Definition:
CBS Corporation was an American mass media and entertainment company that operated from 2005 to 2019. It was primarily involved in the ownership of broadcast television, radio, publishing, and cable television networks.
Overview:
CBS Corporation was formed on January 6, 2005, as a result of the split of Viacom into two separate publicly traded companies: CBS Corporation and a reconstituted Viacom Inc. The split aimed to allow each entity to focus on distinct business segments. CBS Corporation retained assets such as the CBS broadcast network, CBS Television Studios, CBS News, Showtime Networks, CBS Radio (sold in 2017), Simon & Schuster (sold in 2020, after corporate restructuring), and various digital media properties.
The company operated as an independent entity until December 4, 2019, when it re-merged with Viacom to form ViacomCBS, which was later renamed Paramount Global in 2022. During its independent operation, CBS Corporation was one of the largest media conglomerates in the United States, with significant influence in television broadcasting and content production.
Etymology/Origin:
The name "CBS" originates from Columbia Broadcasting System, the network's original name when it was founded in 1927. Although the corporate name evolved over time, the CBS brand remained a central component of the company's identity.
Characteristics:
- Primary industries: Broadcasting, television production, radio (prior to 2017), publishing (until 2020), and premium cable networks.
- Operational scope: Primarily U.S.-based, with international distribution of content.
- Key assets during its existence: CBS Television Network, CBS News, CBS Sports, Showtime, Simon & Schuster, and CBS Studios.
- Corporate structure: Publicly traded on the New York Stock Exchange (NYSE: CBS) until its merger with Viacom.
Related Topics:
- Viacom (1952–2005)
- ViacomCBS (now Paramount Global)
- CBS News
- Showtime Networks
- Simon & Schuster
- Media conglomerates in the United States
- Corporate spin-offs in the media industry