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overview
holdings
landmarks
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landmarks
This chronology is indicative only. It covers -
Context is provided by the broader communications and
media timeline on this site.
antecedents
1908 Hodgkinson forms Paramount studios
1916 Zukor and Lasky's Famous Players cinema chain buys
Paramount
1924 Simon & Schuster founded
1927 Columbia Broadcasting System (CBS)
formed
1928 Paley buys CBS
1938 CBS buys Columbia Records (formed 1889)
1944 Marshall Field III
buys Simon & Schuster and Pocket Books
1949 US Department of Justice forces Paramount and other
studios to spin off their cinema operations. United Paramount
Theatres is established (later buys ABC
television network)
beginnings
1954 Sumner Redstone gains control of National Amusements
Inc (NAI), builds multinational cinema group
1963 CBS Records sets up first European branch, in UK
1965 CBS buys New York Yankees
1966 Gulf+Western conglomerate buys Paramount, one of
Hollywood’s original movie studios
1968 CBS-Sony Records founded in
Japan as a joint venture
Viacom
1971 Viacom formed when FCC rules force CBS to spin off
some of its cable TV and program-syndication operations
1977 unsuccessful bid by Storer
to buy Viacom for US$55.7m
1979 Viacom buys WAST-TV (later WNYT-TV)
1980 buys Egmont Sonderling broadcasting group (no relationship
with Egmont)
1982 Tri-Star Pictures formed by CBS television, HBO
(Home Box Office) and Columbia
Pictures
1982 Viacom donates WWRL radio to United Negro College
Fund
1985 Laurence Tisch buys 25% of CBS to thwart Turner
bid
1985 Blockbuster video rental chain founded
1987 NAI buys majority interest in Viacom
1987 Blockbuster acquired by waste magnate Wayne Huizenga
1988 Sony Corp buys CBS Records' global business for US$2
billion
1988 Blockbuster buys Video-Library chain, increasing
its stores to 415
1990 Blockbuster adds Applause Video, Video Express, Movie
Emporium, and other chains - stores now exceed 1,500
1992 Blockbuster becomes largest video renter in UK after
purchase of Cityvision chain of 875 stores
1992 Blockbuster buys two of US biggest music retailers,
Sound Warehouse and Music Plus
1992 Blockbuster begins music 'Megastores' in joint venture
with Virgin Retail Group
1993 Blockbuster buys 35% of Republic Pictures
1993 Blockbuster invests US$600m in Viacom, telecommunications
group NYNEX invests US$1.2bn
1993 Paramount and Chris-Craft Industries announce plans
to launch new broadcast network
1993 Paramount Publishing announces plans to acquire Macmillan
Publishing Company USA
Viacom absorbs Blockbuster
1994
Viacom announces multi-transponder, multi-satellite agreement
with PanAmSat
1994 Simon & Schuster acquires German computer book
publisher Markt & Technik
1994 Showtime Networks and Castle Rock Entertainment enter
into multi-year, 50-picture exclusive output deal
1994 Blockbuster invests US$1.25bn in Viacom, which then
buys Blockbuster for US$8.4bn
1994 Viacom and Paramount announce US$8.4bn merger after
Viacom wins bidding war with USA Networks/QVC
1994 Viacom sells its 33% of Lifetime Television to Hearst
Corporation and Capital Cities/ABC (subsequently acquired
by Disney)
1994 sells Madison Square Garden for US$1.075bn
1994 sells KRRT-TV San Antonio, WLFL-TV Raleigh/Durham
and WTXF-TV Philadelphia; buys WGBS-TV Philadelphia, WBFS-TV
Miami and WSBK-TV Boston
1994 sells Prentice Hall Law & Business to Wolters
Kluwer
1995 acquires 20% stake in Byron Preiss Multimedia
1995 launches Sams.net
1995 buys Atlanta station WVEU-TV, sells KSLA-TV in Shreveport
1995 acquires controlling interest in Grupo Mexicano de
Video, which operates 100 video stores
1995 spins off its cable systems to Tele-Communications
(TCI)
1995 launches The MTV Radio Network
1995 sells Spelling Entertainment
1995 Westinghouse Electric
buys CBS
