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Viacom (2005–2019)

This article is about the media conglomerate in operation from 2005 to 2019. For the previous incarnation of the company, see Viacom (1952–2006).

The second incarnation of Viacom Inc. ( or ; a portmanteau of Video & Audio Communications) was an American multinational mass media conglomerate with interests primarily in film and television, which was formed as a spin-off of the original Viacom on December 31, 2005. It was one of two companies which succeeded the first 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.

Viacom Inc.
Viacom's headquarters at One Astor Plaza in New York City
TypePublic
IndustryMass media
PredecessorsViacom (1952–2006)
Gulf and Western Industries
Paramount Communications
Warner-Amex Satellite Entertainment
FoundedDecember 31, 2005; 15 years ago (2005-12-31)
FounderSumner Redstone
DefunctDecember 4, 2019; 23 months ago (2019-12-04)
FateMerged with CBS Corporation to form ViacomCBS
SuccessorViacomCBS
Headquarters
Area served
Worldwide
Key people
Products
RevenueUS$12.838 billion (2019)
US$2.462 billion (2019)
US$1.522 billion (2019)
Total assetsUS$23.671 billion (2019)
Total equityUS$8.520 billion (2019)
OwnerNational Amusements (80% voting power)
Number of employees
11,200 (2017)
Divisions
Subsidiaries
Websitewww.viacom.com (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. 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. 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.

The second merger between Viacom and CBS Corporation, creating the combined ViacomCBS company, was announced on August 13, 2019; the merger was completed on December 4, 2019.

Contents

Early years

In March 2005, the first Viacom announced plans of exploring the option of splitting the company into two publicly traded companies because of a stagnating stock price and the rivalry between Les Moonves and Tom Freston, longtime heads of CBS and MTV Networks, respectively. Also, the company was facing issues after MTV was banned from producing any more Super Bowl halftime shows after the Super Bowl Halftime Show controversy in 2004.

After the departure of Mel Karmazin in 2004, Sumner 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 was seen as a creative solution to the matter of replacing him. It was also intended to provide alternative investments that would be more appealing to investors: one a high cash flow, lower growth company that could afford to pay a substantial dividend and the other a growing company that would have greater investment opportunities and therefore would not be expected to pay a dividend.

The second Viacom, was created and headed by Freston. It consists BET Networks, MTV Networks, and Paramount Pictures.

2000s

Old separate Viacom logo (1990–2006)

In June 2005, Viacom announced its purchase of Neopets, a virtual pet website, along with GameTrailers, GoCityKids, and iFilm. That December, Paramount announced it would acquire DreamWorks Pictures. All indications were that the whole of DreamWorks—both live-comedy film and television 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)—would remain owned by Viacom, even though CBS acquired Paramount's television studio.

In February 2006, Paramount completed the acquisition of DreamWorks. On April 24, Viacom obtained Xfire. In August, Viacom announced that it had acquired Atom Entertainment for $200 million. In September, Viacom acquired game developer Harmonix for $175 million.

In February 2007, Viacom ordered leaked copyrighted video clips be taken off the video-sharing service YouTube for copyright reasons. On February 21, Viacom publicly announced they would be offering free online access to their material through Silicon Valley's distributor Joost.

On May 21, 2007, Viacom entered into a 50–50 joint venture with Indian media company Network 18 to form Viacom 18 which would house Viacom's existing channels in India: MTV, VH1 and Nickelodeon as well as Network 18's Bollywood movie business. All future Viacom content for India and new ventures such as a Hindi entertainment channel and a Hindi movie channel would be housed in this joint venture.

On December 19, 2007, Viacom signed a five-year, $500 million contract with Microsoft that included content sharing and advertisement. The deal allowed Microsoft to license many shows from Viacom owned cable television and film studios for use on Xbox Live and MSN. The deal also made Viacom a preferred publisher partner for casual game development and distribution through MSN and Windows. On the advertisement side of the deal, Microsoft's Atlas ad-serving division became the exclusive provider of previously unsold advertising inventory on Viacom owned websites. Also, Microsoft purchased a large amount of advertising on Viacom owned broadcasts and online networks. Finally, Microsoft would also collaborate on promotions and sponsorships for MTV and BET award shows, two Viacom-owned cable networks.

On December 4, 2008, Viacom announced layoffs of 850 personnel, or 7% of their workforce. At the end of the year, Time Warner Cable (along with partner Bright House Networks) and Viacom's MTV Networks could not come to terms for the renewal of any Viacom channel beyond the end of year. Time Warner Cable's operations include New York City and Los Angeles, with Bright House including the Tampa Bay and Orlando markets, both top-20 markets. This blackout was narrowly avoided when a zero-hour deal was reached shortly after midnight on January 1, 2009.

On December 7, 2009, Viacom sold its stake in MTV Brasil to Grupo Abril along with rights to the brand. Details on the deal were not disclosed.

2010s

In February 2011, Hulu and Viacom announced the return of The Daily Show with Jon Stewart and The Colbert Report to Hulu, along with shows from the Viacom library. Nickelodeon's shows are not part of this deal. Also that month, Viacom became a co-owner of Rainbow S.p.A., an Italian television studio best known for the Winx Club franchise. Since the purchase, Viacom's Nickelodeon networks have broadcast Rainbow's shows worldwide. Nickelodeon's American studios have also collaborated with Rainbow on multiple productions, including Winx Club and Club 57.

Later, in October 2011, Viacom purchased a majority stake in Bellator Fighting Championships. Spike TV started to air Bellator in 2013, after the rights to the UFC (Ultimate Fighting Championship) library ended in 2012.

On December 1, 2011, the company stopped trading on the New York Stock Exchange (NYSE) and began listing its securities on Nasdaq instead. The stock ticker symbols are the same as that used while the company was on the NYSE.

