring [[The Weinstein Company]].<ref name="thewrap.com">{{cite web|url=https://www.thewrap.com/weinstein-co-talking-22-buyers-300-million-expected-price-bob-weinstein-must-exit|title=Weinstein Co Talking to 22 Buyers, $300 Million Expected Price, Bob Weinstein Must Exit|date=October 26, 2017|work=The Wrap|access-date=October 26, 2017}}</ref> Following the [[Weinstein effect]], Viacom was listed as one of 22 potential buyers that were interested in acquiring TWC.<ref name="thewrap.com" /> They lost the bid, and on March 1, 2018, it was announced that [[Maria Contreras-Sweet]] would acquire all of TWC's assets for $500&nbsp;million.<ref name="latimes20180301">{{cite web|url=https://www.latimes.com/business/hollywood/la-fi-ct-weinstein-company-sale-20180301-story.html|title=Former Obama administration official has reached a deal to buy Weinstein Co. assets|author=Ryan Faughnder|date=March 1, 2018|work=[[Los Angeles Times]]|access-date=March 2, 2018}}</ref><ref name="deadline1202307564">{{cite web|url=https://deadline.com/2018/03/weinstein-company-deal-board-of-directors-maria-contreras-sweet-harvey-weinstein-1202307564/|title=TWC Board, New York AG Confirm Maria Contreras-Sweet Group Has Acquired Weinstein Company Assets|last=Chmielewski|first=Dawn|date=March 2, 2018|work=Deadline Hollywood|access-date=March 2, 2018}}</ref> Lantern Capital would later acquire the studio.


On March 30, 2018, CBS made an all-stock offer slightly below Viacom's market value, insisting that its existing leadership, including long-time chairman and CEO [[Les Moonves]], oversee the re-combined company. Viacom rejected the offer as too low, requesting a $2.8&nbsp;billion increase and that [[Robert Bakish|Bob Bakish]] be maintained as president and COO under Moonves. These conflicts had resulted from [[Shari Redstone]] seeking more control over CBS and its leadership.<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/moonves-redstone-inside-poisonous-war-control-cbs-viacom-1101570|title=Moonves vs. Redstone: Inside the Poisonous War for Control of CBS and Viacom|work=The Hollywood Reporter|access-date=April 11, 2018}}</ref><ref>{{Cite news|url=https://variety.com/2018/biz/news/cbs-viacom-leslie-moonves-2-1202749787/|title=Could CBS-Viacom Strife Cause Leslie Moonves to Walk Away?|last=Littleton|first=Cynthia|date=April 11, 2018|work=Variety|access-date=April 11, 2018}}</ref>
On March 30, 2018, CBS made an all-stock offer slightly below Viacom's market value, insisting that its existing leadership, including long-time chairman and CEO [[Les Moonves]], oversee the re-combined company. Viacom rejected the offer as too low, requesting a $2.8&nbsp;billion increase and that [[Robert Bakish|Bob Bakish]] be maintained as president and COO under Moonves. These conflicts had resulted from [[Shari Redstone]] seeking more control over CBS and its leadership.<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/moonves-redstone-inside-poisonous-war-control-cbs-viacom-1101570|title=Moonves vs. Redstone: Inside the Poisonous War for Control of CBS and Viacom|work=The Hollywood Reporter|access-date=April 11, 2018}}</ref><ref>{{Cite news|url=https://variety.com/2018/biz/news/cbs-viacom-leslie-moonves-2-1202749787/|title=Could CBS-Viacom Strife Cause Leslie Moonves to Walk Away?|last=Littleton|first=Cynthia|date=April 11, 2018|work=Variety|access-date=April 11, 2018}}</ref>
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On May 30, 2019, CNBC reported that CBS Corporation and Viacom would explore merger discussions in mid-June 2019. CBS's board of directors was revamped with people who were open to merging; the re-merger was made possible with the resignation of Moonves, who had opposed all merger attempts. The talks had started following rumors of CBS acquiring [[Starz Inc.|Starz]] from Lionsgate.<ref>{{cite news|url=https://www.latimes.com/business/hollywood/la-fi-ct-cbs-viacom-merger-talks-20190530-story.html|title=CBS and Viacom merger negotiations expected to resume|last=James|first=Meg|date=May 30, 2019|work=Los Angeles Times|access-date=June 2, 2019}}</ref> Reports said that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies.<ref>{{Cite news|url=https://www.fiercevideo.com/video/cbs-viacom-want-remerger-deal-set-by-early-august-report|title=CBS, Viacom set early August deadline for remerger agreement – report|last=Munson|first=Ben|date=July 16, 2019|work=FierceVideo|access-date=July 20, 2019}}</ref><ref>{{Cite news|url=https://variety.com/2019/biz/news/cbs-viacom-boards-wrestle-with-post-merger-management-decisions-ending-coo-role-exclusive-1203273848/|title=CBS, Viacom Boards Wrestle With Post-Merger Management Decisions, Ending COO Role (EXCLUSIVE)|last=Littleton|first=Synthia|date=July 19, 2019|work=Variety|access-date=July 20, 2019}}</ref> CBS announced to acquire Viacom as part of the re-merger deal for up to $15.4&nbsp;billion.<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/how-a-merged-cbs-viacom-could-try-compete-hollywood-giants-1225453|title=How a Merged CBS-Viacom Could Try to Compete with Hollywood Giants|quote=CBS' plan to acquire Viacom for up to $15.4 billion could be announced Aug. 8, giving its controlling shareholder the ability to leverage IP like 'Star Trek' across film and TV to better compete with Disney, Netflix and the rest.|date=July 19, 2019|work=[[The Hollywood Reporter]]|access-date=August 7, 2019}}</ref>
On May 30, 2019, CNBC reported that CBS Corporation and Viacom would explore merger discussions in mid-June 2019. CBS's board of directors was revamped with people who were open to merging; the re-merger was made possible with the resignation of Moonves, who had opposed all merger attempts. The talks had started following rumors of CBS acquiring [[Starz Inc.|Starz]] from Lionsgate.<ref>{{cite news|url=https://www.latimes.com/business/hollywood/la-fi-ct-cbs-viacom-merger-talks-20190530-story.html|title=CBS and Viacom merger negotiations expected to resume|last=James|first=Meg|date=May 30, 2019|work=Los Angeles Times|access-date=June 2, 2019}}</ref> Reports said that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies.<ref>{{Cite news|url=https://www.fiercevideo.com/video/cbs-viacom-want-remerger-deal-set-by-early-august-report|title=CBS, Viacom set early August deadline for remerger agreement – report|last=Munson|first=Ben|date=July 16, 2019|work=FierceVideo|access-date=July 20, 2019}}</ref><ref>{{Cite news|url=https://variety.com/2019/biz/news/cbs-viacom-boards-wrestle-with-post-merger-management-decisions-ending-coo-role-exclusive-1203273848/|title=CBS, Viacom Boards Wrestle With Post-Merger Management Decisions, Ending COO Role (EXCLUSIVE)|last=Littleton|first=Synthia|date=July 19, 2019|work=Variety|access-date=July 20, 2019}}</ref> CBS announced to acquire Viacom as part of the re-merger deal for up to $15.4&nbsp;billion.<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/how-a-merged-cbs-viacom-could-try-compete-hollywood-giants-1225453|title=How a Merged CBS-Viacom Could Try to Compete with Hollywood Giants|quote=CBS' plan to acquire Viacom for up to $15.4 billion could be announced Aug. 8, giving its controlling shareholder the ability to leverage IP like 'Star Trek' across film and TV to better compete with Disney, Netflix and the rest.|date=July 19, 2019|work=[[The Hollywood Reporter]]|access-date=August 7, 2019}}</ref>


