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Encyclopedia > Viacom International
Viacom Inc.
Viacom logo
Type Public (NYSE: VIAB)
Sumner Redstone, through National Amusements, owns a controlling amount of voting shares
Founded 2006[1]
Headquarters New York, New York, USA
Key people Sumner Redstone, Executive Chairman & Founder
Philippe Dauman, President & CEO
Industry Cable TV, Motion Pictures
Products MTV, Nickelodeon, BET, more...
Revenue $9.609 Billion USD (2005)
Net income $1.256 Billion USD (2005)
Employees 9,500 (2006)
Website www.viacom.com

Viacom (NYSE: VIA) (NYSE: VIAb) is an American media conglomerate with various worldwide interests in cable and satellite television networks (MTV Networks and BET), and movie production and distribution (the Paramount Pictures movie studio and DreamWorks). Philippe Dauman is the President and Chief Executive Officer (his appointment was announced on Tuesday, September 6, 2006 — after Tom Freston's surprise resignation); Sumner Redstone is the Chairman and, through National Amusements, majority shareholder of Viacom. The new Viacom is considered to be the "high-growth" side of the much larger former Viacom. Image File history File links Viacom_logo_2006. ... A public company is a company owned by the public rather than by relatively few individuals. ... This article is about the stock exchange itself. ... Sumner Murray Redstone (born Sumner Murray Rothstein on May 27, 1923 in Boston, Massachusetts) is Chairman of the Board and controlling shareholder of the Viacom and CBS Corporation media conglomerates, and is also the majority owner of Midway Games and is the owner of the National Amusements theater chain. ... National Amusements is a chain of movie theaters spanning 1,300 screens, mainly in the New England and Mid-Atlantic areas of the United States. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Midtown Manhattan, looking north from the Empire State Building, 2005 New York City (officially named the City of New York) is the most populous city in the state of New York and the entire United States. ... Sumner Murray Redstone (born Sumner Murray Rothstein on May 27, 1923 in Boston, Massachusetts) is Chairman of the Board and controlling shareholder of the Viacom and CBS Corporation media conglomerates, and is also the majority owner of Midway Games and is the owner of the National Amusements theater chain. ... Philippe Dauman is a corporate director of the Viacom and CBS Corporations. ... Cable television or Community Antenna Television (CATV) (and often shortened to cable) is a system of providing television, FM radio programming and other services to consumers via radio waves transmitted directly to people’s televisions through fixed coaxial cables as opposed to the over-the-air method used in... This article is about motion pictures. ... MTV (Music Television) is an American cable television network headquartered in New York City. ... This article is about the TV channel. ... Black Entertainment Television is an American cable network targeted toward African-American audiences in the United States. ... Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ... Image File history File links Green_Arrow_Up. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... Image File history File links Green_Arrow_Up. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... Employment is a contract between two parties, one being the employer and the other being the employee. ... A website (or Web site) is a collection of web pages, typically common to a particular domain name or subdomain on the World Wide Web on the Internet. ... This article is about the stock exchange itself. ... This article is about the stock exchange itself. ... It has been suggested that Media Institution be merged into this article or section. ... Coaxial cable is often used to transmit cable television into the house. ... Artists impression of a Boeing 601 satellite, as configured for digital television transmission by SES Astra Satellite television is television delivered by way of communications satellites, as compared to conventional terrestrial television and cable television. ... MTV Networks is a division of media conglomerate Viacom that oversees the operation of many TV network and Internet brands. ... Black Entertainment Television is an American cable network targeted toward African-American audiences in the United States. ... A movie studio is a location, room, building, or group of buildings and/or sound stages, offices and storage facilities, which may include a backlot, where movies are made. ... Paramount Pictures Corporation is an American motion picture production and distribution company, based in Hollywood, California. ... A movie studio is a controlled environment for the making of a film. ... DreamWorks SKG (also known as DreamWorks Pictures) is one of the major American film studios which develops, produces, and distributes films, video games, and television programming. ... Philippe Dauman is a corporate director of the Viacom and CBS Corporations. ... Abraham Lincoln, 16th President of the United States (1861-1865) The majority of this article is about heads of states. ... A Chief Executive Officer (CEO), or Chief Executive, is the highest-ranking corporate officer, administrator, corporate administrator, executive, or executive officer, in charge of total management of a corporation, company, organization or agency. ... Thomas E. Freston (born 22 November 1945) is an American television executive most recently serving as President and Chief Executive Officer of the newly-split Viacom, until his resignation on September 5, 2006. ... Sumner Murray Redstone (born Sumner Murray Rothstein on May 27, 1923 in Boston, Massachusetts) is Chairman of the Board and controlling shareholder of the Viacom and CBS Corporation media conglomerates, and is also the majority owner of Midway Games and is the owner of the National Amusements theater chain. ... For other uses of chair, see chair (disambiguation). ... National Amusements is a chain of movie theaters spanning 1,300 screens, mainly in the New England and Mid-Atlantic areas of the United States. ... A shareholder or stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. ...