On July 10, 2012, during contract negotiations over raising carrier rates the U.S. satellite TV provider, DirecTV's executives approached Viacom with a new proposal and a request to continue broadcasting 17 of Viacom's television networks (including Nickelodeon, MTV, Logo, and Comedy Central) during talks, but received no response and thus Viacom ceased transmission to DirecTV's 20 million subscribers. On July 11, in a counter response to DirecTV advising its subscribers to view original programming from the affected networks online, Viacom scaled back access to recent episodes of Viacom-owned program content available to the websites of its networks. Viacom described this as a "temporary slimdown" until a new carriage deal with DirecTV was reached. Viacom and DirecTV reached an agreement on July 20 to return the interrupted programming. In 2012 CEO Phillip Dauman began to report Viacom's intentions to bundle past programming and make it available on-demand via services like Hulu.

On January 22, 2014, Viacom established a marketing division, Viacom Velocity.

On April 1, 2014, Cable One removed 15 channels owned by Viacom (MTV, VH1, Nickelodeon, and TV Land) off after the two companies failed to reach an agreement. Channels were replaced with other networks, including BBC America, Sprout, Sundance TV, IFC, Investigation Discovery, TV One, CMP/TV, National Geographic Channel, and TheBlaze. The change has been deemed permanent.

On May 1, 2014, Viacom announced it had agreed to take over the British broadcaster Channel 5 from Northern & Shell, the media group owned by the British newspaper publisher Richard Desmond. Viacom becomes the first American media company to take over a British broadcaster with a public service remit. The purchase of Channel 5 closed on September 10, 2014.

On October 1, 2014, Suddenlink Communications, removed channels owned by Viacom off after the two companies failed to reach an agreement. Channels were replaced with other networks including Sprout, FXX, Pivot, Uplifting Entertainment, Investigation Discovery, Oprah Winfrey Network, Women's Entertainment, and TheBlaze.

On August 20, 2016, a settlement between Sumner and Shari Redstone and Philippe Dauman was reached that would have him resign as chief executive officer and be replaced with Thomas E. Dooley as interim CEO. Dauman would continue to serve as chairman until September 13. On May 25, 2017, Viacom channels returned to Suddenlink after nearly 3 years of absence.

In November 2016, Viacom bought Argentine television network Telefe. In December 2016, the Viacom board appointed Bob Bakish as acting CEO. His appointment as president and CEO was made permanent on December 12, 2016.

In November 2017, Viacom announced the opening of a new digital content division named Viacom Digital Studios. The company has hired former AwesomenessTV chief business officer Kelly Day to lead the studio. Day began her duties on November 20. In February 2018, Viacom announced their plans to acquire the internet video conference VidCon in an effort to reach out to youth audiences (in a similar way to Viacom's Nickelodeon and MTV channels).

In the same month, Viacom announced that they would launch an official Viacom streaming service in fall 2018, in another effort by Bakish to revitalize the company. This streaming service would support ads (similar to Hulu) and was expected to include television series from Viacom Media Networks that have not been available on other services, such as Hulu or Amazon Prime Video. Bakish has stated that the streaming service would serve as a "complement" to OTT MVPDs, rather than a replacement.

In April 2018, Viacom hosted its first presentation at the annual Digital Content NewFronts, where they announced new original content for sites such as Facebook, Twitter, and Snapchat. They also announced the expansion of VidCon to London in 2019 at the same conference.

On July 25, 2018, Viacom announced that it was in talks to acquire AwesomenessTV for a fraction of the company's $650 million valuation in 2016. Two days later on July 27, Viacom officially acquired the company for $25 million. Jordan Levin would leave his position as CEO of AwesomenessTV following the acquisition. In January 2019, it was announced that Viacom has acquired Internet television streaming service, Pluto TV for $340 million.

Re-merger deal with CBS

Further information: 2019 merger of CBS and Viacom

On September 29, 2016, National Amusements sent a letter to Viacom and CBS Corporation, encouraging the two companies to merge back into one company. On December 12, the deal was called off.

On January 12, 2018, CNBC reported that Viacom had re-entered talks to merge back into CBS Corporation after the AT&T-Time Warner merger was planned, as well as Disney's proposed acquisition of most 21st Century Fox assets and heavy competition from companies such as Netflix and Amazon. Shortly afterward, it was reported that the combined company could be a suitor for acquiring the film studio Lionsgate. Viacom and Lionsgate were both interested in acquiring The Weinstein Company in the wake of sexual abuse allegations against Harvey Weinstein. Viacom was listed as one of 22 potential buyers that were interested in acquiring TWC. They lost the bid, and on March 1, 2018, it was announced that Maria Contreras-Sweet would acquire all of TWC's assets for $500 million.

On March 30, 2018, CBS made an all-stock offer slightly below Viacom's market value and insisted that its existing leadership, including long-time chairman and CEO Les Moonves, oversee the re-combined company. Viacom rejected the offer as being too low, requesting an increase of $2.8 billion, and requesting that Bob Bakish be maintained as president and COO under Moonves. It was reported that these conflicts had resulted from Shari Redstone seeking more control over CBS and its leadership.

Eventually, on May 14, 2018, CBS Corporation sued its and Viacom's parent company National Amusements and accused Redstone of abusing her voting power in the company and forcing a merger that was not supported by CBS or Viacom. CBS also accused Redstone of discouraging Verizon Communications from acquiring it, which could have been beneficial to its shareholders.

On May 23, 2018, Les Moonves stated that he considered the Viacom channels to be an "albatross," and while he favored more content for CBS All Access, he believed that there were better deals for CBS than the Viacom deal, such as Metro-Goldwyn-Mayer, Lionsgate or Sony Pictures. Moonves also considered Bakish a threat because he did not want an ally of Redstone as a board member of the combined company.

