Paramount Media Networks[1] (formerly known as Warner Cable Communications, Warner-Amex Satellite Entertainment, MTV Networks, Viacom Media Networks, and ViacomCBS Domestic Media Networks) is an American mass media division of Paramount Global that oversees the operations of many of its television channels and Internet brands. The company itself is a segment of ViacomCBS that handles control of their television network operations. It was originally formed in 1984 as MTV Networks until 2011 when it was renamed Viacom Media Networks. On December 4, 2019, it finally adopted its current name following the formation of ViacomCBS. Most of its networks have various international operations and also operate divisions that handle original show and film production and distribution. On February 16, 2022, it finally adopted a brand-new current name following the formation of Paramount Global during the company's Q4 earnings presentation, investments and stock plummeted by 20 percentage of name change. Its related international division is Paramount Networks International.
Background[]
Warner Cable Communications was founded in 1977 by Warner Cable, itself a divsion of Warner Communications, to launch QUBE, an interactive cable television network. Seeing the potential in the creation of new cable networks, Warner Cable divested QUBE's biggest brands, Star Channel, Pinwheel and Sight on Sound, into nationwide outlets. Star Channel began by satellite in January 1979 and was renamed The Movie Channel by the end of the year. The original Channel C-3, by then known as Pinwheel, became Nickelodeon in April 1979. As a result of these actions, Warner Cable Communications would then be rebranded as Warner-Amex Satellite Entertainment Company, becoming a joint venture between Warner Cable and American Express.
In 1980, Warner-Amex formed a joint venture with Cablevision's Rainbow Media division to launch Bravo, a cable network dedicated to arts and films, on December 1, 1980. Full control of the channel, however, was sold to Rainbow Media in 1984; NBC would acquire Bravo in 2003, and the channel is now currently owned by Comcast's NBCUniversal.
On August 1, 1981, Sight on Sound was relaunched as MTV.
In 1983, concerned by the strategic and financial failure of its pay-TV venture The Movie Channel (started to reap the benefits Time Inc. was having with HBO and Cinemax), WASEC established a joint venture with Viacom, merging TMC with their premium movie network Showtime to form Showtime/The Movie Channel, Inc.; WASEC, however, had no operational involvement in the joint venture.
History[]
ViacomCBS Domestic Media Networks logo
On June 25, 1984,[2] Warner Communications made the decision to divest Nickelodeon, MTV, and VH-1 into a new public corporation called MTV Networks.[3] A year later, Warner would acquire 50% stake from American Express before Viacom buyout.[4]
On August 27, 1985, Warner sold 31% of MTV Networks to Viacom, with Warner also selling 19% of its Showtime/The Movie Channel, Inc. joint to Viacom as well.[5][6]
In November 1985, Viacom bought the remaining 69% of MTV Networks from Warner and American Express for $326 million.[7] The acquisitions was completed on May 20, 1986.[8] After acquiring MTV Networks and Showtime, Viacom became a mass media company rather than simply a distribution company.
In 2003, MTV Networks assumed full ownership of Comedy Central from AOL Time Warner.
In January 2006, the remnants of MTV Networks and Showtime Networks were separated following Viacom's split into two entities: CBS Corporation, which retained CBS, UPN, Simon & Schuster and Showtime Networks (Showtime, The Movie Channel, and Flix), and a spun-off company under the Viacom name, which took ownership of Paramount Pictures, BET Networks and MTV Networks (Comedy Central, MTV, Nickelodeon, and VH1). MTV Networks was renamed Viacom Media Networks in 2011.
In the fall of 2012, media analysts began to report that ratings among some of Viacom's leading brands in the U.S were experiencing declines in viewership.[9][10] MTV, Comedy Central and Nickelodeon were of most concern to investors as the three account for roughly 50% of Viacom's operating profit, estimated David Bank of RBC Capital Markets.
In 2017, Viacom announced a five-point restructuring plan, in which the company would pour most of its resources behind six "flagship brands". These were MTV, Comedy Central, Nickelodeon, Nick Jr., BET, and Paramount Pictures.[11][12][13][14] In February 2017, cable channels CMT and TV Land were moved from the Kids and Family Group to the Global Entertainment Group under Kevin Kay, joining up with Spike TV.[15] During the same month, it was announced that Spike would be relaunched as Paramount Network in 2018, aligning with the namesake film studio and being positioned as Viacom's main general entertainment outlet.[16][17]
In October 2018, Kevin Kay was announced to be leaving his position as head of the Entertainment Group. CMT was transferred from the Entertainment Group to the Music Group under president Chris McCarthy, with his exit. Executive Kent Alterman would take charge of Paramount Network and TV Land to go with his current leadership of Comedy Central and Bellator MMA.[18]
In 2019, after acquiring the free streaming service Pluto TV, Viacom would launch several channels on the service branded after its Media Networks and company–owned IP.[19][20][21][22]
In August 2019, Viacom announced that it would merge with CBS Corporation, reuniting the two entities under the new name ViacomCBS.[23][24] The merger closed in early December 2019.[25][26] Announced on November 11, 2019, as part of the re–merger, the Media Networks division was renamed ViacomCBS Domestic Media Networks, and reorganized. MTV, VH1, CMT and Logo were reorganized into the "Entertainment & Youth Group",[27] with the addition of Comedy Central, Paramount Network, Smithsonian Channel, and TV Land. BET Networks was merged with Showtime Networks under CEO David Nevins, who also temporarily gained oversight of Pop TV (formerly co-owned with Lionsgate);[28] Pop TV was transferred to the Entertainment & Youth Group on January 15, 2020.[29]
Operations[]
Current:
- Nickelodeon
- BET
- MTV
- Paramount Network
- VH1
- Comedy Central
- TeenNick
- NickMusic
- CBS Sports Network
- CBS
- The CW
- Logo
- Showtime
- CMT
- TV Land
- The Movie Channel
- Flix
- BET Gospel
- BET Her
Past:
References[]
- ↑ Goldsmith, Jill (February 15, 2022). "ViacomCBS To Rebrand, New Name Is ‘Paramount’".
