Viacom
The first Viacom was a United States media conglomerate that grew from CBS's television-syndication division into an owner of major film studios, television networks, radio stations, publishing assets and entertainment businesses before its 2005 split.
Last updated August 31, 2026
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Overview
The first Viacom was an American mass-media and entertainment conglomerate whose roots lay in CBS's television-syndication business. CBS established CBS Television Film Sales on March 16, 1952, to distribute filmed television programs. The unit was renamed CBS Films in 1958 and CBS Enterprises in 1967 before being incorporated as Viacom in 1970 and spun off from CBS on January 1, 1971. The separation reflected United States Federal Communications Commission rules that restricted television networks from owning program-syndication companies. During the 1970s, Viacom remained closely associated with the distribution of CBS programming while broadening its activities into cable television, program acquisition, production and station ownership. In 1976 it helped launch Showtime as a pay-television movie service, initially with Warner-Amex as a partner. Viacom later reacquired full ownership of Showtime/The Movie Channel and in 1986 purchased MTV Networks, whose portfolio included MTV, VH1 and Nickelodeon. These transactions changed Viacom from a relatively specialized distributor into a diversified media company with significant cable-network operations. Viacom also expanded through broadcast acquisitions. It purchased WHNB-TV in Connecticut in 1978, later renamed WVIT, acquired the Sonderling Broadcasting group in 1980, and added television stations in Louisiana, New York, Missouri and other markets. It operated cable systems under Viacom Cablevision and later Viacom Cable, reaching approximately 1.1 million subscribers before selling that division to TCI in 1995. National Amusements, the cinema-chain company controlled by Sumner Redstone, acquired a controlling interest in Viacom in 1987. Under Redstone's control, Viacom pursued a large-scale acquisition strategy. It acquired Paramount Communications in 1994, bringing Paramount Pictures and extensive film and television libraries into the group, and bought Blockbuster Video in the same period. The Paramount transaction also gave Viacom a major television-station portfolio and helped support the creation of UPN, a broadcast network launched in 1995 as a joint venture with Chris-Craft Industries. Viacom later sold most of its non-UPN-affiliated stations. The company expanded and consolidated its television, radio and cable holdings during the late 1990s and early 2000s. It returned to radio ownership by acquiring the remaining shares of Infinity Broadcasting in 2002, acquired BET Holdings in 2001, and purchased additional international music-channel interests, including TMF and VIVA Media AG. In 2000, Viacom acquired CBS Corporation, the successor to its former parent, in a transaction valued at approximately $35.9 billion. The merger reunited the two businesses and added CBS broadcasting, King World Productions, Eyemark Entertainment and other assets to the enlarged group. Viacom's size and internal divisions eventually led to a corporate separation. In 2005, the company announced that it would divide into two separately traded businesses. The legal successor, CBS Corporation, retained CBS, Simon & Schuster and related assets, while a newly formed company also named Viacom received Paramount Pictures, MTV Networks, BET Networks and other entertainment properties. The split became effective on December 31, 2005, ending the existence of the first Viacom as a standalone corporate entity. The two successor companies reunited in 2019 as ViacomCBS, later renamed Paramount Global.
History
Viacom began as CBS Television Film Sales, the syndication arm established by CBS in 1952. It was renamed CBS Films in 1958 and CBS Enterprises in 1967. In 1970 CBS announced that the operation would be separated, and the business was incorporated as Viacom before becoming independent on January 1, 1971. The spin-off occurred in the context of FCC rules limiting the ability of television networks to own syndication companies. The new company initially concentrated on distributing CBS programs and other syndicated content. It gradually built a broader operating base through program acquisition, production, cable systems and broadcasting. Viacom launched Showtime in 1976 with Warner-Amex and began developing original programming in the late 1970s and early 1980s. It acquired television stations beginning with WHNB-TV in 1978 and expanded its radio presence through the 1980 purchase of Sonderling Broadcasting. During the 1980s it also reacquired Showtime and purchased MTV Networks, bringing MTV, VH1 and Nickelodeon into the company. National Amusements acquired control of Viacom in 1987. Sumner Redstone subsequently directed a period of aggressive expansion. Viacom established businesses for pay-per-view, satellite distribution, licensing and home video, and created Viacom Pictures in 1989 for feature-length television productions. In 1994 it acquired Paramount Communications, gaining Paramount Pictures, television stations, production libraries and other entertainment assets. It also acquired Blockbuster Video. The enlarged group helped create UPN in 1995 and used Paramount-related properties to strengthen its television and film operations. Viacom sold its cable systems to TCI in 1995 and exited most of its radio holdings in 1997, although it returned to radio after acquiring the remaining shares of Infinity Broadcasting in 2002. Other significant transactions included the purchase of BET Holdings in 2001, international music-channel acquisitions by MTV Networks International, and the purchase of the remaining interest in Comedy Central in 2003. The 1999 agreement to acquire CBS was completed in 2000. The transaction reunited Viacom with its former parent and added CBS broadcasting, King World Productions, Eyemark Entertainment and other assets. By the early 2000s, Viacom controlled a large collection of film studios, broadcast and cable networks, radio stations, publishing assets, video businesses and intellectual-property operations. In 2005 the company announced a separation intended to distinguish slower-growth assets from higher-growth entertainment networks and studios. The transaction was also shaped by succession planning and tensions among senior executives. It became effective on December 31, 2005. CBS Corporation became the legal successor to the original Viacom, while a newly created company retained the Viacom name and received Paramount Pictures, MTV Networks, BET Networks and related operations. The successor businesses later reunited in 2019 as ViacomCBS, which was subsequently renamed Paramount Global.
