Viacom is an Merican media conglomerate with varios worldwide interests in cable and satellite television networks, it owns the MTV Networks and BET. Viacom also has an interest in movie production and distribution and are the owners of Paramount Pictures and DreamWorks movie studios. The chaiman of the company is Sumner Redstone and, through National Amusements, the majority shareholder.
The new Viacom is considered to be the "high-growth" side of the much larger former Viacom. The former Viacom was renamed CBS Corporation, from which this firm was split off on December 31st, 2005. CBS, not Viacom, retains control of the over-the-air broadcasting, TV production, and publishing assets formerly owned by the larger company. However, National Amusements remains the common majority shareholder of both firms.
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