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Viacom (2005–2019)

American mass media company (2005–2009) / From Wikipedia, the free encyclopedia

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The second incarnation of Viacom Inc. (/ˈvəkɒm/ VY-ə-kom or /ˈvəkɒm/ VEE-ə-kom; a portmanteau of Video & Audio Communications) was an American multinational mass media conglomerate with interests primarily in film and television, which was formed on December 31, 2005, as a spin-off of the original Viacom (founded by Ralph Baruch in 1952 as CBS Television Film Sales). It was one of two companies which succeeded the original Viacom, alongside the second incarnation of CBS Corporation; both were owned by National Amusements, a theater company controlled by businessman Sumner Redstone. The spin-off was structured so that CBS Corporation would be the legal successor to the first Viacom, with the second Viacom being an entirely separated company.[4][5][6][7][8]

Quick facts: Type, Traded as, Industry, Predecessors, Foun...
Viacom Inc.
IndustryMass media
  • December 31, 2005; 17 years ago (2005-12-31)
  • January 3, 2006; 17 years ago (2006-01-03) (official)[citation needed]
FounderSumner Redstone
DefunctDecember 4, 2019; 3 years ago (2019-12-04)
FateMerged with CBS Corporation to form ViacomCBS,[1] which became Paramount Global three years later
SuccessorParamount Global
Area served
Key people
RevenueDecrease US$12.838 billion (2019)[2]
Decrease US$2.462 billion (2019)[2]
Decrease US$1.522 billion (2019)[2]
Total assetsDecrease US$23.671 billion (2019)[2]
Total equityIncrease US$8.520 billion (2019)[2]
OwnerNational Amusements (80% voting power)
Number of employees
11,200 (2017)[3]
Subsidiaries (archived Dec 3, 2019)

The second Viacom operated Viacom Media Networks, through which it controlled approximately 170 networks and reached approximately 700 million subscribers in approximately 160 countries.[9] Viacom's studio assets included Paramount Pictures, MTV Films, and Nickelodeon Animation Studio, as well as a 30% ownership stake in the Rainbow S.p.A. animation studio.[10] CBS Corporation retained the over-the-air broadcasting, television production, pay television subscription service, and publishing assets, which were previously owned by the first Viacom. The second Viacom was the world's ninth-largest media company in terms of revenue and headquartered at One Astor Plaza in Midtown Manhattan, New York City.

Viacom would announce its second merger with CBS Corporation on August 13, 2019. The merger was completed on December 4, 2019, resulting in the creation of ViacomCBS (now Paramount Global).[11][12][13]