- ↑ "Warner takes MTV, Nickelodeon public", Broadcasting Publications, Inc., June 25, 1984.
- ↑ "BUSINESS PEOPLE ; A Chief Is Named By MTV Networks". The New York Times (July 19, 1985).
- ↑ "Warner to buy out American Express; MTV to go private (page 29)", Broadcasting Publications, Inc., August 12, 1985.
- ↑ "Viacom to Buy Warner Stake In Cable Units", The Washington Post, August 27, 1985.
- ↑ "Viacom gets its MTV (page 50)", Broadcasting Publications, Inc., September 2, 1985.
- ↑ Fabrikant, Geraldine. "VIACOM CHIEF LEADS GROUP'S BUYOUT BID (Published 1986)", The New York Times, 1986-09-17. (in en-US) “In November 1985, Viacom acquired MTV Networks for $326 million in cash and warrants. One-third of MTV was publicly owned; the rest was owned by Warner Communications and the American Express Company. At the same time, Viacom bought 50 percent of Showtime, the pay television service, that it did not already own for $184 million.”
- ↑ "Viacom has bought MTV and Showtime/TMC", Broadcasting Publications, Inc., May 20, 1986.
- ↑ Jannarone, John (October 28, 2012). "Audiences Fall for MTV, Comedy Central". The Wall Street Journal.
- ↑ Flint, Joe (October 10, 2012). "MTV has big ratings issue, analyst warns".
- ↑ Lieberman, David (February 9, 2017). "Viacom CEO Supports Paramount And Non-Core Networks – But For How Long?". Deadline Hollywood.
- ↑ "Viacom Stock Rises on Restructuring". Multichannel (February 9, 2017).
- ↑ "Viacom Unveils Five-Point Turnaround Plan (MESA)" (February 9, 2017).
- ↑ "Viacom outlines five point turnaround plan". TBI Vision (February 9, 2017).
- ↑ "Viacom Restructure: CMT, TV Land Moved to Kevin Kay's Global Entertainment Group", The Hollywood Reporter, February 1, 2017. (in en)
- ↑ Andreeva, Nellie (February 9, 2017). "Spike President On Channel's Rebranding As The Paramount Network". Deadline Hollywood.
- ↑ Andreeva, Nellie (February 9, 2017). "Spike To Change Name & Become The Paramount Network In Viacom Rebranding". Deadline Hollywood.
- ↑ "Kevin Kay Exits Paramount Network as Viacom Reorganizes Cable Channels", Variety, October 25, 2018. (in en)
- ↑ "Viacom Acquires Free Streaming Platform Pluto TV for $340 Million" (en). The Hollywood Reporter.
- ↑ "Viacom Announces Completion of Pluto TV Acquisition" (en). www.businesswire.com (2019-03-04).
- ↑ Spangler, Todd (2019-04-29). "Viacom Launching 14 Free Channels on Pluto TV, Sets Broad Digital Originals Slate" (en). Variety.
- ↑ Peterson, Tim (16 April 2019). "Viacom will debut 15 channels on Pluto TV to bolster its upfront pitch".
- ↑ "CBS, Viacom Strike Deal to Recombine". The Hollywood Reporter (August 13, 2019).
- ↑ "CBS and Viacom To Combine" (August 12, 2019).
- ↑ Steinberg, Brian (October 28, 2019). "Viacom, CBS Set to Merge in Early December".
- ↑ Weprin, Alex (October 29, 2019). "Viacom-CBS Merger Now Expected to Close in 'Early December'".
- ↑ "ViacomCBS shakes up its content leadership teams following merger" (en-US). TechCrunch.
- ↑ Viacom and CBS Announce Content and Digital Leadership
- ↑ Littleton, Cynthia (January 15, 2020). "ViacomCBS Shuffles Oversight of Pop TV, Bellator MMA Amid Post-Merger Restructuring (EXCLUSIVE)".