Entertainment giant Viacom Inc. made things official Tuesday, saying its board has unanimously approved a split of the company into two separately traded entities to be known as Viacom Inc. and CBS
Corp. The split, proposed a few months ago by Viacom chairman and CEO Sumner Redstone, is expected to be completed in first-quarter 2006. Redstone will serve as chairman and controlling shareholder of
both entities.
Read the whole story at The Hollywood Reporter, June 15, 2005 »