Because they were once part of one media company that was split into two, the newly reunited CBS and Viacom’s assets fit together with little overlap. That little overlap includes TV producti…
. For now, I hear the two studios will continue as separate outfits, CBS TV Studios under CBS CEO Joe Ianniello, and Paramount TV under Paramount CEO Jim Gianopulos who reports to ViacomCBS CEO Bob Bakish.The long-term prospects are unclear. Paramount Television was started by former Paramount Pictures chief Brad Grey, who came from a strong TV background, with the goal of producing series for the premium/streaming marketplace and exploit the Paramount movie library.
TV production is a major growth engine right now as need for original content intensifies. While Disney shut down a film label, Fox2000, after the recent acquisition of Fox assets, the company kept all TV production entities intact — 20th Century Fox TV, Fox 21 TV Studios and ABC Studios/ABC Signature, now part of Disney TV Studios, as well as FX Prods. and FX Searchlight’s TV division.
Over the past 13 years, CBS launched its own film studio, CBS Films, while Paramount Pictures started a TV studio with Paramount Television. CBS Films earlier this year pulled out of the theatrical business, focusing on streaming content. In addition to CBS TV Studios, at the 2006 split CBS Corp. also kept the broadcast network, CBS, and pay cable network, Showtime, while Viacom also got the suite of basic cable networks, led by MTV, Nickelodeon, Comedy Central and BET. CBS Corp had since acquired a basic cable network, Pop, which today was moved to Viacom’s cable group, along with Showtime.
Because of the proliferation of original content, a couple of Viacom’s cable networks over the past year launched their own production arms, most notably MTV Studios.
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