On September 9, 2018, Moonves left CBS after being accused by twelve women of sexual assault. National Amusements agreed to not propose a CBS-Viacom merger for at least two years after the date of the settlement.

On May 30, 2019, CNBC reported that CBS and Viacom would explore merger discussions in mid-June 2019. CBS's board of directors was revamped with people who were open to a merger. The re-merger was made possible with the resignation of Moonves (who opposed all attempts for a Viacom merger). The talks had started following rumors of CBS acquiring Starz from Lionsgate. Reports say that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies. CBS announced to acquire Viacom as part of the re-merger deal for up to $15.4 billion.

On August 2, 2019, it was reported that CBS and Viacom agreed to merge back into one entity. Both companies came to an agreement on the management team for its merger with Bakish serving as CEO of the combined company and president and acting CEO of CBS, as Joseph Ianniello oversees the CBS-branded assets. However, on August 7, 2019, both CBS and Viacom delayed their merger announcement as the two companies reported the quarterly earnings, though the talks about the re-merger continues.

On August 13, CBS and Viacom officially announced their merger; CBS would purchase Viacom and change its name to ViacomCBS. Bakish would become president and CEO of ViacomCBS with Ianniello serving as chairman and CEO of CBS, where he would oversee the CBS-branded assets. Shari Redstone would also serve as chairwoman of the new company. On October 29, 2019, National Amusements approved the re-merger deal and expected to close the deal in early December with the recombined company trading its shares on Nasdaq under the symbols "VIAC" and "VIACA". On December 4, the deal was completed.

In February 2007, Viacom sent upwards of 100,000 Digital Millennium Copyright Act takedown notices to the video-sharing site YouTube. Of the 100,000 notices, approximately 60–70 non-infringing videos were removed under the auspices of copyright infringement.

On March 13, 2007, Viacom filed a US$1 billion legal claim (Viacom International Inc. v. YouTube, Inc.) against Google and YouTube alleging massive copyright infringement, alleging that users frequently uploaded copyrighted material to YouTube—enough to cause a hit in revenue for Viacom and a gain in advertisement revenue for YouTube. The complaint contended that almost 160,000 unauthorized clips of Viacom's programming were made available on YouTube and that these clips had collectively been viewed more than 1.5 billion times.

In July 2008, the case generated controversy when District Judge Louis Stanton ruled that YouTube was required to hand over data detailing the viewing habits of every user who had ever watched videos on the site. Judge Stanton rejected Viacom's request for YouTube to hand over the source code of its search engine system, saying that the code was a trade secret. Google and Viacom later agreed to allow Google to anonymize all the data before handing it over to Viacom.

On June 23, 2010, Judge Stanton ruled in Google's favor in a motion for summary judgment, holding that Google was protected by provisions of the Digital Millennium Copyright Act, notwithstanding evidence of intentional copyright infringement. Viacom announced its intention to appeal the ruling.

On April 5, 2012, the ruling was overturned by the United States Court of Appeals for the Second Circuit. Writing for a two-judge panel (because Judge Roger Miner had died while the trial was pending) of the Second Circuit, Judge José A. Cabranes concluded that "a reasonable jury could find that YouTube had actual knowledge or awareness of specific infringing activity on its website". Eric Goldman, a professor at the Santa Clara University School of Law, expressed concern that the ruling would negatively affect startups, by making them "more hair-trigger on taking down news or content, for fear that failure to do so will be held against them by content providers".

On April 18, 2013, Judge Stanton issued another order granting summary judgment in favor of YouTube. An appeal was begun, but the week before the parties were to appear in the 2nd U.S. Circuit Court of Appeals, a settlement was announced, and it was reported that no money changed hands. Viacom and their sister company B_Viacom have since taken to removing videos or blocked countries themselves.

The previous board of directors of Viacom were George S. Abrams, David Andelman, Joseph Califano, Jr., William Cohen, Philippe Dauman, Alan C. Greenberg, Charles Phillips, Shari Redstone, Sumner Redstone, Frederic Salerno, William Schwartz, and Robert D. Walter.

Following the Viacom/CBS split, the Viacom board consisted of George S. Abrams, Philippe Dauman, Thomas E. Dooley, Ellen V. Futter, Robert Kraft, Alan Greenberg, Charles Phillips, Sumner Redstone (Chairman), Shari Redstone (non-executive vice-chair), Frederic Salerno, and William Schwartz. As of 2010, the Board consisted of George Abrams, Philippe Dauman, Thomas E. Dooley, Alan Greenberg, Robert Kraft, Blythe McGarvie, Bob Bakish, Charles Phillips, Shari E. Redstone, Sumner Redstone, Frederic Salerno, and William Schwartz.

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  91. Stempel, Jonathan (March 18, 2014). "Google, Viacom settle landmark YouTube lawsuit". Reuters.
  92. "Viacom Inc Class A Board of Directors". insiders.morningstar.com. Archived from the original on 2018-01-30. Retrieved2018-01-29.

