Our brands are #1 in key U.S. target demos, including total audience, kids, adults, African-Americans and Hispanics. Hollywoodâs Fort Knox is Iron Mountain. Media observers wonder whether Redstone will position ViacomCBS Inc. for a sale â or if she will tighten her grip. She previously wrote for the Miami Herald and the Palm Beach Post. âIt might depend on where the stock goes over the next year or two,â Matthews said. As a condition of the September 2018 settlement, she agreed to not try to orchestrate a merger with Viacom for at least two years. 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Pandemic is a win and a loss for Hollywoodâs background actors. Shari Redstone tried to nudge CBS to merge with Viacom, but CBSâ then-leader, Leslie Moonves, was worried that Viacom, which was grappling with a falling stock price and an exodus of viewers, would become a drag on CBS. (A judge eventually ruled in favor of Redstone.). Or vise versa Viacom owns CBS. Experts say thereâs a better way. Viacom International Inc was founded in 2005. Shari Redstone, who helped engineer the merger, becomes the first chairwoman in Viacomâs history. Former engineer says Tesla forced her out and then libeled her. While the COVID-19 pandemic has shrunk crew sizes and banned crowd scenes, Hollywoodâs new safety rules mean longer jobs for some background actors. Jill Goldsmith. âPeople underestimated her, but sheâs proven that sheâs obtained a lot of her fatherâs characteristics.â. Jones will become the first Black woman to run a major TV news operation. The company's line of business includes the dissemination of visual and textual television programs on a subscription or fee basis. Bakish and CBSâ acting chief, Joseph Ianniello, must fuse together two different cultures and navigate the shift to streaming services. ViacomCBS Domestic Media Networks Formerly MTV Networks Viacom Media Networks Type Division IndustryEntertainment, cable and satellite television â¦ Viacom's chairman and chief executive, Sumner Redstone, is a self-described "liberal Democrat" and a prolific donor to Democratic campaigns. Just a few years ago, Shari Redstone was on the outs of her familyâs far-flung media empire. Viacom is one of the most powerful entertainment and media companies in the US. Co-Business Editor. In late 2016, Bakish was named Viacomâs CEO and he began working to rebuild the company. ViacomCBS Domestic Media Networks is an American mass media division of ViacomCBS that oversees the operations of many of its television channels and Internet brands. Her father, Sumner Redstone, once dismissed her publicly as a lightweight who contributed little to the business. Within a few months, she and Sumner Redstone removed Dauman and his ally from the familyâs investment firm, which provoked a high-stakes lawsuit. Earlier this decade, two women had ensconced themselves in Sumner Redstoneâs life and he lavished them with gifts valued at $150 million. But on Tuesday the boards of CBS and Viacom agreed to reunite the two Redstone-controlled companies that were torn apart 13 years ago. Viacom has acquired Los Angeles-based video streaming service Pluto TV for $340 million in cash, both companies confirmed Tuesday. The move follows other lawsuits against Netflix related to executive poaching. Herzerâs lawsuit plunged National Amusements and Viacom into turmoil. Many arenât buying public officialsâ âstay-at-homeâ message. Within six weeks, Moonves resigned. Today, under the chairman-ship of the 81 year old Redstone, who adamantly sticks on to his position, Viacom is one of the biggest communications network in the whole world. Talks were ongoing but collapsed when CBSâ management feared that she was trying to remove Moonvesâ allies on the board. Former Viacom Inc. Chief Financial Officer Wade Davis agreed to buy a majority stake in Univision Communications Inc., a deal that follows years of â¦ In addition to MTV, Viacom also owns a number of other cable networks including VH1, Comedy Central and Nickelodeon. AT&T chief defends HBO Max after Christopher Nolan calls it the âworstâ. Univision Sold To Investment Firm Of Former Viacom CFO Wade Davis. AT&T Inc. acquired Time Warner Inc., owner of HBO, CNN, TBS and Warner Bros. Disney in March completed its $71.3-billion takeover of much of Rupert Murdochâs 21st Century Fox. She pushed for the union, believing the two companies would be stronger together during a turbulent time. âToday marks an important step forward in Viacomâ¦ Activision Blizzard sued Netflix for poaching its CFO Spencer Neumann in 2018, two years before his fixed contract was scheduled to end. âEven if you wanted to sabotage the company, it would be hard to do more damage than [previous management] did.â. âWe will establish a world-class, multi-platform media organization that is well-positioned for growth in a rapidly transforming industry.