On August 2, 2019, it was reported that CBS and Viacom agreed to merge back into one entity which would be named ''CBSViacom''. Both companies came to an agreement on the management team for the merger, with Bob Bakish serving as CEO of the combined company with president and acting CEO of CBS, [[Joseph Ianniello]], overseeing CBS-branded assets.<ref>{{cite web|url=https://www.wsj.com/articles/cbs-viacom-reach-working-agreement-on-combined-company-s-leadership-team-11564774333|title=CBS, Viacom Reach Tentative Deal on Team to Lead Combined Company|work=[[The Wall Street Journal]]|url-access=subscription|access-date=August 3, 2019}}</ref> On August 7, 2019, CBS and Viacom separately reported their quarterly earnings as the talks about the re-merger continued.<ref>{{Cite web|url=https://www.broadcastingcable.com/news/cbs-viacom-deal-wont-make-deadline-report|title=CBS-Viacom Deal Won't Make Deadline|last=Lafayette|first=Jon|date=August 7, 2019|work=Broadcasting Cable}}</ref><ref>{{Cite web|url=https://www.cordcuttersnews.com/cbs-viacoms-merger-announcement-is-reportedly-delayed-as-talks-continue/|title=CBS & Viacom's Merger Announcement is Reportedly Delayed as Talks Continue|last=Bouma|first=Luke|date=August 7, 2019|work=Cord Cutters News}}</ref>
On August 2, 2019, it was reported that CBS and Viacom agreed to merge back into one entity, with both companies coming to an agreement on the management team for the merger. Bob Bakish would serve as CEO of the combined company with president and acting CEO of CBS, [[Joseph Ianniello]], overseeing CBS-branded assets.<ref>{{cite web|url=https://www.wsj.com/articles/cbs-viacom-reach-working-agreement-on-combined-company-s-leadership-team-11564774333|title=CBS, Viacom Reach Tentative Deal on Team to Lead Combined Company|work=[[The Wall Street Journal]]|url-access=subscription|access-date=August 3, 2019}}</ref> On August 7, 2019, CBS and Viacom separately reported their quarterly earnings as the talks about the re-merger continued.<ref>{{Cite web|url=https://www.broadcastingcable.com/news/cbs-viacom-deal-wont-make-deadline-report|title=CBS-Viacom Deal Won't Make Deadline|last=Lafayette|first=Jon|date=August 7, 2019|work=Broadcasting Cable}}</ref><ref>{{Cite web|url=https://www.cordcuttersnews.com/cbs-viacoms-merger-announcement-is-reportedly-delayed-as-talks-continue/|title=CBS & Viacom's Merger Announcement is Reportedly Delayed as Talks Continue|last=Bouma|first=Luke|date=August 7, 2019|work=Cord Cutters News}}</ref>


=== Operations ===
=== Operations ===
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On November 25, 2019, Viacom and CBS announced the merger would close on December 4 and begin trading on NASDAQ on next day.<ref>{{Cite web|url=https://www.businesswire.com/news/home/20191125005214/en/CBS-Corporation-Viacom-Announce-Expected-Closing-Date|title=CBS Corporation and Viacom Inc. Announce Expected Closing Date of Merger|date=November 25, 2019|website=businesswire.com|access-date=November 26, 2019}}</ref><ref>{{Cite web|url=https://www.thewrap.com/cbs-viacom-merger-close-date-dec-4/|title=CBS and Viacom Reveal December Merger Date – Mark Your Calendars|date=November 25, 2019}}</ref> On December 4, 2019, Bakish confirmed that the ViacomCBS merger had closed.<ref>{{cite web | url = https://www.hollywoodreporter.com/news/bob-bakishs-memo-viacomcbs-staff-merger-a-historic-moment-1259584 | title = Bob Bakish's Memo to ViacomCBS Staff: Merger "A Historic Moment" | work = [[The Hollywood Reporter]] | date = December 4, 2019 | access-date = December 4, 2019| first = Alex | last = Weprin}}</ref>
On November 25, 2019, Viacom and CBS announced the merger would close on December 4 and begin trading on NASDAQ on next day.<ref>{{Cite web|url=https://www.businesswire.com/news/home/20191125005214/en/CBS-Corporation-Viacom-Announce-Expected-Closing-Date|title=CBS Corporation and Viacom Inc. Announce Expected Closing Date of Merger|date=November 25, 2019|website=businesswire.com|access-date=November 26, 2019}}</ref><ref>{{Cite web|url=https://www.thewrap.com/cbs-viacom-merger-close-date-dec-4/|title=CBS and Viacom Reveal December Merger Date – Mark Your Calendars|date=November 25, 2019}}</ref> On December 4, 2019, Bakish confirmed that the ViacomCBS merger had closed.<ref>{{cite web | url = https://www.hollywoodreporter.com/news/bob-bakishs-memo-viacomcbs-staff-merger-a-historic-moment-1259584 | title = Bob Bakish's Memo to ViacomCBS Staff: Merger "A Historic Moment" | work = [[The Hollywood Reporter]] | date = December 4, 2019 | access-date = December 4, 2019| first = Alex | last = Weprin}}</ref>


