Paramount Global (formerly ViacomCBS)

Business in Russia

Main article: ViacomCBS Networks International

2011: Opening of a representative office in Moscow

In 2011, Viacom International Media Networks (a division of Viacom) opened a representative office in Moscow, responsible for the markets of Russia and the CIS countries, Ukraine and the Baltic states.

History

2024:3% staff cut

On February 13, 2024, the American media conglomerate Paramount Global announced a reorganization due to lack of money. The initiative provides for a decrease in the number of personnel by about 3% and a reduction in costs. This is expected to help in the implementation of the company's strategy aimed at improving business operations.

The upcoming changes were announced by Paramount Global CEO Bob Bakish. The layoffs will affect units around the world, he said. In total, approximately 800 people will lose their jobs, including a number of workers outside the United States. According to CNN, some prominent CBS News journalists will be among the abbreviated employees.

Paramount

Paramount Global owns a variety of assets including CBS, Paramount Pictures, Pluto TV, Paramount + and cable networks such as Nickelodeon, BET and Comedy Central. The decrease in the number of personnel occurs, among other things, due to the fact that the media company is considering options for merging with other market participants. In particular, preliminary negotiations as of mid-February 2024 were held with Warner Bros. Discovery. In addition, it was reported that the head of National Amusements (parent structure of Paramount Global), Shari Redstone, discussed the possibility of selling the business with David Ellison, CEO of Skydance Media.

It is also expected that the reorganization will help improve the activities of a number of divisions. Paramount Global will focus its resources on "the most sought-after and resonant franchises, films and TV series" and produce fewer local and international original materials, Bakish said. In addition, Bakish said the company should "become more frugal and spend less money."^[1]

2022: Renamed Paramount Global

On February 16, 2022, during a Q4 earnings presentation, the corporation announced that it would change its name to Paramount Global.

2019: CBS Corporation and Viacom re-merge

Company logo

The corporation (as ViacomCBS Inc.) was formed by re-merging CBS Corporation and Viacom on December 4, 2019.

Viacom (abbreviated from Video & Audio Communications) is an American media conglomerate that includes cable and satellite television networks MTV Networks and BET, the Nickelodeon channel, and also creates and distributes films (Paramount Pictures).

2008: Top 20 internet giants by size of internet audience

Internet companies by audience size

2005: Split into CBS Corporation and Viacom

In 2005, the company split into CBS Corporation and Viacom. CBS Corporation incorporated CBS, The CW, CBS RADIO, Simon & Schuster, CBS Outdoor, Showtime, CBS Television Studios, CBS Television Distribution and CBS Studios International, CBS College Sports Network, and Paramount Parks entertainment parks.

In turn, Viacom included MTV Networks, BET Networks, Paramount Pictures Film Studio and Paramount Pictures Home Entertainment, and listed its shares on the New York Stock Exchange.

2000: Merger with CBS Corporation

In 2000, Viacom made the largest deal in its history ($39.8 billion), announcing a merger with CBS Corporation, which allowed Viacom to gain an expanded list of its television channels at the expense of TNN (now Spike TV) and Country Music Television (CMT), which became part of MTV Networks.

1971: Separation from Columbia Broadcasting System Corporation

The birth of Viacom began with the creation of CBS Films, Inc. a CBS television division established in 1952. On July 4, 1971, Viacom split from Columbia Broadcasting System, Inc. (CBS) as a public company in its own right. The name of Viacom comes from the merger of words - Video & Audio Communications.

1965: Paramount Pictures logo update

The logo of the Paramount Pictures film company on the day it was originally written, 1965.