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Concept
Viacom (1952–2006)
Summary
The original incarnation of Viacom Inc. (derived from "Video & Audio Communications") was an American mass media and entertainment conglomerate based in New York City. It began as CBS Television Film Sales, the broadcast syndication division of the CBS television network in 1952; it was renamed CBS Films in 1958, renamed CBS Enterprises in 1968, renamed Viacom in 1970, and spun off into its own company in 1971. Viacom was a distributor of CBS television series throughout the 1970s and 1980s, and also distributed syndicated television programs. The company went under Sumner Redstone's control in 1987 through his cinema chain company National Amusements.
At the time of its split, Viacom's assets included the CBS and UPN broadcast networks, the Paramount Pictures film & television studio, local radio station operator CBS Radio, cable channels such as MTV, Nickelodeon, Comedy Central, BET and Showtime, outdoor media operator Viacom Outdoor, television production and distribution firm King World Productions, and book publisher Simon & Schuster. It also owned its IP holding subsidiary Viacom International and brand licensor Westinghouse Licensing Corporation.
In 2000, Viacom acquired the parent company of CBS, the former Westinghouse Electric Corporation, which became the original CBS Corporation in 1997. Viacom was split into the second CBS Corporation and Viacom incarnations — both remained under National Amusements ownership — in 2005; the split was structured with the second CBS Corporation being the original Viacom's legal successor, and the second Viacom being an entirely new company.
Viacom originated on March 16, 1952 — when CBS founded its broadcast syndication division, CBS Television Film Sales. It renamed as CBS Films in October 1958. On December 1, 1967, it again renamed as CBS Enterprises Inc.. On July 6, 1970, it announced that CBS Enterprises would be spin out from its parent company, and the same month the division was incorporated as Viacom, and spun off on January 1, 1971, amid new FCC rules forbidding television networks from owning syndication companies (the rules were later repealed).
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