- 2005
Original Viacom is divided
[1]The corporate separation creates CBS Corporation and a new company using the Viacom name.
- 2000
CBS acquisition closes
[1]Viacom completes its acquisition of CBS Corporation and reunites with its former parent.
- 1995
UPN begins broadcasting
[1]Viacom and Chris-Craft launch the UPN broadcast network.
- 1994
Paramount Communications acquisition
[1]Viacom acquires Paramount Communications, adding Paramount Pictures and related assets.
- 1987
National Amusements acquires control
[1]Sumner Redstone's National Amusements becomes Viacom's controlling shareholder.
- 1986
MTV Networks joins Viacom
[1]Viacom acquires MTV Networks and gains MTV, VH1 and Nickelodeon.
- 1976
Showtime launches
[1]Viacom launches the Showtime pay-television movie service with Warner-Amex as a partner.
- 1971
Viacom becomes independent
[1]The company is spun off from CBS and begins operating as Viacom.
- 1967
Renamed CBS Enterprises
[1]The business changes its name to CBS Enterprises.
- 1958
Renamed CBS Films
[1]The syndication operation adopts the CBS Films name.
Products and positioning
A diversified, acquisition-led American entertainment conglomerate combining film and television production, broadcast and cable networks, program distribution, radio, video retail, publishing and intellectual-property licensing.
Program distribution · 1952
Television syndication
Television distribution was Viacom's foundational activity. The company distributed CBS series and other programs to broadcasters during the 1970s and 1980s, later expanding into program acquisition, production and international distribution.
Pay television network · 1976
Showtime
Showtime was launched as a premium movie channel in 1976. After initially operating with Warner-Amex, Viacom reacquired the service and combined it with The Movie Channel, creating a significant pay-television platform within the company's cable portfolio.
Cable television networks · 1986
MTV Networks
Acquired in 1986, MTV Networks brought MTV, VH1 and Nickelodeon into Viacom. The group became a central growth engine and helped establish Viacom as a major international owner of youth, music and children's television brands.
Film and television studio
Paramount Pictures
Paramount Pictures entered Viacom through the 1994 acquisition of Paramount Communications. The studio provided film production, television production, distribution capabilities and extensive entertainment libraries, becoming one of the defining assets of the later Viacom group.
Cable television network · 2001
BET
Viacom acquired BET Holdings in 2001. The Black Entertainment Television network was subsequently organized as BET Networks rather than remaining inside MTV Networks, reflecting its distinct brand and organizational identity.
Broadcast television network · 1995
UPN
UPN was launched in January 1995 by Viacom and Chris-Craft Industries. Viacom used Paramount's production and station resources to support the network, which operated as part of the company's broadcast strategy until the later corporate restructuring of its television assets.
Video rental · 1994
Blockbuster Video
Viacom acquired Blockbuster in 1994, adding a large video-rental and home-entertainment retail network. Viacom later disposed of its interest through a separation completed in 2004.
Brand decisions
2005
Separate the company into two businessesStrategyBackground
Management cited differing growth profiles, succession planning and internal leadership tensions as factors behind the proposed separation.
Action taken
The board approved a transaction creating CBS Corporation as the legal successor and a newly formed Viacom focused on Paramount, MTV Networks, BET Networks and related entertainment assets.
Aftermath
The split took effect on December 31, 2005, ending the first Viacom's existence as an independent company.
2000
Acquire CBS CorporationM&ABackground
Viacom pursued a reunion with the company from which its syndication business had originally been separated.
Action taken
Viacom completed its acquisition of CBS Corporation in May 2000.
Aftermath
The combined company gained CBS broadcasting and production assets, King World Productions, Eyemark Entertainment and additional cable networks.
announced transaction value. $35.9 billion (Announcement in 1999; transaction completed in 2000)
1994
Acquire Paramount CommunicationsM&ABackground
Viacom sought to become a broader entertainment company with ownership of a major film studio, television libraries and broadcast assets.
Action taken
It completed the acquisition of Paramount Communications, formerly Gulf+Western.
Aftermath
The transaction made Viacom one of the world's largest entertainment companies and supplied assets used in the development of UPN.
Recent events
Reported
Hainan cultural investment company and Jinhengde sign strategic cooperation agreement involving Viacom projects[2]
Hainan Cultural Investment Management Co. and Jinhengde Group signed a strategic cooperation agreement to pursue the introduction of Viacom Group and advance cultural and tourism projects, including a proposed Viacom-themed resort in Hainan.
Viacom announces acquisition of remaining stake in Super Broadcast[3]
Viacom International Media Networks, a division of Viacom, announced the acquisition from De Agostini Editore of the remaining 50 percent of Super Broadcast, which owns and operates the Italian free-to-air channel Super!.
Reported
Viacom acquires exclusive cable rights to Seinfeld[4]
Viacom bought the exclusive cable rights to the sitcom Seinfeld from Sony Pictures Television. The terms of the deal were not disclosed.
Sources4 sources
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