Viacom (2005–2019)
Viacom 2005 2019 Language Watch Edit 160 160 Redirected from Viacom 2005 present This article is about the media conglomerate in operation from 2005 to 2019 For the previous incarnation of the company see Viacom 1952 2006 The second incarnation of Viacom Inc ˈ v aɪ e k ɒ m VY e kom or ˈ v iː e k ɒ m VEE e kom a portmanteau of Video amp Audio Communications was an American multinational mass media conglomerate with interests primarily in film and television which was formed as a spin off of the original Viacom on December 31 2005 It was one of two companies which succeeded the first 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 Viacom Inc Viacom s headquarters at One Astor Plaza in New York CityTypePublicTraded asNasdaq VIA Class A Nasdaq VIAB Class B S amp P 500 Component VIAB Russell 1000 Component VIA VIAB IndustryMass mediaPredecessorsViacom 1952 2006 Gulf and Western Industries Paramount Communications Warner Amex Satellite EntertainmentFoundedDecember 31 2005 15 years ago 2005 12 31 FounderSumner RedstoneDefunctDecember 4 2019 23 months ago 2019 12 04 FateMerged with CBS Corporation to form ViacomCBS 1 SuccessorViacomCBSHeadquartersOne Astor Plaza Manhattan New York City U S Area servedWorldwideKey peopleSumner Redstone chairman emeritus Thomas J May chairman Bob Bakish president and CEO ProductsCable television radio publishing motion pictures games podcasts web portalsRevenueUS 12 838 billion 2019 2 Operating incomeUS 2 462 billion 2019 2 Net incomeUS 1 522 billion 2019 2 Total assetsUS 23 671 billion 2019 2 Total equityUS 8 520 billion 2019 2 OwnerNational Amusements 80 voting power Number of employees11 200 2017 3 DivisionsViacom Media NetworksViacom International Media NetworksSubsidiariesViacom InternationalViacom 18 49 Rainbow S p A 30 Bellator MMAWhoSayVidConAwesomenessTVParamount PicturesPluto TVPaws Inc Websitewww viacom com 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 The second merger between Viacom and CBS Corporation creating the combined ViacomCBS company was announced on August 13 2019 the merger was completed on December 4 2019 11 12 13 Contents 1 History 1 1 Early years 1 2 2000s 1 3 2010s 1 3 1 Re merger deal with CBS 2 Copyright complaints against YouTube 3 Corporate governance 4 See also 5 References 6 External linksHistory EditEarly years Edit In March 2005 the first Viacom announced plans of exploring the option of splitting the company into two publicly traded companies because of a stagnating stock price 14 and the rivalry between Les Moonves and Tom Freston longtime heads of CBS and MTV Networks respectively Also the company was facing issues after MTV was banned from producing any more Super Bowl halftime shows after the Super Bowl Halftime Show controversy in 2004 After the departure of Mel Karmazin in 2004 15 Sumner Redstone who served as chairman and chief executive officer decided to split the offices of president and chief operating officer between Moonves and Freston 15 Redstone was set to retire in the near future and a split was seen as a creative solution to the matter of replacing him 15 It was also intended to provide alternative investments that would be more appealing to investors one a high cash flow lower growth company that could afford to pay a substantial dividend and the other a growing company that would have greater investment opportunities and therefore would not be expected to pay a dividend The second Viacom was created and headed by Freston It consists BET Networks MTV Networks and Paramount Pictures 16 2000s Edit Old separate Viacom logo 1990 2006 In June 2005 Viacom announced its purchase of Neopets a virtual pet website 17 along with GameTrailers GoCityKids and iFilm That December Paramount announced it would acquire DreamWorks Pictures All indications were that the whole of DreamWorks both live comedy film and television 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 would remain owned by Viacom even though CBS acquired Paramount s television studio In February 2006 Paramount completed the acquisition of DreamWorks 18 On April 24 Viacom obtained Xfire 19 In August Viacom announced that it had acquired Atom Entertainment for 200 million 20 In September Viacom acquired game developer Harmonix for 175 million In February 2007 Viacom ordered leaked copyrighted video clips be taken off the video sharing service YouTube for copyright reasons 21 On February 21 Viacom publicly announced they would be offering free online access to their material through Silicon Valley s distributor Joost On May 21 2007 Viacom entered into a 50 50 joint venture with Indian media company Network 18 to form Viacom 18 which would house Viacom s existing channels in India MTV VH1 and Nickelodeon as well as Network 18 s Bollywood movie business All future Viacom content for India and new ventures such as a Hindi entertainment channel and a Hindi movie channel would be housed in this joint venture On December 19 2007 Viacom signed a five year 500 million contract with Microsoft that included content sharing and advertisement The deal allowed Microsoft to license many shows from Viacom owned cable television and film studios for use on Xbox Live and MSN The deal also made Viacom a preferred publisher partner for casual game development and distribution through MSN and Windows On the advertisement side of the deal Microsoft s Atlas ad serving division became the exclusive provider of previously unsold advertising inventory on Viacom owned websites Also Microsoft purchased a large amount of advertising on Viacom owned broadcasts and online networks Finally Microsoft would also collaborate on promotions and sponsorships for MTV and BET award shows two Viacom owned cable networks On December 4 2008 Viacom announced layoffs of 850 personnel or 7 of their workforce 22 At the end of the year Time Warner Cable along with partner Bright House Networks and Viacom s MTV Networks could not come to terms for the renewal of any Viacom channel beyond the end of year 23 24 Time Warner Cable s operations include New York City and Los Angeles with Bright