â. Only 7% of the largest U.S. companies in Standard & Poorâs top index have a woman as a board chair, according to Fenwick & West, a Mountain View, Calif., law firm. What to know about Hollywoodâs newest job, Actors sue union health plan over loss of insurance. The merger agreement is a triumph for Redstone, who has overseen the familyâs controlling stakes in the two companies since her fatherâs declining health forced him to relinquish control. We have a global reach of more than 4.3 billion subscribers across more than 180 countries. Viacom brands are seen globally in approximately [â¦] âLess than a quarter of the S&P 100 companies have a woman as their chair or a lead director, and that puts Shari in a notable position,â said Dawn Belt, a partner and coauthor of Fenwick & Westâs Gender Diversity Study. The 6 corporations that collectively control U.S. media today are Time Warner, Walt Disney, Viacom, Rupert Murdochâs News Corp, CBS Corporation and NBC Universal. Instead, she will be integrally involved in steering the ship as it tries to compete with much larger media and technology companies. (Moonves has denied the allegations.) Instead, he surrounded himself with younger girlfriends and business cronies. Their strong working relationship ensures that Redstone no longer will be the subject of boardroom resistance. And they announced that Shari Redstone would become chairwoman of the new entity, ViacomCBS Inc., joining a small number of women overseeing a major U.S. company. Judge supports Viacomâs injunction request in poaching case against Netflix. The all-stock deal is structured as an acquisition of Viacom by CBS. The Redstones prevailed, and Dauman, who presided over Viacom as its value plummeted, resigned. Pluto TV will expand its free service with paid subscriptions, says new owner Viacom Sarah Perez @ sarahintampa / 9:25 AM PST â¢ February 6, 2019 â¦ We need more women in leadership positions.â. The elderly mogul was reeling from one of the womenâs betrayal and prone to crying spells. Blake mccormick owns viacom No, in 2006 CBS and Viacom split into two different companies. Viacom (post-2006) owns Paramount Pictures, and the Viacom Media Networks (formerly MTV Networks). Channel 5 is wholly owned by Viacom International Media Networks, a division of Viacom Inc. Viacom International Media Networks is comprised of many of the worldâs most popular multimedia entertainment brands, including MTV, Nickelodeon, Comedy Central, BET, Paramount Channel, VH1, VIVA, COLORS and Tr3s: MTV, Musicá y Mas. The political affiliations of Viacom's board and senior management, however, could undercut the credibility of any action the board may take. And it still continues its aggressive acquisitions to beat the biggest rivals it has, Time Warner and Walt Disney. Redstoneâs handpicked lieutenant, Bob Bakish, will oversee the new ViacomCBS as chief executive. Under the nearly $12-billion deal, CBS will absorb the smaller Viacom, which owns such brands as MTV, Nickelodeon, Comedy Central and Paramount Pictures. He overhauled the management of the moribund Paramount and tossed out senior TV executives. A native of Wyoming, she is a graduate of the University of Colorado and Columbia University. But her path to power, like most things involving the Redstone family, was contentious. In early 2018, Redstone again tried to get CBS to entertain the Viacom merger. After Viacom purchased Paramount Pictures in 1994, Sumner Redstone hailed the moment as his arrival in the media big leagues. Had family member who worked for them. CBSâ independent board members filed suit to strip the Redstones of their voting control. By Jill Goldsmith. In the last three years, she has proved herself as a worthy successor to her 96-year-old father, known for his stubborn streak and ability to outlast opponents. Roughly 240,000 Californians have tested positive for the virus in the last 14 days, and about 112 have died of COVID-19 each day over the last week. Massive corporations dominate the U.S. media landscape. But within a few months, the court fight in Delaware was eclipsed by a scandal engulfing Moonves, who had run CBS since the 2006 split. âBut sheâs finally out from under her fatherâs shadow, and I think sheâs driven to make a name for herself and prove what else she can do.â. A month later, Sumner Redstone had his other former companion, Manuela Herzer, escorted from his Beverly Park mansion. Meanwhile, the media industry was rapidly consolidating. Talks spanned months and culminated Tuesday with the all-stock deal that the two companies believe will be completed by the end of the year. Hayley Hodson was a âdream athleteâ and top student. The two major deals of 2019 in the media space â the acquisition of Fox Studios by Walt Disney and the Viacom-CBS merger â indicate that major â¦ Its latest restored treasure: Bee Gees footage. Tensions were so high that he offered her a $1-billion buyout, and she fumed to her son in 2015: âYour grandfather says I will be chair over his dead body.