Does Viacom Own BET?
Technically, no. Viacom itself no longer exists as an independent entity. However, BET is a part of the media empire now controlled by Paramount Global.
The History of Viacom and CBS
Understanding the relationship between Viacom, CBS, and BET requires a trip back in time. Their history is a tangled web of mergers, spin-offs, and strategic repositioning within the media landscape.
CBS, short for Columbia Broadcasting System, has roots stretching back to the early days of radio. It became a television broadcasting giant, synonymous with American culture.
Viacom, originally “Video Programs International,” emerged in the 1950s as a syndication arm of CBS. It grew throughout the 1970s and 80s, acquiring cable channels like MTV and Nickelodeon.
In 1999, Viacom, having grown significantly, actually acquired its former parent company, CBS. This made the newly merged Viacom one of the biggest media conglomerates globally.
However, in 2005, this union was short-lived. Viacom split itself, creating CBS Corporation and a separate Viacom. This separated the broadcasting power of CBS from Viacom’s cable and film assets;
This division remained for over a decade, but in 2019, driven by the rapidly changing media landscape and the rise of streaming, CBS and Viacom once again merged. This brought them together under the name ViacomCBS, and later rebranded as Paramount Global in 2022.
Paramount Global and its Subsidiaries
Today, Paramount Global stands as one of the world’s leading entertainment conglomerates, boasting a vast portfolio of brands and properties. This media giant resulted from the complex history of mergers and acquisitions, most notably the reunion of CBS and Viacom.
Paramount Global operates through several key divisions, each housing well-known subsidiaries. These include⁚
- CBS Entertainment Group⁚ This division includes the CBS Television Network, with its news and sports programming, along with CBS Studios, responsible for producing popular television shows.
- Paramount Media Networks⁚ This division is home to a collection of cable channels, including MTV, Nickelodeon, Comedy Central, BET, VH1, and Paramount Network. These networks cater to diverse audiences, offering everything from music and kids’ programming to comedy and reality shows.
- Paramount Pictures⁚ One of Hollywood’s oldest and most respected film studios, Paramount Pictures produces and distributes blockbuster movies, boasting a library filled with cinematic classics.
- Paramount Streaming⁚ This division focuses on the company’s direct-to-consumer streaming services, prominently featuring Paramount+, a platform offering a combination of original content, live sports, and a vast library of movies and shows. It also includes Pluto TV, a free, ad-supported streaming service.
- Simon & Schuster⁚ A globally recognized publisher of books in various genres, Simon & Schuster contributes to Paramount’s diverse media empire.
Through these subsidiaries, Paramount Global holds a powerful position in the media and entertainment industry. It owns and operates television networks, produces and distributes films and television shows, manages streaming platforms, and publishes books, reaching a global audience and influencing popular culture.
BET Networks⁚ A Part of the Paramount Family
BET Networks, founded in 1980٫ has held a unique position in the media landscape٫ focusing on African American audiences with its programming across cable television٫ streaming٫ and digital platforms. The network’s journey intertwined with Viacom٫ and now Paramount Global٫ shaping its evolution and reach.
Viacom acquired BET Holdings in 2000 for a reported $2.3 billion. This acquisition brought BET under the umbrella of Viacom’s growing portfolio of cable channels, which already included MTV, Nickelodeon, and VH1.
Under Viacom (and later ViacomCBS and Paramount), BET expanded its offerings. The network launched spin-off channels, including BET Her, BET Jam, and BET Soul, catering to specific interests within its target audience. It also ventured into scripted and unscripted television shows, award shows celebrating Black excellence, and documentaries exploring relevant social issues.
Today, BET Networks remains a significant part of the Paramount Global family. It continues to produce content that reflects and celebrates Black culture, reaching audiences domestically and internationally. While Viacom no longer exists as a distinct entity, its legacy in shaping BET’s growth within a major media conglomerate persists under the Paramount Global banner.
Conclusion⁚ The Ownership of BET Today
While the name “Viacom” might spark confusion, BET’s ownership structure is clear. BET is not owned by Viacom directly, as Viacom ceased to exist as a separate company in 2019 when it merged with CBS Corporation to form ViacomCBS. This entity then rebranded itself as Paramount Global in 2022.
Therefore, BET is currently owned by Paramount Global, a media and entertainment giant holding a diverse collection of networks, studios, and streaming services. Paramount’s expansive portfolio encompasses renowned brands such as CBS, Showtime, Paramount Pictures, Nickelodeon, MTV, Comedy Central, and, notably, BET.
BET’s position within Paramount ensures its continued influence and reach in providing content catered to African American viewers. Though corporate structures have shifted, BET’s commitment to its target audience remains a core aspect of its identity under the Paramount Global umbrella.