House including the Tampa Bay and Orlando markets both top 20 markets This blackout was narrowly avoided when a zero hour deal was reached shortly after midnight on January 1 2009 25 On December 7 2009 Viacom sold its stake in MTV Brasil to Grupo Abril along with rights to the brand Details on the deal were not disclosed 26 2010s Edit In February 2011 Hulu and Viacom announced the return of The Daily Show with Jon Stewart and The Colbert Report to Hulu along with shows from the Viacom library Nickelodeon s shows are not part of this deal 27 Also that month Viacom became a co owner of Rainbow S p A an Italian television studio best known for the Winx Club franchise 10 Since the purchase Viacom s Nickelodeon networks have broadcast Rainbow s shows worldwide 28 Nickelodeon s American studios have also collaborated with Rainbow on multiple productions including Winx Club and Club 57 29 Later in October 2011 Viacom purchased a majority stake in Bellator Fighting Championships Spike TV started to air Bellator in 2013 after the rights to the UFC Ultimate Fighting Championship library ended in 2012 30 On December 1 2011 the company stopped trading on the New York Stock Exchange NYSE and began listing its securities on Nasdaq instead The stock ticker symbols are the same as that used while the company was on the NYSE 31 On July 10 2012 during contract negotiations over raising carrier rates the U S satellite TV provider DirecTV s executives approached Viacom with a new proposal and a request to continue broadcasting 17 of Viacom s television networks including Nickelodeon MTV Logo and Comedy Central during talks but received no response and thus Viacom ceased transmission to DirecTV s 20 million subscribers 32 On July 11 in a counter response to DirecTV advising its subscribers to view original programming from the affected networks online Viacom scaled back access to recent episodes of Viacom owned program content available to the websites of its networks Viacom described this as a temporary slimdown until a new carriage deal with DirecTV was reached 33 Viacom and DirecTV reached an agreement on July 20 to return the interrupted programming 34 In 2012 CEO Phillip Dauman began to report Viacom s intentions to bundle past programming and make it available on demand via services like Hulu 35 On January 22 2014 Viacom established a marketing division Viacom Velocity 36 On April 1 2014 Cable One removed 15 channels owned by Viacom MTV VH1 Nickelodeon and TV Land off after the two companies failed to reach an agreement Channels were replaced with other networks including BBC America Sprout Sundance TV IFC Investigation Discovery TV One CMP TV National Geographic Channel and TheBlaze The change has been deemed permanent On May 1 2014 Viacom announced it had agreed to take over the British broadcaster Channel 5 from Northern amp Shell the media group owned by the British newspaper publisher Richard Desmond Viacom becomes the first American media company to take over a British broadcaster with a public service remit 37 The purchase of Channel 5 closed on September 10 2014 38 On October 1 2014 Suddenlink Communications removed channels owned by Viacom off after the two companies failed to reach an agreement Channels were replaced with other networks including Sprout FXX Pivot Uplifting Entertainment Investigation Discovery Oprah Winfrey Network Women s Entertainment and TheBlaze On August 20 2016 a settlement between Sumner and Shari Redstone and Philippe Dauman was reached that would have him resign as chief executive officer and be replaced with Thomas E Dooley as interim CEO Dauman would continue to serve as chairman until September 13 39 On May 25 2017 Viacom channels returned to Suddenlink after nearly 3 years of absence 40 In November 2016 Viacom bought Argentine television network Telefe 41 In December 2016 the Viacom board appointed Bob Bakish as acting CEO 42 His appointment as president and CEO was made permanent on December 12 2016 43 44 45 In November 2017 Viacom announced the opening of a new digital content division named Viacom Digital Studios The company has hired former AwesomenessTV chief business officer Kelly Day to lead the studio Day began her duties on November 20 46 In February 2018 Viacom announced their plans to acquire the internet video conference VidCon in an effort to reach out to youth audiences in a similar way to Viacom s Nickelodeon and MTV channels 47 In the same month Viacom announced that they would launch an official Viacom streaming service in fall 2018 in another effort by Bakish to revitalize the company This streaming service would support ads similar to Hulu and was expected to include television series from Viacom Media Networks that have not been available on other services such as Hulu or Amazon Prime Video 48 49 50 51 Bakish has stated that the streaming service would serve as a complement to OTT MVPDs rather than a replacement 52 In April 2018 Viacom hosted its first presentation at the annual Digital Content NewFronts where they announced new original content for sites such as Facebook Twitter and Snapchat They also announced the expansion of VidCon to London in 2019 at the same conference 53 54 On July 25 2018 Viacom announced that it was in talks to acquire AwesomenessTV for a fraction of the company s 650 million valuation in 2016 55 56 Two days later on July 27 Viacom officially acquired the company for 25 million Jordan Levin would leave his position as CEO of AwesomenessTV following the acquisition 57 58 In January 2019 it was announced that Viacom has acquired Internet television streaming service Pluto TV for 340 million 59 Re merger deal with CBS Edit Further information 2019 merger of CBS and Viacom On September 29 2016 National Amusements sent a letter to Viacom and CBS Corporation encouraging the two companies to merge back into one company 60 On December 12 the deal was called off 61 On January 12 2018 CNBC reported that Viacom had re entered talks to merge back into CBS Corporation after the AT amp T Time Warner merger was planned as well as Disney s proposed