Ownership of Viacom and ViacomCBS: An Update

Viacom, a significant player in the media and entertainment industry, recently underwent a major transformation. This article provides an updated view on its ownership, highlighting key ownership structures and the roles of leading parties involved. We will explore the history, current ownership, and key players in the industry.

Formation of Paramount Global

As of my last update in August 2023, Viacom is part of Paramount Global, which was formed from the merger of Viacom and CBS Corporation in 2019. This merger created a media conglomerate that encompasses various entertainment and media assets, including television networks like CBS, MTV, Nickelodeon, and Paramount Pictures. Paramount Global is a publicly traded company, meaning its shares are traded on stock exchanges, making it accessible to its shareholders. The CEO of Paramount Global is Bob Bakish, who leads the organization towards achieving its strategic goals.

From a financial perspective, the ownership of Paramount Global is complex, involving various stakeholders. However, one significant player in the ownership structure is National Amusements, a private company that holds controlling stock in Paramount Global. This tight grip on the company's ownership highlights the importance of National Amusements in the media and entertainment landscape.

National Amusements and the Redstone Family

National Amusements is owned by the Redstone family, a prominent group in the media industry. Led by Sumner Redstone, the founding father of Viacom, and his daughter Shari Redstone, this family plays a critical role in the ownership and management of National Amusements. The Redstone family's influence extends beyond National Amusements, as they also own a chain of movie theaters in the United States and the United Kingdom.

The relationship between National Amusements and the Redstone family is further illustrated by their intertwining with the Viacom and CBS Corporation entities. In 2000, Viacom acquired CBS, and in 2006, Viacom and CBS were split into separate corporations. This separation saw National Amusements owning controlling shares of both companies. It was only in 2019 when they merged once more, giving birth to ViacomCBS.

The Original Viacom and Its Spin-off

The saga of Viacom dates back to 1971, when the original Viacom unit was spun off from CBS. The Redstone family through their National Amusements unit played a crucial role in this historical spin-off. They acquired this original Viacom unit in 1986, shortly after Viacom purchased Warner AMEX, which included MTV and Nickelodeon. This strategic move further consolidated the Redstone family's control over key media assets.

The current Viacom, which was founded in 1971, was spun off from the original Viacom, with the former renaming itself as CBS Corporation on December 31, 2005. The original Viacom, meanwhile, remains a privately-owned chain of movie theaters, underscoring the intricate and far-reaching ownership networks within the media industry.

Conclusion

The ownership landscape of Viacom and ViacomCBS is complex and layered, involving various stakeholders including the Redstone family and National Amusements. This detailed history and current ownership structure provide a clearer picture of the media and entertainment industry's dynamics. Understanding these ownerships is crucial for anyone interested in the business operations and strategic decisions of these media giants.

Keywords: Viacom, ViacomCBS, National Amusements