The former Viacom was renamed CBS Corporation, from which this firm was split off on December 31, 2005. CBS, not Viacom, retains control of the over-the-air broadcasting, TV production, and publishing assets formerly owned by the larger company. However, National Amusements remains the common majority shareholder of both firms. CBS Corporation (NYSE: CBS) is an American media conglomerate focused on broadcasting, publishing, billboards, and television production, with most of its operations in the United States. ... December 31 is the 365th day of the year (366th in leap years) in the Gregorian Calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...

Contents

History

In March 2005, the prior Viacom (now known as CBS Corporation) announced plans of looking into splitting the company into two publicly traded companies. The company was not only dealing with a stagnating stock price, but also the rivalry between Leslie Moonves and Tom Freston, longtime heads of CBS and MTV Networks respectively. After the departure of Mel Karmazin in 2004, Redstone, who served as Chairman and Chief Executive Officer, decided to split the offices of President and Chief Operating Officer between Moonves and Freston. Redstone was set to retire in the near future, and a split would be a creative solution to the matter of replacing him. Viacom (pronounced with a long i as in eye) began life as CBS Films, the television syndication division of CBS. In 1971, the division was renamed VIACOM (Video & Audio Communications), and in 1973 it was spun off, amid new FCC rules forbidding television networks from owning syndication companies (the rules... Leslie Moonves (born December 23, 1948 in New York City) is President and Chief Executive Officer of CBS Corporation. ... Thomas E. Freston (born 22 November 1945) is an American television executive most recently serving as President and Chief Executive Officer of the newly-split Viacom, until his resignation on September 5, 2006. ... CBS is derived from an abbreviation of Columbia Broadcasting System, the former legal name of a company Westinghouse Electric Corporation acquired in 1995. ... MTV Networks is a division of media conglomerate Viacom that oversees the operation of many TV network and Internet brands. ... Melvin Alan Mel Karmazin, a native New Yorker, (born August 24, 1943)[1] is an executive who has held several top jobs in the broadcasting industry and is currently CEO of Sirius Satellite Radio. ... For other uses of chair, see chair (disambiguation). ... A Chief Executive Officer (CEO), or Chief Executive, is the highest-ranking corporate officer, administrator, corporate administrator, executive, or executive officer, in charge of total management of a corporation, company, organization or agency. ... Abraham Lincoln, 16th President of the United States (1861-1865) The majority of this article is about heads of states. ... A Chief Operating Officer (COO) is a corporate officer responsible for managing the day-to-day activities of the corporation. ...