acquisition of most 21st Century Fox assets and heavy competition from companies such as Netflix and Amazon 62 Shortly afterward it was reported that the combined company could be a suitor for acquiring the film studio Lionsgate 63 Viacom and Lionsgate were both interested in acquiring The Weinstein Company in the wake of sexual abuse allegations against Harvey Weinstein 64 Viacom was listed as one of 22 potential buyers that were interested in acquiring TWC 64 They lost the bid and on March 1 2018 it was announced that Maria Contreras Sweet would acquire all of TWC s assets for 500 million 65 66 On March 30 2018 CBS made an all stock offer slightly below Viacom s market value and insisted that its existing leadership including long time chairman and CEO Les Moonves oversee the re combined company Viacom rejected the offer as being too low requesting an increase of 2 8 billion and requesting that Bob Bakish be maintained as president and COO under Moonves It was reported that these conflicts had resulted from Shari Redstone seeking more control over CBS and its leadership 67 68 Eventually on May 14 2018 CBS Corporation sued its and Viacom s parent company National Amusements and accused Redstone of abusing her voting power in the company and forcing a merger that was not supported by CBS or Viacom 69 70 CBS also accused Redstone of discouraging Verizon Communications from acquiring it which could have been beneficial to its shareholders 71 On May 23 2018 Les Moonves stated that he considered the Viacom channels to be an albatross and while he favored more content for CBS All Access he believed that there were better deals for CBS than the Viacom deal such as Metro Goldwyn Mayer Lionsgate or Sony Pictures Moonves also considered Bakish a threat because he did not want an ally of Redstone as a board member of the combined company 72 On September 9 2018 Moonves left CBS after being accused by twelve women of sexual assault National Amusements agreed to not propose a CBS Viacom merger for at least two years after the date of the settlement 73 On May 30 2019 CNBC reported that CBS and Viacom would explore merger discussions in mid June 2019 CBS s board of directors was revamped with people who were open to a merger The re merger was made possible with the resignation of Moonves who opposed all attempts for a Viacom merger The talks had started following rumors of CBS acquiring Starz from Lionsgate 74 Reports say that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies 75 76 CBS announced to acquire Viacom as part of the re merger deal for up to 15 4 billion 77 On August 2 2019 it was reported that CBS and Viacom agreed to merge back into one entity Both companies came to an agreement on the management team for its merger with Bakish serving as CEO of the combined company and president and acting CEO of CBS as Joseph Ianniello oversees the CBS branded assets 78 However on August 7 2019 both CBS and Viacom delayed their merger announcement as the two companies reported the quarterly earnings though the talks about the re merger continues 79 80 On August 13 CBS and Viacom officially announced their merger CBS would purchase Viacom and change its name to ViacomCBS Bakish would become president and CEO of ViacomCBS with Ianniello serving as chairman and CEO of CBS where he would oversee the CBS branded assets Shari Redstone would also serve as chairwoman of the new company 81 On October 29 2019 National Amusements approved the re merger deal and expected to close the deal in early December with the recombined company trading its shares on Nasdaq under the symbols VIAC and VIACA 82 On December 4 the deal was completed 13 Copyright complaints against YouTube EditMain article Viacom International Inc v YouTube Inc In February 2007 Viacom sent upwards of 100 000 Digital Millennium Copyright Act takedown notices to the video sharing site YouTube Of the 100 000 notices approximately 60 70 non infringing videos were removed under the auspices of copyright infringement 21 On March 13 2007 Viacom filed a US 1 billion legal claim Viacom International Inc v YouTube Inc against Google and YouTube alleging massive copyright infringement alleging that users frequently uploaded copyrighted material to YouTube enough to cause a hit in revenue for Viacom and a gain in advertisement revenue for YouTube 83 The complaint contended that almost 160 000 unauthorized clips of Viacom s programming were made available on YouTube and that these clips had collectively been viewed more than 1 5 billion times In July 2008 the case generated controversy when District Judge Louis Stanton ruled that YouTube was required to hand over data detailing the viewing habits of every user who had ever watched videos on the site 84 Judge Stanton rejected Viacom s request for YouTube to hand over the source code of its search engine system saying that the code was a trade secret 85 Google and Viacom later agreed to allow Google to anonymize all the data before handing it over to Viacom 86 On June 23 2010 Judge Stanton ruled in Google s favor in a motion for summary judgment holding that Google was protected by provisions of the Digital Millennium Copyright Act notwithstanding evidence of intentional copyright infringement Viacom announced its intention to appeal the ruling 87 On April 5 2012 the ruling was overturned by the United States Court of Appeals for the Second Circuit 88 Writing for a two judge panel because Judge Roger Miner had died while the trial was pending of the Second Circuit Judge Jose A Cabranes concluded that a reasonable jury could find that YouTube had actual knowledge or awareness of specific infringing activity on its website Eric Goldman a professor at the Santa Clara University School of Law expressed concern that the ruling would negatively affect startups by making them more hair trigger on taking down news or content for fear that failure to do so will be held against them by content providers 89 On April 18 2013 Judge Stanton issued another order granting summary judgment in favor of YouTube 90 An appeal was begun but the week