â. In an additional 14% of those S&P 100 firms, a woman was lead director â another key board post. Now, the challenge will be integrating two companies that have been separate for more than a decade. Through a history of mergers and acquisitions, these companies have â¦ After closing, CBS shareholders will own approximately 61 percent of the new company, and owners of â¦ At one point, controlled over 70% of the voting stock of Viacom, which is a subsidiary of National Amusements, his private family-owned company. Warner Bros. has decided its 2021 movies will come out concurrently in U.S. theaters and on HBO Max. L.A. Timesâ 101 Best Restaurants Reimagined for 2020, This yearâs guide and launch event are presented by City National Bank, Volleyball star Hayley Hodson had it all, until blows to her head changed everything. A Los Angeles court said Viacom was entitled to an injunction against Netflixâs attempts to pursue the New York-based media giantâs contracted employees. Internationally, there are also other players including Bertelsmann AG and Sony. âBut she was here, trying to fix these media platforms.â. This spring, independent members of CBSâ and Viacomâs boards began discussing a merger. âItâs awesome. In 2005 Viacom International was split into two companies, Viacom and CBS Corp. Redstone was chairman of both the new Viacom and of CBS, controlling a majority of both firms. She has been a member of the Company Town team for more than a decade. The merger highlights a long effort to unite CBS and Viacom as the media companies seek to compete with giants like â¦ The following is a list of major assets that are owned by ViacomCBS. At least that is the way it was about five years ago. Tesla called her a criminal. Business is brisk for the archival company as movies, TV and recording industries dig deeper into their past. The deal would give the oft-criticized BET programming lineup a major boost and provide Viacom-which already owns the urban-oriented broadcaster United Paramount Network-with another avenue to reach the fast-growing African-American population. Since reentering her fatherâs life in late 2015, Redstone has vanquished more than a dozen men whom her father put in power. But by the summer of 2015, those relations had frayed. Sumner Redstone built his empire from a small regional chain of movie theaters. Meg James is a corporate media reporter for the Los Angeles Times, covering the business of television and digital disruption in the entertainment industry. Hereâs whatâs due on the small screen for subscribers. Its related international division is ViacomCBS Networks International. Herzer sued, claiming Redstone had lost his mental capacity. âThere was almost willful destruction of MTV, VH1 and all of those iconic brands,â said Jeffrey Sonnenfeld, a professor at Yale School of Management. The company also boasts this summerâs top cable series, âYellowstone.â, Shari Redstone âcould have taken her wealth and gone on her merry way, investing in Facebook or elsewhere, without worrying about the destruction of these iconic enterprises,â Sonnenfeld said. ViacomCBS delivers premium content to important, diverse audiences through television, streaming and digital platforms, studio production, live events, and more. Shari Redstone was named chairwoman of the board for ViacomCBS, In a reversal, state says playgrounds can remain open under COVID-19 restrictions, Philippe Daumanâs plan to sell Paramount Pictures, Warner Bros. to release movies on HBO Max for the next year, Fired Warner Bros. marketing executive sues studio over discrimination, âboys clubâ culture, Defining Stanford volleyball star Hayley Hodsonâs post-concussion syndrome diagnosis, What is a COVID-19 compliance supervisor? It owns household names like Paramount Pictures, Comedy Central, MTV, and others known the world over. In a statement, Viacom lashed â¦ And they announced that Shari Redstone would become chairwoman of the new entity, ViacomCBS Inc., joining a small number of women overseeing a major U.S. company. She halted a plan to sell the storied Melrose Avenue movie studio, Paramount Pictures, and now she has corrected what she long considered a mistake â her fatherâs separation of CBS and Viacom in 2006. âShari has definitely proven herself as an effective strategist, someone who is willing to go to whatever lengths she needs to get something done,â said Jordan Matthews, an entertainment attorney with Weinberg Gonser in Los Angeles. Warner Bros.