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- The Redstone family, through its Massachusetts-based investment vehicle, National Amusements Inc., controls nearly 80% of the voting shares of the two companies. The family firm already has approved the all-stock transaction. Existing CBS shareholders will own 61% of the combined company, while existing Viacom shareholders will own about 39%.
www.latimes.com/entertainment-arts/business/story/2019-08-13/cbs-merger-viacom-comedy-central-mtv-paramount-picturesCBS and Viacom agree to merge, reuniting in $12-billion deal ...
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In 1987, Viacom was acquired by theater operator company National Amusements. [16] Meanwhile, Paramount Pictures was acquired by Gulf and Western Industries in 1966, which then re-branded itself as Paramount Communications in 1989. [17] Viacom then purchased Paramount Communications in 1994.
- What It Will Own
- Why It’S Happening
- What’s Next?
- What Does It Mean For Viewers?
The newly merged company will house a host of valuable media assets. Under CBS Corporation, the larger of the two companies, are the CBS broadcast network, local TV stations, the premium pay-TV channel Showtime, Network Ten in Australia, 50 percent of the CW Network with WarnerMedia, and the book publisher Simon & Schuster. Viacom owns Paramount Pi...
CBS and Viacom will need their greater size to compete with heavyweight rivals such as Netflix — which has 151 million paid subscribers — but also with Amazon, Disney, Hulu and a dizzying array of new entrants such as WarnerMedia's HBO Max and a new streaming service from Comcast’s NBCUniversal. (NBCUniversal is the parent company of NBC News.) The...
The CBS-Viacom merger is the culmination of at least three years of discussions. Earlier talks foundered after the CBS board and Les Moonves, the company's former chief executive officer, initiated a corporate coup, attempting to dilute the power of the Redstone family, which holds the majority of voting shares in Viacom and CBS via National Amusem...
Together, CBS and Viacom will offer a plethora of paid and free streaming services. And while other companies such as Disney have been yanking content from Netflix, CBS and Viacom are eager sellers to their competitors. But the bottom line is shifting ever higher as companies battle for viewers. “The media company of the future, if it wants to be v...
Jul 8, 2024 · The late Sumner Redstone and his daughter Shari Redstone have owned a controlling interest in Viacom, which was rebranded as Paramount, through their family holding company, National Amusements...
Jul 8, 2024 · Paramount Global, the sprawling media empire behind CBS, MTV, and one of Hollywood’s most storied movie studios, has agreed to merge with technology scion David Ellison’s Skydance Media, ending...
5 days ago · Seven years later Viacom acquired Paramount Communications and its various divisions, including Paramount Pictures. As CBS’s fortunes continued to decline, it was purchased by Westinghouse Electric in 1995, and the resulting venture was named CBS Corporation.
- The Editors of Encyclopaedia Britannica
As of the 2019 Viacom/CBS merger, this library now includes the theatrical distribution of Terrytoons short films on behalf of Paramount Animation, while CBS Media Ventures owns the television distribution.
Aug 13, 2019 · Existing CBS shareholders will own 61% of the combined company, while existing Viacom shareholders will own about 39%. Viacom shareholders will receive .59625 shares of CBS stock for every...
