Wednesday, June 15, 2005
Viacom to Divide
Under a plan announced to stockholders Tuesday, Viacom will operate as two unique businesses: Viacom, chaired by Tom Freston, will control the company's cable holdings including: MTV, MTV2, VH-1 and its digital siblings; the Nickelodeon networks; BET; Showtime and its digital networks; Spike TV and CMT.
The CBS Corporation will operate the CBS Network; UPN; the CBS Television Stations group (including KPIX/KPIX-DT and KBHK/KBHK-DT San Francisco; KOVR/KOVR-DT Stockton-Sacramento; and KMAX/KMAX-DT Sacramento); Infinity Broadcasting (with its six stations in Sacramento, seven each in San Francisco and Fresno); CBS News; Westwood One; and Viacom Outdoor. Leslie Moonves will oversee CBS.