Company Name: Viacom Parent Company: National Amusements
History and current position:
On June 4, 1971, Viacom separated from Columbia Broadcasting System Inc. In 1983 Viacom joins with Warner Communications Inc. and Warner Amex Cable Communications. In 1985, Viacom acquired 66% of MTV Networks including: Music Television, Nickelodeon, Nick at Nite and VH1. In 1986, Viacom purchased the remaining shares of MTV Networks for $185,000. In 1987 National Amusements, Inc. acquired 83% of Viacom. MTV began its international expansion with the launch of MTV Europe. In 1991 Viacom acquired the remaining shares of MTV Europe for $65 million. In 1994 Viacom completed $9.9 billion merger with Paramount Communications Inc. In 1999 Viacom (VIA, VIA.B) became a publically traded company. In 2000 Viacom completed a $39.8 billion merger with CBS Corporation. In 2001 the acquisition of BET Holdings II, Inc., was completed for $3 billion. In 2002 MTV acquired The College Television Network, Nickelodeon acquired Sesame Workshop’s 50% interest in Noggin for approximately $100 million and Noggin launched The N. In 2003 Viacom purchased the remaining 50% interest in COMEDY CENTRAL for $1.2 billion, the New TNN re-launched as Spike TV. In 2004 The College Television Network re-launched as mtvU. In 2005 Viacom Inc. is formed following the separation of the former Viacom Inc; MTVN acquired Game Trailers, GoCityKids, IFILM and Neopets. MTVN launched Logo, MTVN launched its first broadband channels, MTVN marks its 100th channel milestone with the launch of MTV base in Africa and MTVN completed its acquisition of 97.8% of VIVA Media AG. In 2006 MTVN acquired Harmonix, Quizilla, Atom Entertainment, Y2M, and Xf. BET Interactive completed a buyout to own 100% of BET.com, MTVN acquired the remaining interest in its joint venture MTV Group Japan, and Paramount Pictures acquires DreamWorks LLC. Today Viacom owns a multitude of companies that make many products including: movies, TV shows, award shows among other things. Viacom may very well be the leader of entertainment on an international level simply due to the fact that the companies that they own are the leaders of their industries. Viacom is a global giant and through association with its parent company they have access to a numerous amount of revenue streams.
Parent Company structure and ownership:
Viacom’s parent company is National Amusements; this company was founded in 1936 as the Northeast Theatre Corporation by Michael Redstone and is run today by his children Sumner and Shari Redstone. Through National Amusements, the Redstones control both the CBS Corporation and Viacom through super-voting shares. National Amusements, Inc., is an international leader in the motion picture industry. They operate more than 950 movie screens in the United States, Great Britain and Latin America. National Amusements is a closely held, Massachusetts based, company operating under the third generation of leadership by the Redstone family. National Amusements is also an equal partner in the online ticketing service MovieTickets.com, and is the parent company of both Viacom and CBS Corporation. The company has remained under majority control of the Redstone family since founding and one or more family members have remained on the board. The company was originally ran by founder and former chairman Michael Redstone he himself was in majority control of the company and made most executive decisions. With the acquisition of much publically traded company the Redstones were limited to control of its subsidiaries through super-votes. This means that even though the companies remain publically traded the Redstone family retains control of those companies and their boards of directors.
BUSINESS (Include Citations)
Product line #1: BET Networks
Product #1: 106 & Park
Product line #2: MTV Networks
Product #2: Jersey Shore