On December 10, 2019, Bakish announced that ViacomCBS would look to divest [[CBS Building|Black Rock]], the building that held CBS's headquarters since 1964. He stated, "Black Rock is not an asset we need to own and we believe that money would be put to better use elsewhere."<ref>{{cite news |last1=Weprin |first1=Alex |title=CBS' Historic New York Headquarters to Be Sold |url=https://www.hollywoodreporter.com/news/cbs-black-rock-new-york-headquarters-be-sold-1260942 |access-date=December 10, 2019 |work=The Hollywood Reporter }}</ref> On December 20, 2019, ViacomCBS agreed to acquire a 49% minority stake in film studio [[Miramax]] from [[beIN Media Group]] for $379 million. As part of the purchase, [[Paramount Pictures]] reached a long-term deal for exclusive distribution rights to its library, and [[First-look deal|first-look]] agreements to co-develop new film and television projects based on Miramax-owned properties.<ref>{{Cite web|url=https://www.hollywoodreporter.com/news/viacomcbs-acquire-49-percent-stake-miramax-375-million-1252722|title=ViacomCBS to acquire 49 percent stake in Miramax for $375&nbsp;million|last=Szalai|first=Georg|work=The Hollywood Reporter|date= December 20, 2019|access-date=December 20, 2019}}</ref>
On December 10, 2019, days after the merger, Bakish announced that ViacomCBS would look to divest [[CBS Building|Black Rock]], the building that held CBS's headquarters since 1964. He stated, "Black Rock is not an asset we need to own and we believe that money would be put to better use elsewhere."<ref>{{cite news |last1=Weprin |first1=Alex |title=CBS' Historic New York Headquarters to Be Sold |url=https://www.hollywoodreporter.com/news/cbs-black-rock-new-york-headquarters-be-sold-1260942 |access-date=December 10, 2019 |work=The Hollywood Reporter }}</ref> On December 20, 2019, ViacomCBS agreed to acquire a 49% minority stake in film studio [[Miramax]] from [[beIN Media Group]] for $379 million. As part of the purchase, [[Paramount Pictures]] reached a long-term deal for exclusive distribution rights to its library, and [[First-look deal|first-look]] agreements to co-develop new film and television projects based on Miramax-owned properties.<ref>{{Cite web|url=https://www.hollywoodreporter.com/news/viacomcbs-acquire-49-percent-stake-miramax-375-million-1252722|title=ViacomCBS to acquire 49 percent stake in Miramax for $375&nbsp;million|last=Szalai|first=Georg|work=The Hollywood Reporter|date= December 20, 2019|access-date=December 20, 2019}}</ref>


On March 2, 2020, executive vice president Dana McClintock announced that he would depart the company after 27 years in CBS Communications.<ref>{{Cite web|last=Patten|first=Dominic|date=2020-03-02|title=CBS Communications Chief Dana McClintock To Exit This Summer After 27 Years At Company|url=https://deadline.com/2020/03/cbs-dana-mcclintock-exit-joe-ianniello-viacomcbs-merger-1202872075/|access-date=2020-03-03|website=Deadline|language=en}}</ref> On March 4, the company announced plans to potentially sell its [[Simon & Schuster]] publishing unit, with Bakish arguing that it lacked a "significant connection for our broader business.”<ref>{{Cite web|last=Baysinger|first=Tim|date=2020-03-04|title=ViacomCBS to Sell Publisher Simon and Schuster|url=https://www.thewrap.com/viacomcbs-to-sell-publisher-simon-and-schuster/|access-date=2020-07-14|website=TheWrap|language=en-US}}</ref>
On March 2, 2020, executive vice president Dana McClintock announced that he would depart the company after 27 years in CBS Communications.<ref>{{Cite web|last=Patten|first=Dominic|date=2020-03-02|title=CBS Communications Chief Dana McClintock To Exit This Summer After 27 Years At Company|url=https://deadline.com/2020/03/cbs-dana-mcclintock-exit-joe-ianniello-viacomcbs-merger-1202872075/|access-date=2020-03-03|website=Deadline|language=en}}</ref> On March 4, the company announced plans to potentially sell its [[Simon & Schuster]] publishing unit, with Bakish arguing that it lacked a "significant connection for our broader business.”<ref>{{Cite web|last=Baysinger|first=Tim|date=2020-03-04|title=ViacomCBS to Sell Publisher Simon and Schuster|url=https://www.thewrap.com/viacomcbs-to-sell-publisher-simon-and-schuster/|access-date=2020-07-14|website=TheWrap|language=en-US}}</ref>
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On June 19, 2020, Jaime Ondarza, formerly the senior vice president of [[Turner Broadcasting]] South Europe and Africa, became the new head of ViacomCBS Networks International for France, Spain, Italy, the Middle East, Greece and Turkey.<ref>{{Cite web|date=2020-06-19|title=ViacomCBS hires former Turner exec Jaime Ondarza for Europe role|url=https://tbivision.com/2020/06/19/vcni-hires-jaime-ondarza-to-head-new-territory/|access-date=2020-06-24|website=TBI Vision|language=en-US}}</ref>
On June 19, 2020, Jaime Ondarza, formerly the senior vice president of [[Turner Broadcasting]] South Europe and Africa, became the new head of ViacomCBS Networks International for France, Spain, Italy, the Middle East, Greece and Turkey.<ref>{{Cite web|date=2020-06-19|title=ViacomCBS hires former Turner exec Jaime Ondarza for Europe role|url=https://tbivision.com/2020/06/19/vcni-hires-jaime-ondarza-to-head-new-territory/|access-date=2020-06-24|website=TBI Vision|language=en-US}}</ref>


On August 4, 2020, ViacomCBS announced that the connected video advertising platform EyeQ is set to launch in this fall.<ref>{{Cite web|date=2020-08-04|title=ViacomCBS Sets Launch Of EyeQ, A Comprehensive Offering For Advertisers|url=https://deadline.com/2020/08/viacomcbs-sets-launch-of-eyeq-a-comprehensive-offering-for-advertisers-1203002456/|access-date=2020-08-04|last=Hayes|first=Dade|website=[[Deadline Hollywood]]|language=en-US}}</ref>
On August 4, 2020, ViacomCBS announced that the company's connected video advertising platform, EyeQ, is set to launch in fall 2020.<ref>{{Cite web|date=2020-08-04|title=ViacomCBS Sets Launch Of EyeQ, A Comprehensive Offering For Advertisers|url=https://deadline.com/2020/08/viacomcbs-sets-launch-of-eyeq-a-comprehensive-offering-for-advertisers-1203002456/|access-date=2020-08-04|last=Hayes|first=Dade|website=[[Deadline Hollywood]]|language=en-US}}</ref>


