Editing Viacom (2005–2019) (section)

===Early years===
[[File:Viacom-old.svg|thumb|Final old separate [[Viacom (1952–2005)|Viacom]] logo, used from 1990 to 2005]]
In March 2005, the [[Viacom (1952–2005)|first Viacom]] announced plans of exploring the option of splitting the company into two publicly traded companies because of a stagnating stock price<ref>{{Cite web|url=http://www.cnn.com/2005/BUSINESS/06/14/viacom.split/index.html|title=CNN.com – Viacom board opts to split company – Jun 14, 2005|website=www.cnn.com|access-date=2019-04-30}}</ref> and the rivalry between [[Les Moonves]] and [[Tom Freston]], longtime heads of [[CBS]] and [[Viacom Media Networks|MTV Networks]], respectively. Also, the company was facing issues after [[MTV]] was banned from producing any more [[Super Bowl]] halftime shows after the [[Super Bowl XXXVIII halftime show controversy|Super Bowl Halftime Show controversy]] in 2004.

After the departure of [[Mel Karmazin]] in 2004,<ref name=":0">{{Cite web|url=https://money.cnn.com/2004/06/01/news/fortune500/karmazin/index.htm|title=Karmazin out at Viacom; Redstone plans departure – Jun. 1, 2004|website=money.cnn.com|access-date=2019-04-30}}</ref> [[Sumner Redstone]], who served as chairman and chief executive officer, decided to split the offices of president and chief operating officer between Moonves and Freston.<ref name=":0" /> Redstone was set to retire in the near future, and a split was seen as a creative solution to the matter of replacing him.<ref name=":0" /> It was also intended to provide alternative investments that would be more appealing to investors: one a high cash flow, lower growth company that could afford to pay a substantial dividend and the other a growing company that would have greater investment opportunities and therefore would not be expected to pay a dividend.

The second Viacom was created by Redstone and headed by Freston. It consisted of [[BET Networks]], MTV Networks, and [[Paramount Pictures]].<ref>{{Cite book|url=https://books.google.com/books?id=0588ekqiqQAC&q=viacom+comprises+BET+Networks%2C+MTV+Networks%2C+and+Paramount+Pictures+Corporation.&pg=RA1-PA479|title=Strategic Management: An Integrated Approach|last1=Hill|first1=Charles|last2=Jones|first2=Gareth|date=2007-10-22|publisher=Cengage Learning|isbn=978-0618894697|language=en}}</ref> It started trading on January 3, 2006.<ref>{{Cite web |last=Alfano |first=Sean |date=January 3, 2006 |title=CBS, Viacom Formally Split |url=https://www.cbsnews.com/news/cbs-viacom-formally-split/ |archive-url=https://web.archive.org/web/20140310124526/https://www.cbsnews.com/news/cbs-viacom-formally-split/ |archive-date=March 10, 2014 |access-date=March 5, 2023 |website=CBS News}}</ref>