The split was approved by Viacom's board June 14, 2005, approved December 31, 2005, and effectively undid the Viacom/CBS merger of 1999. The original Viacom changed its name to CBS Corporation and is headed by Moonves. It now includes Viacom's "slow growth businesses", namely CBS, The CW (formerly The WB and UPN), CBS Radio, Simon & Schuster, CBS Outdoor, Showtime, CBS Records, CBS Paramount Television and most television production assets. These, according to some analysts, were suffocating the growth of the MTV Networks cable businesses. (The split was structured such that CBS Corporation is actually the company previously known as Viacom.) At the time of the split, CBS Corporation was also given control of Paramount Parks. CBS sold Paramount Parks to amusement parks management company Cedar Fair, L.P. on June 30, 2006. June 14 is the 165th day of the year in the Gregorian calendar (166th in leap years), with 200 days remaining. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... December 31 is the 365th day of the year (366th in leap years) in the Gregorian Calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... CBS Corporation (NYSE: CBS) is an American media conglomerate focused on broadcasting, publishing, billboards, and television production, with most of its operations in the United States. ... CBS is derived from an abbreviation of Columbia Broadcasting System, the former legal name of a company Westinghouse Electric Corporation acquired in 1995. ... The Crimson White, known colloquially as The CW, is the student-run newspaper of the University of Alabama. ... The WB Television Network, casually referred to as The WB, the acronym for Warner Brothers, or sometimes as The Frog (referring to the networks former mascot, the animated character Michigan J. Frog), was a television network in the United States, founded as a joint venture between the Warner Bros. ... UPN (which originally stood for the United Paramount Network) was a television network in over 200 markets in the United States. ... CBS Radio Inc. ... Jean-François Millet Le Semeur (The Sower) Simon & Schuster logo, circa 1961. ... CBS Outdoor is the outdoor advertising division of media conglomerate CBS Corporation. ... Showtime is a subscription television brand used by a number of channels and platforms around the world, but primarily refers to a group of channels in the United States. ... Columbia Records is the oldest continually used brand name in recorded sound, dating back to 1888. ... CBS Paramount Television (formerly Desilu Productions, Paramount Television, among other companies) is an American television production/distribution company that was formed on January 17, 2006 by CBS Corporation. ... Paramount Parks is an operator of theme parks and attractions, which annually attract about 13 million patrons. ... Ferris wheel Amusement park is the more generic term for a collection of amusement rides and other entertainment attractions assembled for the purpose of entertaining a fairly large group of people. ... Cedar Fair, L.P. NYSE: FUN is a publicly-traded company that owns and operates amusement parks in North America. ... June 30 is the 181st day of the year (182nd in leap years) in the Gregorian Calendar, with 184 days remaining. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...


A new company, the present Viacom, was also spun-off and was headed by Freston. It is comprised of MTV Networks, BET Networks, Paramount's movie studio, and Paramount Pictures' home entertainment operations. These businesses are categorized as the high-growth businesses (MTV Networks and BET Networks in particular), and if they were split into a separate company, it could infuse new capital to allow for future acquisitions and expansion. Sumner Redstone still controls 71 percent of the voting stock of both companies and is the chairman of both companies.


In June 2005, Viacom announced its purchase of Neopets, a virtual pet website. That December, Paramount announced it would acquire DreamWorks. All indications are that the whole of DreamWorks - both film and TV studios, albeit not the DreamWorks archive - which was sold to a group led by George Soros in March 2006 - (nor the animated unit, which was not part of the deal) will remain owned by Viacom, even though CBS acquired Paramount's own TV studio. On February 1, 2006, Paramount completed its long-awaited acquisition of DreamWorks. As of April 24, 2006, Viacom has obtained Xfire. In September 2006, Viacom acquired game developer Harmonix for $175 million dollars. Screenshot of the Neopets homepage viewed with Internet Explorer Neopets is an online virtual pet game. ... DreamWorks SKG (also known as DreamWorks Pictures) is one of the major American film studios which develops, produces, and distributes films, video games, and television programming. ... ... The DreamWorks Animation logo, an angling boy sitting on the Moons crescent (based upon the more sophisticated DreamWorks Pictures logo) DreamWorks Animation SKG (NYSE: DWA) is an American animation studio, producing primarily feature animated films. ... February 1 is the 32nd day of the year in the Gregorian Calendar. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... April 24 is the 114th day of the year in the Gregorian Calendar (115th in leap years). ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Xfire is a freeware instant messaging service targeted toward gamers, that also serves as a game server browser. ... Harmonix is a game developer for the PlayStation 2. ...


As with the old Viacom, the current company owns a subsidiary, Viacom International Inc., which is the formal owner of copyrights associated with Viacom's corporate website and its cable networks.


In August 2006, just hours before announcing its most recent quarterly earnings, Viacom announced that it had acquired Atom Entertainment for $200 million. This deal came after a barrage of online acquisitions, including NeoPets, iFilm and Xfire. iFilm is an online archive of short films, movie trailers, and other video clips of interest. ... Xfire is a freeware instant messaging service targeted toward gamers, that also serves as a game server browser. ...