1996 Viacom buys the Waite Group
1996 Blockbuster introduces stored value giftcard
1996 MTV launches 24-hour programming in India
1996 first Blockbuster Video store opens in Ecuador
1996 Viacom Consumer Products and the Rusty Pelican Company
launch Bubba Gump Shrimp Co, first theme restaurant inspired
by a film (Forrest Gump)
1996 Jossey-Bass (JB) acquires Pfeiffer & Company
1996 Nickelodeon buys Barron Entertainment, producer of
kids' programming in Australia
1996 Radio MTV premieres in Los Angeles
1996 Blockbuster acquires 50 retail outlets from Video
Chile and 22 from Video Argentina
1996 Blockbuster buys Denmark's largest home video retailer,
Christianshavn Video (31 stores)
1996 first Blockbuster stores open in El Salvador and
Portugal
1996 Paramount Stations Group (PSG) and Hubbard swap WNYT-TV,
Albany and WHEC-TV, Rochester for WTOG-TV, the UPN affiliate
in Tampa
1996 Viacom purchases 50% of MTV Brasil from Abril
1996 Blockbuster acquires Xtra-vision Group (141 stores
in Eire, 76 in N Ireland)
1996 Viacom announces it will exercise its option for
50% ownership interest in UPN
1996 CBS buys Infinity radio broadcasting
and outdoor advertising group for US$4.7bn
1996 Blockbuster acquires all retail operations of Video
Invest Espanola SA (VIESA)
1997 Westinghouse Electric changes name to CBS and accelerates
sale of traditional businesses such as power-generation
equipment
1997 Spelling Entertainment sells its majority interest
in Virgin Interactive Entertainment
1997 Blockbuster opens first store in Taiwan
1997 MTV Australia launched
1997 Viacom's equity in Spelling increased to 80%
1997 Paramount Stations Group swaps stations in Tacoma
and St Louis with Cox Broadcasting
and Belo
1997
Paramount sells ten-station Radio Group to Chancellor
Media (later acquired by Jacor and Clear)
1997
South Park
1997 Paramount Stations Group increases to 17 stations,
making it 6th-largest broadcasting group in US
1997 CBS buys American Radio Systems chain for US$2.6
billion, increasing its radio stations to 175
1997 Viacom sells interest in USA Networks to Seagram
1997 Cinamerica Theaters joint venture of Viacom and Time
Warner sold to WestStar Holdings
1998 Las Vegas Star Trek theme park opens
1998 Spelling Films closes
1997 Blockbuster buys 39 Video Flicks stores in Australia
1997 Blockbuster Gemini joint-venture to develop 65 stores
in Poland
1997 sale of educational, professional and reference publishing
businesses to Pearson for US$4.6bn,
with Viacom retaining the consumer operations (including
the Simon & Schuster name)
1998 CBS sells 17% of Infinity Broadcasting for US$2.9
billion
Viacom buys CBS
1999 CBS buys King World Productions, leading television
program syndicator, for US$2.5bn
1999 Viacom buys CBS for US$50bn
1999 floats Blockbuster, selling 18.5% stake
2001 buys The Music Factory (TMF) from Wegener
2003 buys AOL Time Warner 50% interest in Comedy Central
for US$1.225bn
2004 buys Sportsline.com
2004 buys CBS affiliate KOVR-TV 13 Sacramento from Sinclair
2004 spins off 81.5% stake in Blockbuster to shareholders
2005 sells WNDY-TV Indianapolis and WWHO-TV Columbus to
LIN
2005 agrees to sell KAUT-TV Oklahoma City to New York
Times
2005 agrees to pay US$1.6bn for DreamWorks SKG
spins off CBS
2006 spins off publishing, themepark, broadcasting and
some cable interests as CBS Corp
2006 CBS and Warner Brothers Entertainment
announcement that UPN and WB networks would combine to
form youth-oriented CW network
2006 CBS Corp reports loss of US$9.1bn in write down of
value of radio and television businesses
2006 Viacom buys online gaming community site Xfire for
US$102m
2006 MTV agrees to buy Harmonix Music Systems for US$175m
2007 Viacom agrees to sell its Famous Music unit (publishing
catalogue with rights to 125,000 songs) to Sony/ATV Music
Publishing for US$370m
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