before the parties were to appear in the 2nd U S Circuit Court of Appeals a settlement was announced and it was reported that no money changed hands 91 Viacom and their sister company B Viacom have since taken to removing videos or blocked countries themselves Corporate governance EditThe previous board of directors of Viacom were George S Abrams David Andelman Joseph Califano Jr William Cohen Philippe Dauman Alan C Greenberg Charles Phillips Shari Redstone Sumner Redstone Frederic Salerno William Schwartz and Robert D Walter Following the Viacom CBS split the Viacom board consisted of George S Abrams Philippe Dauman Thomas E Dooley Ellen V Futter Robert Kraft Alan Greenberg Charles Phillips Sumner Redstone Chairman Shari Redstone non executive vice chair Frederic Salerno and William Schwartz As of 2010 the Board consisted of George Abrams Philippe Dauman Thomas E Dooley Alan Greenberg Robert Kraft Blythe McGarvie Bob Bakish Charles Phillips Shari E Redstone Sumner Redstone Frederic Salerno and William Schwartz 92 See also Edit New York City portal Companies portal List of conglomerates Paramount CommunicationsReferences Edit Here is Everything You Need to Know About the Viacom CBS Merger a b c d e VIACOM REPORTS FOURTH QUARTER AND FULL YEAR RESULTS Press release New York NY Viacom November 14 2019 Archived from the original on December 3 2019 Retrieved November 19 2019 Viacom Fortune 500 Global 500 2009 Industry CNN July 20 2009 Retrieved May 1 2010 2007 Results PDF February 28 2008 Archived from the original PDF on September 16 2010 Retrieved May 1 2010 Siklos Richard February 9 2009 Why Disney wants DreamWorks CNN Retrieved May 1 2010 News Corporation Annual Report 2007 Newscorp com June 30 2007 Archived from the original on June 29 2011 Retrieved July 13 2011 Dealbook National Amusements to Sell CBS and Viacom Shares DealBook Retrieved 2018 01 29 Press release VIACOM REPORTS EARNINGS GROWTH FOR FOURTH QUARTER AND FULL YEAR FISCAL 2012 Archived March 4 2016 at the Wayback Machine Viacom a b Vivarelli Nick February 4 2011 Viacom takes stake in Rainbow Variety Retrieved July 31 2018 Lee Edmund 2019 08 13 CBS and Viacom to Reunite in Victory for Shari Redstone The New York Times ISSN 0362 4331 Retrieved 2019 08 13 Szalai Georg 2019 11 25 Viacom CBS Set Date to Close Merger The Hollywood Reporter a b Viacom and CBS Corp are officially back together again CBS News December 4 2019 CNN com Viacom board opts to split company Jun 14 2005 www cnn com Retrieved 2019 04 30 a b c Karmazin out at Viacom Redstone plans departure Jun 1 2004 money cnn com Retrieved 2019 04 30 Hill Charles Jones Gareth 2007 10 22 Strategic Management An Integrated Approach Cengage Learning ISBN 978 0618894697 Viacom Buys Neopets Adds to Web Assets Los Angeles Times 2005 06 21 Retrieved 2019 08 12 Tough deal to come for Spielberg The Hollywood Reporter 21 September 2008 Retrieved 2019 08 12 Hansell Saul 2006 04 25 Viacom to Pay 102 Million for an Online Game Service The New York Times ISSN 0362 4331 Retrieved 2019 07 12 Ahrens Frank 10 August 2006 Viacom s MTV Unit Buys Atom Entertainment for Its Film Gaming Web Sites The Washington Post a b Media Companies Blast YouTube for Anti Piracy Policy Archived November 3 2012 at the Wayback Machine Foxnews com February 19 2007 Retrieved July 13 2011 The Dreaded Viacom Layoffs 850 People Fixmer Andy December 31 2008 Viacom May Pull Channels Off Time Warner Cable in Contract Spat Bloomberg Archived from the original on July 21 2012 Retrieved July 13 2011 Time Warner may cut Colbert Spongebob MSNBC Archived from the original on 2009 01 11 Blackout averted as Viacom Time Warner Cable dispute is resolved Los Angeles Daily News Associated Press December 31 2008 Retrieved May 8 2018 Abril compra acoes da Viacom na MTV Brasil in Portuguese December 7 2009 Archived from the original on March 3 2016 Retrieved May 30 2010 Erwich Craig More Episodes from Nickelodeon Comedy Central MTV VH1 and more coming to Hulu Hulu com Archived from the original on 2014 10 29 Retrieved 2014 11 21 Minardi Sabina 24 February 2011 Winx le fatine fanno il botto L espresso in Italian Ramos Weiner Maribel 20 November 2018 Iginio Straffi de Rainbow Tuvimos una influencia muy importante en la historia de Club 57 para garantizar su atractivo en Europa Produ com in Spanish Updated monthly USA Today October 26 2011 Viacom to Move Stock Listing to Nasdaq From NYSE on Dec 1 Bloomberg Businessweek November 13 2011 Hollister Sean July 11 2012 DirecTV loses 26 Viacom channels after contract dispute The Verge Viacom Pulls Online Videos Over DirecTV Dispute Archived April 13 2013 at the Wayback Machine PC World July 12 2012 Ramachandran Shalini Jannarone John July 20 2012 Viacom to Restore DirecTV Channels The Wall Street Journal Retrieved July 20 2012 Dive Into Media Philippe Dauman AllThingsD Retrieved 2014 01 15 Viacom Launches Viacom Velocity Full Service Integrated Marketing and Creaative Content Solutions Group PR Newswire Cision Retrieved 2019 08 03 Viacom confirms it s buying Channel 5 for 450m CityAM May 2014 Retrieved 2014 05 01 Barraclough Leo September 10 2014 Viacom Wraps Purchase of U K s Channel 5 Commissions Joint Projects Variety Retrieved August 25 2016 Rainey James Littleton Cynthia August 20 2016 Viacom Finally Announces Philippe Dauman Ouster Thomas Dooley Promotion Variety Retrieved August 25 2016 Viacom Networks to Return on Suddenlink Communications Fox Business 25 May 2017 Steele Anne 15 November 2016 Viacom to Buy Argentina s Telefe for 345 Million Wall Street Journal Lieberman David 12 December 2016 Viacom Names Bob Bakish Permanent CEO As He Tries To Chart A Future Without CBS Deadline Szalai Georg Viacom Names Bob Bakish Permanent CEO The Hollywood Reporter December 12 2016 Bloomberg News Viacom s new CEO pursues turnaround with CBS out of the picture Crain s New York Business December 12 2016 Steinberg Brian At Viacom Bob Bakish Enjoys Swift Rise Variety December 12 2016 Hayes Dade November 1 2017 Viacom Picks AwesomenessTV s Kelly Day To Lead Its New Digital Studio Deadline Retrieved May 14 2018 Lopez Ricardo 