Corporate governance

The previous board of directors of Viacom were George Abrams, Vincent Erazo, David Andelman, Joseph Califano, Jr., William Cohen, Philippe Dauman, Alan Greenberg, Charles Phillips, Shari Redstone, Sumner Redstone, Frederic Salerno, William Schwartz, and Robert D. Walter. In relation to a company, a director is an officer of the company charged with the conduct and management of its affairs. ... George Abrams is a corporate director of the Viacom Corporation. ... Vincent Erazo was a previous director of the Viacom Company. ... David A. Andelman is an executive editor at Forbes. ... Joseph Anthony Califano, Jr. ... William Sebastian Cohen (1940- ) is an author and American politician from the U.S. state of Maine. ... Philippe Dauman is a corporate director of the Viacom and CBS Corporations. ... Viacom is a high-growth media conglomerate with various worldwide interests in cable and satellite television networks (MTV Networks and BET), video gaming (part of Sega of America), and movie production and distribution (the Paramount Pictures movie studio and DreamWorks). ... Charles Phillips is President of Oracle Corporation and a member of the companys Board of Directors. ... Shari Redstone is a corporate director of the CBS and Viacom companies. ... Sumner Murray Redstone (born Sumner Murray Rothstein on May 27, 1923 in Boston, Massachusetts) is Chairman of the Board and controlling shareholder of the Viacom and CBS Corporation media conglomerates, and is also the majority owner of Midway Games and is the owner of the National Amusements theater chain. ... Frederic Salerno is a corporate director of the Viacom Corporation. ... William Schwartz is a corporate director of the Viacom Corporation. ... In 1971 an ambitious 26-year-old Harvard MBA named Robert D. Walter purchased Cardinal Foods, a small Ohio food wholesaler, in a leveraged buyout. ...


Following the Viacom/CBS split, the Viacom board consisted of George Abrams, Philippe Dauman, Thomas E. Dooley, Tom Freston, Ellen V. Futter, Robert Kraft, Alan Greenberg, Charles Phillips, Sumner Redstone (Chairman), Shari Redstone (non-executive Vice-Chair), Frederic Salerno, and William Schwartz. George Abrams is a corporate director of the Viacom Corporation. ... Philippe Dauman is a corporate director of the Viacom and CBS Corporations. ... Thomas E. Dooley is a corporate director of the Viacom Corporation. ... Thomas E. Freston (born 22 November 1945) is an American television executive most recently serving as President and Chief Executive Officer of the newly-split Viacom, until his resignation on September 5, 2006. ... Ellen V. Futter is President of the American Museum of Natural History. ... Robert Kraft Robert K. Kraft, (born June 5, 1941 in Brookline, Massachusetts) is the owner of National Football Leagues New England Patriots and Major League Soccers New England Revolution, as well as the stadium where they play, Gillette Stadium. ... Viacom is a high-growth media conglomerate with various worldwide interests in cable and satellite television networks (MTV Networks and BET), video gaming (part of Sega of America), and movie production and distribution (the Paramount Pictures movie studio and DreamWorks). ... Charles Phillips is President of Oracle Corporation and a member of the companys Board of Directors. ... Sumner Murray Redstone (born Sumner Murray Rothstein on May 27, 1923 in Boston, Massachusetts) is Chairman of the Board and controlling shareholder of the Viacom and CBS Corporation media conglomerates, and is also the majority owner of Midway Games and is the owner of the National Amusements theater chain. ... Shari Redstone is a corporate director of the CBS and Viacom companies. ... Frederic Salerno is a corporate director of the Viacom Corporation. ... William Schwartz is a corporate director of the Viacom Corporation. ...


As of September 5, 2006 Tom Freston has resigned from the company. He is replaced by Philippe P. Dauman. September 5 is the 248th day of the year (249th in leap years). ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Thomas E. Freston (born 22 November 1945) is an American television executive most recently serving as President and Chief Executive Officer of the newly-split Viacom, until his resignation on September 5, 2006. ...


Assets

This is a summary of the main Viacom divisions. For detailed assets see List of assets owned by Viacom. The following is a list of major assets owned by Viacom: Radio Networks Infinity Broadcasting (manages Westwood One Radio Network) Metro Networks Radio Stations Infinity Broadcasting (owns and operates over 180 stations) Internet MTVi Group CBS Internet Group Nickelodeon Online BET.com Contentville. ...

