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Viacom (Nyse - VIA) (Nyse - VIAb)(Nyse - VNV), short for "Video & Audio Communications", is a United States-based media conglomerate with interests primarily in, but not limited to, cinema and cable television. As of 2010, it is the world's fourth-largest media conglomerate, behind The Walt Disney Company, Time Warner and News Corporation.
The current Viacom was created on December 31, 2005 as a spinoff from CBS Corporation, which changed its name from Viacom at the same time. CBS, not Viacom, retains control of the over-the-air broadcasting, TV production, outdoor advertising, subscription pay television (Showtime) and publishing assets (Simon & Schuster) formerly owned by the larger company. However, National Amusements remains the common majority shareholder of both firms. Predecessor firms of CBS Corporation include Gulf + Western, which later became Paramount Communications Inc., and Westinghouse Electric Corporation.
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