On September 14, 2020, ViacomCBS announced an agreement to sell [[CNET|CNET Media Group]] to [[Red Ventures]] for $500 million. The deal will include the eponymous CNET tech site, as well as [[ZDNet]], [[GameSpot]], the ''[[TV Guide]]'' digital assets, [[Metacritic]], and [[Chowhound]].<ref>{{Cite web|date=2020-09-14|title=Red Ventures acquires CNET Media Group from ViacomCBS for $500M|url=https://techcrunch.com/2020/09/14/red-ventures-acquires-cnet-media-group-from-viacomcbs-for-500m/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvLnVrLw&guce_referrer_sig=AQAAAMqK49J0AJu7daul1dm-cYSAwq7cGMHxwALrihxjpn1qzw5QFvhVQc52KTZM32aJl6udfQyr3rZVLTSRuf0kXYoORsqSv0o40c0qD4JiSAjOuGT2caPNZyHuctgfLW3eqfeuNmat_M13y7vs7V_se-5cBj4bkM5RG6LXqM8at5lT|access-date=2020-09-14|last=Hayes|website=techcrunch.com|language=en-US}}</ref><ref>{{Cite news|last=Mullin|first=Benjamin|date=2020-09-14|title=WSJ News Exclusive {{!}} ViacomCBS to Sell CNET to Red Ventures for $500 Million|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/viacomcbs-nears-deal-to-sell-cnet-to-red-ventures-for-500-million-11600057067|access-date=2020-09-15|issn=0099-9660}}</ref> The deal was closed on October 30, 2020.<ref>{{Cite web|title=Red Ventures Announces Closing of Acquisition of CNET Media Group|url=https://www.prnewswire.com/news-releases/red-ventures-announces-closing-of-acquisition-of-cnet-media-group-301163922.html|date=2020-10-30|access-date=2020-11-06|website=PR Newswire|language=en}}</ref>
On September 14, 2020, ViacomCBS announced an agreement to sell the CBSi owned [[CNET|CNET Media Group]] to [[Red Ventures]] for $500 million. The deal will include the eponymous CNET tech site, as well as [[ZDNet]], [[GameSpot]], the ''[[TV Guide]]'' digital assets, [[Metacritic]], and [[Chowhound]].<ref>{{Cite web|date=2020-09-14|title=Red Ventures acquires CNET Media Group from ViacomCBS for $500M|url=https://techcrunch.com/2020/09/14/red-ventures-acquires-cnet-media-group-from-viacomcbs-for-500m/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvLnVrLw&guce_referrer_sig=AQAAAMqK49J0AJu7daul1dm-cYSAwq7cGMHxwALrihxjpn1qzw5QFvhVQc52KTZM32aJl6udfQyr3rZVLTSRuf0kXYoORsqSv0o40c0qD4JiSAjOuGT2caPNZyHuctgfLW3eqfeuNmat_M13y7vs7V_se-5cBj4bkM5RG6LXqM8at5lT|access-date=2020-09-14|last=Hayes|website=techcrunch.com|language=en-US}}</ref><ref>{{Cite news|last=Mullin|first=Benjamin|date=2020-09-14|title=WSJ News Exclusive {{!}} ViacomCBS to Sell CNET to Red Ventures for $500 Million|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/viacomcbs-nears-deal-to-sell-cnet-to-red-ventures-for-500-million-11600057067|access-date=2020-09-15|issn=0099-9660}}</ref> The deal closed on October 30, 2020.<ref>{{Cite web|title=Red Ventures Announces Closing of Acquisition of CNET Media Group|url=https://www.prnewswire.com/news-releases/red-ventures-announces-closing-of-acquisition-of-cnet-media-group-301163922.html|date=2020-10-30|access-date=2020-11-06|website=PR Newswire|language=en}}</ref>


On November 17, 2020, [[Vivendi]], [[Penguin Random House]] and [[HarperCollins]] had considered acquiring Simon & Schuster for as much as $1.7 billion. ViacomCBS expected the bids to be placed before Thanksgiving 2020 (November 26).<ref>{{Cite web|title=Simon & Schuster Bids Due by Thanksgiving; News Corp., Bertelsmann, Vivendi Contenders for ViacomCBS Publisher|url=https://deadline.com/2020/11/harpercollins-bertelsmann-vivendi-contenders-for-simon-schuster-bids-viacomcbs-publisher-thanksgiving-1234617076|website=Deadline|last=Goldsmith|first=Jill|date=November 17, 2020|access-date=November 28, 2020}}</ref> On November 25, 2020, Penguin Random House agreed to purchase Simon & Schuster for $2.175 billion, pending regulatory approval.<ref>{{Cite web|title=ViacomCBS Sells Simon & Schuster to Penguin Random House for $2 billion|url=https://www.cnbc.com/2020/11/25/viacomcbs-sells-simon-schuster-to-penguin-random-house-for-2-billion.html|website=CNBC|last=Whitten|first=Sarah|date=November 25, 2020|access-date=November 28, 2020}}</ref>
On November 17, 2020, various news outlets had reported that companies such as [[Vivendi]], [[Bertelsmann]]'s [[Penguin Random House]] and [[News Corp]]'s [[HarperCollins]] had considered acquiring Simon & Schuster for as much as $1.7 billion. ViacomCBS had expected the bids to be placed before November 26.<ref>{{Cite web|title=Simon & Schuster Bids Due by Thanksgiving; News Corp., Bertelsmann, Vivendi Contenders for ViacomCBS Publisher|url=https://deadline.com/2020/11/harpercollins-bertelsmann-vivendi-contenders-for-simon-schuster-bids-viacomcbs-publisher-thanksgiving-1234617076|website=Deadline|last=Goldsmith|first=Jill|date=November 17, 2020|access-date=November 28, 2020}}</ref> On November 25, 2020, Penguin Random House agreed to purchase Simon & Schuster for $2.175 billion, pending regulatory approval.<ref>{{Cite web|title=ViacomCBS Sells Simon & Schuster to Penguin Random House for $2 billion|url=https://www.cnbc.com/2020/11/25/viacomcbs-sells-simon-schuster-to-penguin-random-house-for-2-billion.html|website=CNBC|last=Whitten|first=Sarah|date=November 25, 2020|access-date=November 28, 2020}}</ref>
== ViacomCBS Internatonal ==
== ViacomCBS International ==
The subsidiary responsible called '''ViacomCBS International Inc.''' (formerly known as '''Viacom International Inc.''') for copyrights and trademarks associated with its corporate websites and its cable networks, specifically its [[ViacomCBS Domestic Media Networks|Domestic Media Networks]] division, and is the division which [[brand licensing|licenses]] the product rights for their various properties. Prior to 1986, Viacom International was the parent company of [[Viacom (1952–2006)|Viacom]], and the old [[CBS]] TV show catalogs. Before the merger with [[Westinghouse Electric Corporation|CBS Corporation]] in 1999, it also acted as the first Viacom's licensee company for Viacom's owned [[television stations]]; for instance [[New Britain, Connecticut]] station [[WVIT]], currently an [[NBC]] [[owned-and-operated]] station for the [[Hartford, Connecticut|Hartford]] market owned by Viacom from 1978 until 1997, took their call letters from Viacom International.
'''ViacomCBS International Inc.''' (formerly known as '''Viacom International Inc.''') is the subsidiary responsible called for copyrights and trademarks associated with its corporate websites and cable networks, specifically its [[ViacomCBS Domestic Media Networks|Domestic Media Networks]] division, and is the division which [[brand licensing|licenses]] the product rights for their various properties. Prior to 1986, Viacom International was the parent company of [[Viacom (1952–2006)|Viacom]], and the old [[CBS]] television show catalogs. Before the merger with [[Westinghouse Electric Corporation|CBS Corporation]] in 1999, it also acted as the first Viacom's licensee company for Viacom's owned [[television stations]]; for instance, [[New Britain, Connecticut]] station [[WVIT]], currently an [[NBC]] [[owned-and-operated]] station for the [[Hartford, Connecticut|Hartford]] market owned by Viacom from 1978 until 1997, took their call letters from Viacom International. Since the second merger between Viacom and CBS in 2019, this subsidiary has been renamed in 2020.
Since the second merger between Viacom and CBS in 2019, this subsidiary has been renamed in 2020.


