History of CBS
History of the commercial TV and radio network / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about History of CBS?
Summarize this article for a 10 year old
CBS Broadcasting, Inc. (CBS; originally the Columbia Broadcasting System) is an American English-language commercial broadcast television and radio network owned by Paramount Global through the CBS Entertainment Group. Along with ABC and NBC, CBS is one of the traditional "Big Three" American television networks.
CBS was founded as a radio network in 1927 and then expanded to television in the 1940s. Although it primarily remained an independent company throughout most of the 20th century, Paramount Pictures temporarily held a 49 percent ownership stake from 1929 to 1932. However, in 1995 the Westinghouse Electric Corporation acquired the company, becoming CBS Corporation (after selling certain assets). In 2000, CBS sold again to the original incarnation of Viacom (formed as a spin-off of CBS in 1971, which acquired Paramount Pictures in 1994). In 2005, Viacom split itself into two separate companies and re-established CBS Corporation. However, National Amusements controlled both CBS and the second incarnation of Viacom until 2019, when both companies agreed to re-merge to become ViacomCBS. In 2022, ViacomCBS changed its name to Paramount Global after Paramount Pictures.