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ViacomCBS

Headquarters: 1515 Broadway
New York, NY 10036
Phone: (212) 258-6000
Employees: 22,100
CEO: Bob Bakish
Stock Symbol: VIACA

Website: http://www.viacomcbs.com

Career Site

ViacomCBS is a leading media company owning some of the world's best-known TV and cable networks including CBS, Showtime, MTV, VH1, Nickelodeon, Comedy Central, BET, and Smithsonian Channel. The company also owns movie studio Paramount Pictures and free streaming service Pluto TV.

The company relaunched its streaming service on March 4, 2021 and named it Paramount+. It was formerly known as CBS All Access.

ViacomCBS reported revenues of $25.2 billion in 2020, down 6% from the previous year. Net earnings for the year were $2.3 billion, down 27% from 2019.

In 2020, the company agreed to sell CNET Media Group and Simon & Schuster book publishing division.

History

Viacom originated as CBS Films, the television syndication division of CBS. In 1971, the division was renamed VIACOM (Video & Audio Communications), and in 1973 it was spun off, amid new FCC rules forbidding television networks from owning syndication companies (the rules were later repented).

In 1985, Viacom bought Warner-Amex Satellite Entertainment, which owned MTV and Nickelodeon, renaming the company MTV Networks. Viacom also received Showtime Networks, Inc. (which included Showtime and The Movie Channel), which has retained its original name, Showtime Networks, Inc. In 1986, Viacom was bought by movie theater owner National Amusements, which brought Sumner Redstone to the company. Redstone made a string of large acquisitions in the early 1990s, announcing plans to buy Paramount Communications, parent of Paramount Pictures, in 1993, and buying the Blockbuster Video chain in 1994.

The Blockbuster acquisition gave Viacom access to large television holdings controlled by Aaron Spelling's company, Spelling Entertainment; along with his own productions (such as The Love Boat and Beverly Hills 90210), Spelling controlled the pre-1973 ABC and NBC back catalogs by way of Worldvision Enterprises and Republic Pictures. After these acquisitions, Viacom owned many movie and television production and syndication units, which were slowly integrated into Paramount; many TV shows previously distributed by Viacom, Republic or Worldvision have since gained Paramount closing logos.

In 1999, Viacom made what has been its biggest acquisition so far, by announcing plans to buy its former parent CBS. The merger was approved in 2000, bringing cable channels TNN (now Spike TV) and Country Music Television (CMT) under Viacom's wing, as well as CBS's production units and TV syndicators Eyemark (formerly Group W) and King World. As of this writing, CBS's production unit and King World (which has since absorbed Eyemark) are operating under their own names, as parts of CBS, and no attempt has been made thus far to move them around in Viacom's corporate structure; however, TNN and CMT were merged into MTV Networks almost immediately.

Viacom originaly spun off CBS on January 1, 2006.

In December 2019, Viacom and CBS Corporation merged back together again.

Sumner Redstone, founder of Viacom and longtime chairman of the company, died in August 2020 at the age of 97.

Company Benefits

Benefits include:

- Enhanced paid time off including parental leave, caregiving leave, military leave and more
- Competitive 401(k) plan with a company match

- Comprehensive health, dental, vision and life insurance plans for employees and their families, including domestic partners
- Health saving/flexible spending accounts
- A plethora of health and wellness programs for all fitness levels and lifestyles
- Family-centered programs such backup childcare and eldercare, adoption and family building assistance
- Commuter program including bicycle commuter reimbursement
- Employee Assistance Program
- Pet insurance
- Tuition assistance
- Employee discounts and perks

Updated April 22, 2021

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