== Company units ==
== Company units ==
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* '''CBS Entertainment Group''' consists of CBS-branded assets, including the [[CBS]] television network, [[CBS News]], [[CBS Sports]], [[CBS Studios]], [[CBS Media Ventures]], [[Big Ticket Television]], [[CBS Television Stations]], and [[CBS Interactive]]. The unit also has a 50% interest in [[The CW]] television network joint venture co-owned by [[AT&T]] subsidiary [[WarnerMedia]] through its [[Warner Bros.]] division.<ref>{{cite web|title=CW Network LLC profile|url=https://www.bloomberg.com/profile/company/682039Z:US|periodical=[[Bloomberg BusinessWeek]]|publisher=[[Bloomberg L.P.]]|access-date=September 27, 2012|archive-url = https://web.archive.org/web/20160308003350/http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=32854971|archive-date = March 8, 2016}}</ref>
* '''CBS Entertainment Group''' consists of CBS-branded assets, including the [[CBS]] television network, [[CBS News]], [[CBS Sports]], [[CBS Studios]], [[CBS Media Ventures]], [[Big Ticket Television]], [[CBS Television Stations]], and [[CBS Interactive]]. The unit also has a 50% interest in [[The CW]] television network joint venture co-owned by [[AT&T]] subsidiary [[WarnerMedia]] through its [[Warner Bros.]] division.<ref>{{cite web|title=CW Network LLC profile|url=https://www.bloomberg.com/profile/company/682039Z:US|periodical=[[Bloomberg BusinessWeek]]|publisher=[[Bloomberg L.P.]]|access-date=September 27, 2012|archive-url = https://web.archive.org/web/20160308003350/http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=32854971|archive-date = March 8, 2016}}</ref>
* '''[[ViacomCBS Domestic Media Networks|Domestic Media Networks]]''' encompasses the pay television channels provided in the United States, such as [[MTV]], [[Nickelodeon]], [[Showtime (TV network)|Showtime]], [[BET]], [[Comedy Central]], [[TV Land]], [[Paramount Network]], [[Logo TV|Logo]], [[CMT (American TV channel)|CMT]], [[Pop (American TV channel)|Pop TV]], [[Smithsonian Channel]], [[VH1]], [[The Movie Channel]], and [[Flix (TV network)|Flix]]. ViacomCBS Domestic also controls production facilities for the channels listed above, including [[Nickelodeon Animation Studio]].
* '''[[ViacomCBS Domestic Media Networks|Domestic Media Networks]]''' encompasses the pay television channels owned byViacomCBS in the United States, such as [[MTV]], [[Nickelodeon]], [[Showtime (TV network)|Showtime]], [[BET]], [[Comedy Central]], [[TV Land]], [[Paramount Network]], [[Logo TV|Logo]], [[CMT (American TV channel)|CMT]], [[Pop (American TV channel)|Pop TV]], [[Smithsonian Channel]], [[VH1]], [[The Movie Channel]], and [[Flix (TV network)|Flix]]. ViacomCBS Domestic also controls production facilities for the channels listed above, including [[Nickelodeon Animation Studio]].
* '''[[ViacomCBS Networks International|International Networks]]''' encompasses certain international versions of the company's domestic channels, as well as region-specific networks, such as [[Channel 5 (British TV channel)|Channel 5]] in the United Kingdom, [[Network 10]] in Australia, and [[Telefe]] in Argentina. ViacomCBS International also owns a third<ref>{{cite web|url=https://legislatura17.infoparlamento.it/wp-content/uploads/2015/09/140729-Memoria-MTV.pdf#page=4|title=Le Società italiane del gruppo Viacom|publisher=Viacom International Media Networks|date=July 29, 2014|archive-url=https://web.archive.org/web/20191207005838/https://legislatura17.infoparlamento.it/wp-content/uploads/2015/09/140729-Memoria-MTV.pdf#page=4|archive-date=December 7, 2019}}</ref> of the [[Rainbow S.r.l.]] television studio in Italy, as well as a 49% stake in the [[Viacom 18]] joint venture with [[TV18]].<ref>{{Cite web|url=https://www.viacom18.com/media/tv18-to-increase-stake-to-51-percentage-in-viacom18-the-jv-withviacom-inc|title=TV18 to increase stake to 51% in Viacom18, the JV with Viacom Inc|date=January 31, 2018|website=Viacom18|access-date=January 31, 2018|archive-url=https://web.archive.org/web/20190713115247/https://www.viacom18.com/media/tv18-to-increase-stake-to-51-percentage-in-viacom18-the-jv-withviacom-inc|archive-date=July 13, 2019}}</ref> This unit also includes all CBS-branded channels across Europe, which are co-owned with [[AMC Networks International]].
* '''[[ViacomCBS Networks International|International Networks]]''' encompasses certain international versions of the company's domestic channels, as well as region-specific networks, such as [[Channel 5 (British TV channel)|Channel 5]] in the United Kingdom, [[Network 10]] in Australia, and [[Telefe]] in Argentina. ViacomCBS International also owns a third<ref>{{cite web|url=https://legislatura17.infoparlamento.it/wp-content/uploads/2015/09/140729-Memoria-MTV.pdf#page=4|title=Le Società italiane del gruppo Viacom|publisher=Viacom International Media Networks|date=July 29, 2014|archive-url=https://web.archive.org/web/20191207005838/https://legislatura17.infoparlamento.it/wp-content/uploads/2015/09/140729-Memoria-MTV.pdf#page=4|archive-date=December 7, 2019}}</ref> of the [[Rainbow S.r.l.]] television studio in Italy, as well as a 49% stake in the [[Viacom 18]] joint venture with [[TV18]].<ref>{{Cite web|url=https://www.viacom18.com/media/tv18-to-increase-stake-to-51-percentage-in-viacom18-the-jv-withviacom-inc|title=TV18 to increase stake to 51% in Viacom18, the JV with Viacom Inc|date=January 31, 2018|website=Viacom18|access-date=January 31, 2018|archive-url=https://web.archive.org/web/20190713115247/https://www.viacom18.com/media/tv18-to-increase-stake-to-51-percentage-in-viacom18-the-jv-withviacom-inc|archive-date=July 13, 2019}}</ref> This unit also includes all CBS-branded channels across Europe, which are co-owned with [[AMC Networks International]].
* '''[[ViacomCBS Global Distribution|Global Distribution Group]]''' focuses on the global distribution of all programs produced by all ViacomCBS production studios. The division consists of ViacomCBS International Studios.
* '''[[ViacomCBS Global Distribution|Global Distribution Group]]''' focuses on the global distribution of all programs produced by all ViacomCBS production studios. The division consists of ViacomCBS International Studios.