Paramount Pictures Corporation is an American motion picture production and distribution company, based in Hollywood, California. ... DreamWorks SKG (also known as DreamWorks Pictures) is one of the major American film studios which develops, produces, and distributes films, video games, and television programming. ... Republic Pictures Corporation (aka Republic Entertainment) is an independent film, television, and video distribution company that was originally a movie production-distribution corporation with studio facilities, best known for its specialization in quality B pictures, westerns and movie serials. ... MTV Films is the motion picture production arm of cable channel MTV. Originally founded in 1995, it has produced films based on MTV programs such as Beavis and Butt-head Do America and Jackass: The Movie, as well as other adaptations and original projects. ... The Nickelodeon Movies logo from 2000-present. ... Go Fish Pictures is the specialty film division of the DreamWorks SKG film studio, which is owned by Paramount Pictures, itself a subsidiary of Viacom. ... Comedy Central is a cable television and satellite television channel in the United States and as of January 15, 2007, in Germany[1]. In the course of 2007, Dutch channel The Box will be transformed into the Dutch version of Comedy Central. ... Black Entertainment Television is an American cable network targeted toward African-American audiences in the United States. ... This article does not cite its references or sources. ... TV Land is an American cable television network which first started transmissions on April 29, 1996. ... MTV (Music Television) is an American cable television network headquartered in New York City. ... VH1 (VH-1: Video Hits One until 1994) is an American cable television channel that was created in January 1985 by Warner-Amex Satellite Entertainment, at the time a division of Warner Communications and owners of MTV. It and sister channel MTV are currently part of the MTV Networks division... MTV2 is a cable network that is widely available in the United States on digital cable and satellite television, and is progressively being added to basic cable lineups across the nation. ... Country Music Television, or CMT as it usually called, is an American country music oriented cable television channel. ... This article is about the TV channel. ... DreamWorks SKG (also known as DreamWorks Pictures) is one of the major American film studios which develops, produces, and distributes films, video games, and television programming. ... Xfire is a freeware instant messaging service targeted toward gamers, that also serves as a game server browser. ... Harmonix is a game developer for the PlayStation 2. ...

Footnote

  1. ^ Although Viacom was originally founded in 1971 (split from the original CBS Corporation), it was reincorporated in 1986, and the current Viacom was spun off (re-founded) from CBS Corporation (which is, formally, the 1986 Viacom renamed) on January 1, 2006.

1986 (MCMLXXXVI) was a common year starting on Wednesday of the Gregorian calendar. ... January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

See also

This article or section is not written in the formal tone expected of an encyclopedia article. ... Viacom (pronounced with a long i as in eye) began life as CBS Films, the television syndication division of CBS. In 1971, the division was renamed VIACOM (Video & Audio Communications), and in 1973 it was spun off, amid new FCC rules forbidding television networks from owning syndication companies (the rules...

External links


  Results from FactBites:
 
Viacom - Wikipedia, the free encyclopedia (1604 words)
Viacom made large amounts of money during the 1970s and 1980s distributing old CBS classics to syndication, including such landmark shows as I Love Lucy, The Andy Griffith Show and All in the Family (which was owned by Embassy/Columbia Pictures Television).
Viacom also received Showtime Networks, Inc. (which included Showtime and The Movie Channel), which has retained its original name, Showtime Networks, Inc. In 1986, Viacom was bought by movie theater owner National Amusements, which brought Sumner Redstone to the company.
Viacom themes, a YTMND of Viacom's closing logo themes (The V of Doom's is the second one.).
Sample Contracts and Business Forms - Initial Public Offering and Split-Off Agreement - Viacom Inc., Viacom ... (3942 words)
Viacom shall, in its sole and absolute discretion, determine whether to proceed with all or part of the Split-Off and all terms of the Split-Off, including, without limitation, the form, structure and terms of any transaction(s) and/or offering(s) to effect the Split-Off and the timing of and conditions to the consummation of the Split-Off.
Viacom and Blockbuster agree to provide to each other all ------- information that the other party reasonably requests in connection with any Public Filings or that, in the judgment of either party's, is required to be disclosed or incorporated by reference therein under any law, rule or regulation.
The Nonvoting Stock Option may be exercised by Viacom International for a number of shares equal to or less than the number of shares that are necessary for the Viacom International to own, in the aggregate, 80 percent of each class of outstanding Nonvoting Stock.
  More results at FactBites »

 
 

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