â 2021 movies: What will debut on HBO Max and in theaters? In terms of websites, Viacom owns, of course, Nick.com. It wasnât until the elder Redstoneâs health deteriorated that she was able squeeze back into her fatherâs orbit. Viacom, which many believe lacks the scale necessary to compete in a merged-up media world, has recently completed bolt-on acquisitions like Vidcon, WhoSay and Awesomeness. A merger of CBS (NASDAQ:VIAC) and Viacom is reportedly inching ever closer to becoming a reality. Walt Disney Co. shutting down influential Radio Disney after two decades. Walt Disney Co. is closing its childrenâs radio programming station and laying off staff amid a broader restructuring of its operations. The changing economics have created a sense of urgency among major Hollywood studios to fortify themselves by bulking up. But some on CBSâ board were wary. Rashida Jones will replace Phil Griffin as head of MSNBC. Sheâs suing Stanford. Who owns the media. That girlfriend, Sydney Holland, left in September 2015. Viacom was owned by CBS. Throughout the 1980s and 1990s, Viacom made several acquisitions, including MTV Networks (former Warner-Amex Satellite Entertainment) and Paramount Communications. Her fight could be a milestone for employeesâ rights. Investigative reporter Ronan Farrow revealed allegations of several women who accused Moonves of sexual misconduct in the 1980s and 1990s. Viacom and CBS reunite in $12 billion deal, but challenges abound. The Redstone family investment firm, National Amusements Inc., controls nearly 80% of CBSâ and Viacomâs voting shares. AT&Tâs John Stankey defends WarnerMedia decision to put Warner Bros.â entire 2021 film slate on HBO Max, saying the company had to do something bold. But blows to the volleyball starâs head changed the course of her life. Viacom Inc., the media powerhouse that owns CBS and the MTV and Nickelodeon cable TV channels, is paying about $2.3 billion in stock for BET Holdings and will assume $570 million in debt. https://en.wikipedia.org/wiki/List_of_assets_owned_by_Viacom Over the years, Shari Redstone would tell her tough-as-nails father that she possessed 80% of his brains, 90% of his passion and 100% of his obsessive personality. The deal is subject to regulatory approvals, but the new company is already taking shape. In 1986, Viacom was acquired by its present owner, theater operator company National Amusements. In its most recent fiscal quarter, Viacom hit a milestone when it reported that domestic advertising had increased for the first time in five years. The entertainment industry is facing intense pressure from technology behemoths Walt Disney Co., Netflix Inc., Amazon.com Inc. and Google, which introduced popular alternatives to traditional television. California coronavirus shutdown will last through Christmas as deaths explode past 20,000. He invested in programming and made acquisitions to broaden Viacomâs reach. âShari has been pretty adamant about this combination,â said Daniel A. Lyons, a professor at Boston College Law School. Some experts say a harm-reduction approach to public health â educating people how to mitigate risk in their activities â would be more effective than all-or-nothing pleas to abstain from contact with other people. Copy Link â¦ Her lawsuit against the company is testing the limits of the arbitration agreements that bind millions of American workers. Tuesdayâs agreement, he said, âvindicates the strategy that sheâs had.â. CBS Consumer Products — Licensing and merchandising unit focused on the United States market, founded in 2009. âI am really excited to see these two great companies come together so that they can realize the incredible power of their combined assets,â Redstone said in a statement Tuesday. More Stories By Jill Shari Redstone, who divides her time between Boston, Connecticut and Los Angeles, spent weeks assisting her father at his home and successfully defending the case against Herzer. So when Dauman proposed selling Paramount to a Chinese company in early 2016, Shari Redstone dug in for a fight. Redstone, as board chair, joins an elite group of women. CBS and Viacom have agreed to merge. Shari Redstone, who is divorced with three children, is the daughter of Sumner Redstone, who owns 80% of the controlling company National Amusements ViacomCBS will be run by Viacom CEO Bob Bakish, with Joseph Ianniello, now the acting CEO of CBS, becoming chairman and CEO of CBS, according to a statement from the company. Launched in 1995, the website mainly serves as an online portal for Nickelodeon content, offering online â¦ InterStar Releasing (51% controlling stake), Viacom Music – music publisher affiliated with BMI, Simon451 – speculative fiction and fantasy imprint, DreamWorks Distribution, LLC – theatrical distribution arm of DreamWorks Pictures and DreamWorks Animation, DW Funding LLC – library holder of live-action DreamWorks films, Melange Pictures, LLC – library holder of, Wilshire Court Productions – made-for-TV movie division; library sold to CBS Corporation in 2006, George Cheeks (CEO, CBS Entertainment Group), This page was last edited on 9 December 2020, at 16:14. 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