Other assets owned by ViacomCBS are the [[Paramount Pictures]] film and television studio, the subscription streaming service [[Paramount+]], over-the-top ad-supported video-on-demand platform [[Pluto TV]], book publisher [[Simon & Schuster]], multi-genre online video conference [[VidCon]], [[Bellator MMA|Bellator]] mixed martial arts promotor, and media and entertainment company [[AwesomenessTV]]. As of November 2019, AwesomenessTV is overseen by its co-founder [[Brian Robbins]], an executive for ViacomCBS Domestic.<ref>{{cite web|url=https://www.latimes.com/entertainment-arts/business/story/2019-11-10/viacom-cbs-management-mccarthy-nevins-robbins|title=Viacom reorganizes creative team in advance of CBS merger|date=November 10, 2019|work=[[Los Angeles Times]]|last=James|first=Meg}}</ref> The company has an undisclosed stake in [[FuboTV]], acquired in 2020.<ref>{{Cite web|last=|first=|date=|title=How ViacomCBS Has Sharpened Its Focus on Streaming Via Deals {{!}} Hollywood Reporter|url=https://www.hollywoodreporter.com/news/how-viacomcbs-has-sharpened-its-focus-on-streaming-via-deals|url-status=live|archive-url=|archive-date=|access-date=2021-01-07|website=www.hollywoodreporter.com}}</ref>
Other assets owned by ViacomCBS include the [[Paramount Pictures]] film and television studio, the company's flagship subscription streaming service [[Paramount+]], over-the-top ad-supported video-on-demand platform [[Pluto TV]], book publisher [[Simon & Schuster]], multi-genre online video conference [[VidCon]], mixed martial arts promoter [[Bellator MMA|Bellator]], and media and entertainment company [[AwesomenessTV]]. As of November 2019, AwesomenessTV is overseen by its co-founder [[Brian Robbins]], an executive for ViacomCBS Domestic.<ref>{{cite web|url=https://www.latimes.com/entertainment-arts/business/story/2019-11-10/viacom-cbs-management-mccarthy-nevins-robbins|title=Viacom reorganizes creative team in advance of CBS merger|date=November 10, 2019|work=[[Los Angeles Times]]|last=James|first=Meg}}</ref> The company also has an undisclosed stake in [[FuboTV]], acquired in 2020.<ref>{{Cite web|last=|first=|date=|title=How ViacomCBS Has Sharpened Its Focus on Streaming Via Deals {{!}} Hollywood Reporter|url=https://www.hollywoodreporter.com/news/how-viacomcbs-has-sharpened-its-focus-on-streaming-via-deals|url-status=live|archive-url=|archive-date=|access-date=2021-01-07|website=www.hollywoodreporter.com}}</ref>


== References ==
== References ==

Revision as of 15:58, 10 March 2021

ViacomCBS Inc.
Company typePublic
ISINUS92556H2067
IndustryMass media
Predecessors
FoundedDecember 4, 2019; 5 years ago (2019-12-04)
FounderShari Redstone
HeadquartersOne Astor Plaza,
Manhattan, New York City
,
United States
Area served
Worldwide
Key people
RevenueIncrease US$25.29 billion (2020)
Decrease US$4.14 billion (2020)
Increase US$2.42 billion (2020)
Total assetsIncrease US$52.66 billion (2020)
Total equityIncrease US$15.37 billion (2020)
Owners
Number of employees
22,109[3]
Divisions
Subsidiaries
Websitewww.viacomcbs.com

ViacomCBS Inc. is an American diversified multinational mass media conglomerate formed through the merger of the second incarnation of CBS Corporation and the second incarnation of Viacom on December 4, 2019,[4] which were split from the first incarnation of Viacom in 2006. Headquartered at One Astor Plaza in Midtown Manhattan, New York City, the company operates over 170 networks and reaches approximately 700 million subscribers in approximately 160 countries, as of 2020.[citation needed]

The company's main assets include the Paramount Pictures film and television studio, the CBS Entertainment Group (consisting of the CBS television network, television stations, and other CBS-branded assets), domestic networks (consisting of U.S.-based basic and premium-tier cable television networks including MTV, Nickelodeon, BET, Comedy Central, and Showtime), international networks (consisting of international versions of domestic ViacomCBS networks as well as region-specific networks), the Paramount+ subscription streaming service, the Pluto TV ad-supported television streaming service, and the Simon & Schuster book publisher.