5 February 2018 Viacom Acquiring VidCon EXCLUSIVE variety com Seitz Dan February 7 2018 Viacom Owner Of Comedy Central And Nickelodeon Will Launch A Streaming Service This Fall Uproxx Retrieved March 1 2018 McDonald Andrew March 1 2018 Viacom plans direct to consumer streaming service TBIVision Retrieved March 1 2018 Steinberg Brian February 28 2018 Viacom Plots Launch of Streaming Service Variety Retrieved March 1 2018 Vlessing Etan February 28 2018 Viacom to Launch Streaming Service Later This Year CEO Says The Hollywood Reporter Retrieved March 1 2018 Berman Jeff February 8 2018 Viacom CEO Company s New Streaming Service to Complement Existing OTT Services Media amp Entertainment Services Alliance Retrieved March 1 2018 Jarvey Natalie April 30 2018 Viacom Unveils Digital Studio With Series Slate VidCon Expansion The Hollywood Reporter Retrieved May 14 2018 Patel Sahil April 30 2018 Big media is crashing the NewFronts Digiday Retrieved May 14 2018 Spangler Todd July 25 2018 Viacom in Talks to Buy AwesomenessTV Variety Retrieved July 27 2018 Hayes Dade July 25 2018 Viacom In Talks To Acquire AwesomenessTV At Attractive Discount Deadline Retrieved July 27 2018 Spangler Todd July 27 2018 Viacom Acquires AwesomenessTV CEO Jordan Levin to Depart Variety Retrieved July 27 2018 Chmielewski Dawn July 27 2018 Viacom Acquires AwesomenessTV CEO Jordan Levin To Depart Deadline Retrieved July 27 2018 Roettgers Janko 2019 01 22 Viacom Has Acquired Pluto TV Streaming Service for 340 Million Variety Retrieved 2019 01 23 National Amusements Proposes Viacom CBS Reunion Cites Substantial Synergies The Hollywood Reporter Retrieved 2016 10 13 Shari Redstone withdraws CBS Viacom merger proposal 12 December 2016 Retrieved 2016 12 17 Wang Christine 2018 01 12 Viacom CBS shares surge after report Shari Redstone pursuing merge of companies CNBC Retrieved 2018 01 12 Lionsgate Ripe For Takeover As Amazon Verizon and CBS Viacom Emerge As Potential Suitors Deadline 18 January 2018 Retrieved 2018 01 19 a b Weinstein Co Talking to 22 Buyers 300 Million Expected Price Bob Weinstein Must Exit October 26 2017 Ryan Faughnder March 1 2018 Former Obama administration official has reached a deal to buy Weinstein Co assets Los Angeles Times Retrieved March 2 2018 Chmielewski Dawn C 2018 03 02 TWC Board New York AG Confirm Maria Contreras Sweet Group Has Acquired Weinstein Company Assets Deadline Retrieved 2018 03 02 Moonves vs Redstone Inside the Poisonous War for Control of CBS and Viacom The Hollywood Reporter Retrieved 2018 04 11 Littleton Cynthia 2018 04 11 Could CBS Viacom Strife Cause Leslie Moonves to Walk Away Variety Retrieved 2018 04 11 CBS Sues Redstones Firm in Escalation of Longstanding Fight Bloomberg com 2018 05 14 Retrieved 2018 05 14 Chmielewski Dawn C 2018 05 14 National Amusements Fires Back At CBS Suit Says It s Outraged By Allegations Deadline Retrieved 2018 05 14 Chmielewski Dawn C 2018 05 14 Verizon Expressed Interest In Acquiring CBS Before Viacom Talks Heated Up Deadline Retrieved 2018 05 26 Bond Paul 2018 05 23 Behind Leslie Moonves Crusade to Save CBS From Viacom The Hollywood Reporter Retrieved 2018 05 26 Parker Ryan September 9 2018 Leslie Moonves Exits CBS After Being Accused of Sex Crimes Violence by More Women The Hollywood Reporter James Meg May 30 2019 CBS and Viacom merger negotiations expected to resume Los Angeles Times Retrieved 2019 06 02 Munson Ben July 16 2019 CBS Viacom set early August deadline for remerger agreement report FierceVideo Retrieved 2019 07 20 Littleton Synthia July 19 2019 CBS Viacom Boards Wrestle With Post Merger Management Decisions Ending COO Role EXCLUSIVE Variety Retrieved 2019 07 20 How a Merged CBS Viacom Could Try to Compete with Hollywood Giants The Hollywood Reporter July 19 2019 Retrieved August 7 2019 CBS plan to acquire Viacom for up to 15 4 billion could be announced Aug 8 giving its controlling shareholder the ability to leverage IP like Star Trek across film and TV to better compete with Disney Netflix and the rest CBS Viacom Reach Tentative Deal on Team to Lead Combined Company The Wall Street Journal 2 August 2019 Retrieved 3 August 2019 Lafayette Jon August 7 2019 CBS Viacom Deal Won t Make Deadline Broadcasting Cable Bouma Luke August 7 2019 CBS amp Viacom s Merger Announcement is Reportedly Delayed as Talks Continue Cord Cutters News CBS and Viacom To Combine PDF CBS August 12 2019 Weprin Alex October 29 2019 Viacom CBS Merger Now Expected to Close in Early December Billboard United States District Court for the Southern District of New York Viacom International Inc v YouTube Inc PDF Wall Street Journal Google Must Divulge YouTube Log BBC News July 3 2008 Helft Miguel July 4 2008 Google Told to Turn Over User Data of YouTube New York Times Sweeney Mark July 15 2008 Google and Viacom reach deal over YouTube user data The Guardian London Lefkow Chris June 23 2010 US judge tosses out Viacom copyright suit against YouTube AFP Retrieved June 24 2010 Viacom International Inc v YouTube Inc 2d Cir April 5 2012 Text Jonathan Stempel Yinka Adegoke 5 April 2012 Viacom wins reversal in landmark YouTube case Reuters Retrieved October 17 2013 Granting Defendant YouTube s Renewed Motion for Summary Judgment Entering Judgement that Defendants are Protected by the Safe Harbor Provisions of the Digital Millennium Copyright Act 17 U S C 512 c from all of Plaintiffs Copyright Infringement Claims Docket Alarm Inc April 18 2013 Retrieved May 9 2013 Stempel Jonathan March 18 2014 Google Viacom settle landmark YouTube lawsuit Reuters Viacom Inc Class A Board of Directors insiders morningstar com Archived from the original on 2018 01 30 Retrieved 2018 01 29 External links EditOfficial website dead link Ketupa net Viacom Viacom information by Hoover s Viacom profile by Yahoo Split documentation SEC filing on Form S 4 from October 5 2005 describing the split Business data for Viacom Google FinanceYahoo FinanceSEC filings Retrieved from https en wikipedia org w index php title Viacom 2005 2019 amp oldid 1053345992, wikipedia, wiki, book,

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