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However, in 1995 the Westinghouse Electric Corporation acquired the company, becoming CBS Corporation (after selling certain assets). In 2000, CBS sold again to the original incarnation of Viacom (formed as a spin-off of CBS in 1971, which acquired Paramount Pictures in 1994).
The first incarnation of Viacom was created in 1952 as the television syndication division of CBS and was spun off in 1971. However, in 1999, Viacom acquired its former parent, by this time also named CBS Corporation, formerly Westinghouse Electric.
CBS ventured and expanded its horizons through television starting in the 1940s, spinning off its broadcast syndication division Viacom to a separate company in 1971. In 1974, CBS dropped its original full name and became known simply as CBS, Inc.
While CBS did return to supremacy, it was achieved under a different corporate structure. In 2000 CBS was acquired by Sumner Redstone's media giant Viacom Inc. for $45 billion. Under Viacom, CBS's cable networks and radio holdings were transferred to other Viacom divisions.
- Radio Years
- Television Years: Expansion and Growth
- New Owners
The origins of CBS date back to January 27, 1927, with the creation of the “United Independent Broadcasters” network in Chicago by New York talent agent Arthur Judson. The fledgling network soon needed additional investors though, and the Columbia Phonograph Company, manufacturers of Columbia Records, rescued it in April 1927; as a result, the netw...
CBS’s involvement in television dates back to the opening of experimental station W2XABin New York City on July 21, 1931, using the mechanical television system that had been more or less perfected in the late 1920s. Its initial broadcast featured New York Mayor Jimmy Walker, Kate Smith, and George Gershwin. The station boasted the first regular se...
In 1995, Westinghouse Electric Corporation, an American manufacturing company, merged with the CBS television network and formed CBS Corporation. In 1999, Viacom acquired its former parent CBS Corporation. In January 2006, Viacom was split into two entities: CBS Corporation, the former’s corporate successor and the spun-off Viacom company. In 2019,...
Feb 16, 2022 · Viacom began life as a child company of CBS which handled syndication rights for the network before becoming its own separate company.
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The Westinghouse Electric Corporation acquired the network in 1995 and eventually adopted the name of the company it had bought to become CBS Corporation. In 2000, CBS came under the control of Viacom, which coincidentally had begun as a spin-off of CBS in 1971.