Background

Main articles: Viacom (1952–2006), CBS Corporation, and Viacom (2005–2019)
original Viacom logo
CBS Corporation logo
spun-off Viacom logo

In 1952, CBS formed CBS Television Film Sales, a division which handled syndication rights for CBS's library of network owned television series. This division was renamed CBS Films in 1958, and again renamed CBS Enterprises Inc. in January 1968, and finally renamed Viacom in 1970. In 1971, this syndication division was spun off amid new FCC rules forbidding television networks from owning syndication companies. (The rules were abolished completely in 1993.)[5] In 1985, Viacom purchased MTV Networks & Showtime/The Movie Channel Inc. from Warner Communications and American Express.[6] In 1986, Viacom was acquired by its present owner, theater operator company National Amusements. In 1994, Viacom acquired Paramount Communications. In 1999, Viacom made its biggest acquisition to date by announcing plans to merge with its former parent CBS Corporation (the renamed Westinghouse Electric Corporation, which had merged with CBS in 1995). The merger was completed in 2000, resulting in CBS reuniting with its former syndication division. On January 3, 2006, Viacom was split into two companies: CBS Corporation, the former's corporate successor and the spun-off Viacom company.[citation needed]

History

Further information: 2019 merger of CBS and Viacom
The evolution of Paramount
1886Westinghouse Electric Corporation is founded as Westinghouse Electric & Manufacturing Company
1912Famous Players Film Company is founded
1913Lasky Feature Play Company is founded
1914Paramount Pictures is founded
1916Famous Players and Lasky merge as Famous Players–Lasky and acquire Paramount
1927Famous Players–Lasky renamed to Paramount Famous Lasky Corporation; CBS is founded with investment from Columbia Records
1929Paramount acquires 49% of CBS
1930Paramount Famous Lasky Corporation renamed to Paramount Publix Corporation
1932Paramount sells back its shares of CBS
1934Gulf+Western is founded as the Michigan Bumper Corporation
1935Paramount Publix Corporation renamed to Paramount Pictures
1936National Amusements is founded as Northeast Theater Corporation
1938CBS acquires Columbia Records
1950Desilu is founded and CBS distributes its television programs
1952CBS creates the CBS Television Film Sales division
1958CBS Television Film Sales renamed to CBS Films
1966Gulf+Western acquires Paramount
1967Gulf+Western acquires Desilu and renames it Paramount Television (now CBS Studios)
1968CBS Films renamed to CBS Enterprises
1970CBS Enterprises renamed to Viacom
1971Viacom is spun off from CBS
1987National Amusements acquires Viacom
1988CBS sells Columbia Records to Sony
1989Gulf+Western renamed to Paramount Communications
1994Viacom acquires Paramount Communications
1995Westinghouse acquires CBS
1997Westinghouse renamed to CBS Corporation
2000Viacom acquires UPN and CBS Corporation
2005Viacom splits into second CBS Corporation and Viacom
2006CBS Corporation shuts down UPN and replaces it with The CW
2017CBS Corporation sells CBS Radio to Entercom (now Audacy)
2019CBS Corporation and Viacom re-merge as ViacomCBS
2022ViacomCBS renamed to Paramount Global
2024Skydance Media and Paramount Global agree to merge

Formation

On September 29, 2016, National Amusements, the parent company of CBS Corporation and Viacom, wrote to Viacom and CBS encouraging the two companies to merge back into one company.[7] On December 12, the deal was called off.[8]

On January 12, 2018, CNBC reported that Viacom had re-entered talks to merge back into CBS Corporation, after the merger of AT&T-Time Warner and Disney's proposed acquisition of most of 21st Century Fox's assets were announced. Viacom and CBS also faced heavy competition from companies such as Netflix and Amazon.[9] Shortly afterward, it was reported that the combined company could be a suitor for acquiring the film studio Lionsgate.[10] Viacom and Lionsgate were both interested in acquiring The Weinstein Company.[11] Following the Weinstein effect, Viacom was listed as one of 22 potential buyers that were interested in acquiring TWC.[11] They lost the bid, and on March 1, 2018, it was announced that Maria Contreras-Sweet would acquire all of TWC's assets for $500 million.[12][13] Lantern Capital would later acquire the studio.

On March 30, 2018, CBS made an all-stock offer slightly below Viacom's market value, insisting that its existing leadership, including long-time chairman and CEO Les Moonves, oversee the re-combined company. Viacom rejected the offer as too low, requesting a $2.8 billion increase and that Bob Bakish be maintained as president and COO under Moonves. These conflicts had resulted from Shari Redstone seeking more control over CBS and its leadership.[14][15]

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 it or Viacom.[16][17] CBS also accused Redstone of discouraging Verizon Communications from acquiring it, which could have been beneficial to its shareholders.[18]

On May 23, 2018, Les Moonves explained that he considered the Viacom channels to be an "albatross," and while he favored more content for CBS All Access, he believed that there were better deals for CBS than the Viacom deal, such as Metro-Goldwyn-Mayer, Lionsgate, or Sony Pictures. Moonves also considered Bakish a threat because he did not want an ally of Shari Redstone as a board member of the combined company.[19]

On September 9, 2018, Les Moonves exited CBS following multiple accusations of sexual assault. National Amusements agreed to make no proposal of a CBS-Viacom merger for at least two years after the date of the settlement.[20]

On May 30, 2019, CNBC reported that CBS Corporation and Viacom would explore merger discussions in mid-June 2019. CBS's board of directors was revamped with people who were open to merging; the re-merger was made possible with the resignation of Moonves, who had opposed all merger attempts. The talks had started following rumors of CBS acquiring Starz from Lionsgate.[21] Reports said that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies.[22][23] CBS announced to acquire Viacom as part of the re-merger deal for up to $15.4 billion.[24]

On August 2, 2019, it was reported that CBS and Viacom agreed to merge back into one entity, with both companies coming to an agreement on the management team for the merger. Bob Bakish would serve as CEO of the combined company with president and acting CEO of CBS, Joseph Ianniello, overseeing CBS-branded assets.[25] On August 7, 2019, CBS and Viacom separately reported their quarterly earnings as the talks about the re-merger continued.[26][27]

Operations

On August 13, 2019, CBS and Viacom officially announced their merger; the combined company was to be named ViacomCBS, with Shari Redstone serving as chair.[28][29][30] Upon the merger agreement, Viacom and CBS jointly announced that the transaction is expected to close by the end of 2019, pending regulatory and shareholder approvals.[30] The merger required approval by the Federal Trade Commission.[30]

On October 28, 2019, the merger was approved by National Amusements, which then announced the deal would close in early December; the recombined company will trade its shares on NASDAQ under the symbols "VIAC" and "VIACA" after CBS Corporation delist its shares on the New York Stock Exchange.[31][32]

On November 25, 2019, Viacom and CBS announced the merger would close on December 4 and begin trading on NASDAQ on next day.[33][34] On December 4, 2019, Bakish confirmed that the ViacomCBS merger had closed.[35]

On December 10, 2019, days after the merger, Bakish announced that ViacomCBS would look to divest Black Rock, the building that held CBS's headquarters since 1964. He stated, "Black Rock is not an asset we need to own and we believe that money would be put to better use elsewhere."[36] On December 20, 2019, ViacomCBS agreed to acquire a 49% minority stake in film studio Miramax from beIN Media Group for $379 million. As part of the purchase, Paramount Pictures reached a long-term deal for exclusive distribution rights to its library, and first-look agreements to co-develop new film and television projects based on Miramax-owned properties.[37]

On March 2, 2020, executive vice president Dana McClintock announced that he would depart the company after 27 years in CBS Communications.[38] On March 4, the company announced plans to potentially sell its Simon & Schuster publishing unit, with Bakish arguing that it lacked a "significant connection for our broader business.”[39]

On June 19, 2020, Jaime Ondarza, formerly the senior vice president of Turner Broadcasting South Europe and Africa, became the new head of ViacomCBS Networks International for France, Spain, Italy, the Middle East, Greece and Turkey.[40]

On August 4, 2020, ViacomCBS announced that the company's connected video advertising platform, EyeQ, is set to launch in fall 2020.[41]

On September 14, 2020, ViacomCBS announced an agreement to sell the CBSi owned CNET Media Group to Red Ventures for $500 million. The deal will include the eponymous CNET tech site, as well as ZDNet, GameSpot, the TV Guide digital assets, Metacritic, and Chowhound.[42][43] The deal closed on October 30, 2020.[44]

On November 17, 2020, various news outlets had reported that companies such as Vivendi, Bertelsmann's Penguin Random House and News Corp's HarperCollins had considered acquiring Simon & Schuster for as much as $1.7 billion. ViacomCBS had expected the bids to be placed before November 26.[45] On November 25, 2020, Penguin Random House agreed to purchase Simon & Schuster for $2.175 billion, pending regulatory approval.[46]

ViacomCBS International

ViacomCBS International Inc. (formerly known as Viacom International Inc.) is the subsidiary responsible called for copyrights and trademarks associated with its corporate websites and cable networks, specifically its Domestic Media Networks division, and is the division which licenses the product rights for their various properties. Prior to 1986, Viacom International was the parent company of Viacom, and the old CBS television show catalogs. Before the merger with CBS Corporation in 1999, it also acted as the first Viacom's licensee company for Viacom's owned television stations; for instance, New Britain, Connecticut station WVIT, currently an NBC owned-and-operated station for the Hartford market owned by Viacom from 1978 until 1997, took their call letters from Viacom International. Since the second merger between Viacom and CBS in 2019, this subsidiary has been renamed in 2020.

Company units

For a more comprehensive list, see List of assets owned by ViacomCBS.

ViacomCBS comprises four major units:

Other assets owned by ViacomCBS include the Paramount Pictures film and television studio, the company's flagship subscription streaming service Paramount+, over-the-top ad-supported video-on-demand platform Pluto TV, book publisher Simon & Schuster, multi-genre online video conference VidCon, mixed martial arts promoter Bellator, and media and entertainment company AwesomenessTV. As of November 2019, AwesomenessTV is overseen by its co-founder Brian Robbins, an executive for ViacomCBS Domestic.[50] The company also has an undisclosed stake in FuboTV, acquired in 2020.[51]

References

  1. ^ "SEC Filing - ViacomCBS Inc". ir.viacomcbs.com.
  2. ^ Sherman, Alex (August 12, 2020). "Sumner Redstone handed a media empire to his daughter, Shari, who now controls its fate". CNBC. Shari owns the other 20% through a separate trust.
  3. ^ "ViacomCBS (VIAC)". Retrieved February 26, 2021.
  4. ^ "CBS and Viacom Reveal December Merger Date – Mark Your Calendars". November 25, 2019.
  5. ^ D. Croteau; W. Hoynes (2006). The Business of Media: Corporate Media and the Public Interest. Thousand Oaks, California: Pine Forge Press. pp. 100–101.
  6. ^ Fabrikant, Geraldine (September 17, 1986). "VIACOM CHIEF LEADS GROUP'S BUYOUT BID (Published 1986)". The New York Times. ISSN 0362-4331. Retrieved January 23, 2021. 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.{{cite news}}: CS1 maint: url-status (link)
  7. ^ Szalai, George (September 29, 2016). "National Amusements Proposes Viacom, CBS Reunion, Cites "Substantial Synergies"". The Hollywood Reporter. Retrieved October 13, 2016.
  8. ^ "Shari Redstone withdraws CBS-Viacom merger proposal". CNBC. December 12, 2016. Retrieved December 17, 2016.
  9. ^ Wang, Christine (January 12, 2018). "Viacom, CBS shares surge after report Shari Redstone pursuing merge of companies". CNBC. Retrieved January 12, 2018.
  10. ^ Busch, Anita; Chmielewski, Anita (January 17, 2019). "Lionsgate Ripe For Takeover As Amazon, Verizon and CBS-Viacom Emerge As Potential Suitors". Deadline Hollywood. Retrieved January 19, 2018.
  11. ^ a b "Weinstein Co Talking to 22 Buyers, $300 Million Expected Price, Bob Weinstein Must Exit". The Wrap. October 26, 2017. Retrieved October 26, 2017.
  12. ^ Ryan Faughnder (March 1, 2018). "Former Obama administration official has reached a deal to buy Weinstein Co. assets". Los Angeles Times. Retrieved March 2, 2018.
  13. ^ Chmielewski, Dawn (March 2, 2018). "TWC Board, New York AG Confirm Maria Contreras-Sweet Group Has Acquired Weinstein Company Assets". Deadline Hollywood. Retrieved March 2, 2018.
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  18. ^ Chmielewski, Dawn C. (May 14, 2018). "Verizon Expressed Interest in Acquiring CBS Before Viacom Talks Heated Up". Deadline Hollywood. Retrieved May 26, 2018.
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  20. ^ Parker, Ryan (September 9, 2018). "Leslie Moonves Exits CBS After Being Accused of Sex Crimes, Violence by More Women". The Hollywood Reporter.
  21. ^ James, Meg (May 30, 2019). "CBS and Viacom merger negotiations expected to resume". Los Angeles Times. Retrieved June 2, 2019.
  22. ^ Munson, Ben (July 16, 2019). "CBS, Viacom set early August deadline for remerger agreement – report". FierceVideo. Retrieved July 20, 2019.
  23. ^ Littleton, Synthia (July 19, 2019). "CBS, Viacom Boards Wrestle With Post-Merger Management Decisions, Ending COO Role (EXCLUSIVE)". Variety. Retrieved July 20, 2019.
  24. ^ "How a Merged CBS-Viacom Could Try to Compete with Hollywood Giants". The Hollywood Reporter. July 19, 2019. Retrieved August 7, 2019. CBS' plan to acquire Viacom for up to $15.4 billion could be announced Aug. 8, giving its controlling shareholder the ability to leverage IP like 'Star Trek' across film and TV to better compete with Disney, Netflix and the rest.
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  36. ^ Weprin, Alex. "CBS' Historic New York Headquarters to Be Sold". The Hollywood Reporter. Retrieved December 10, 2019.
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