Paramount Pictures then acquired the other 49 percent of CBS in 1929, but the Great Depression eventually forced the studio to sell its shares back to the network in 1932. By September 1928, Paley became the network's majority owner with 51 percent of the business. With the Columbia record label out of ownership, Paley rebranded the network as the Columbia Broadcasting System. They installed Paley, an in-law of the Levys, as president of the network. In early 1928, Judson and Columbia sold the network to Isaac and Leon Levy, two brothers who owned WCAU, the network's Philadelphia affiliate, as well as their partner Jerome Louchheim. In April of that year, the Columbia Phonograph Company, parent of the Columbia record label, invested in the network, resulting in its rebranding as the Columbia Phonographic Broadcasting System ( CPBS). The network has its origins in United Independent Broadcasters Inc., a radio network founded in Chicago by New York City talent agent Arthur Judson in January 1927. It can also refer to some of CBS's first demonstrations of color television, which were held in the former Tiffany and Company Building in New York City in 1950. It has also been called the Tiffany Network which alludes to the perceived high quality of its programming during the tenure of William S. It is also sometimes referred to as the Eye Network in reference to the company's trademark symbol which has been in use since 1951. It has major production facilities and operations at the CBS Broadcast Center and the headquarters of owner Paramount Global at One Astor Plaza (both also in that city) and Television City and the CBS Studio Center in Los Angeles. Its headquarters is at the CBS Building in New York City. ViacomCBS changes its name to Paramount GlobalĬBS Broadcasting Inc., commonly shortened to CBS, the abbreviation of its former legal name Columbia Broadcasting System, is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainment Group division of Paramount Global. Viacom splits into second CBS Corporation and ViacomĬBS Corporation and Viacom re-merge to form ViacomCBS Gulf+Western renamed as Paramount Communications ![]() Viacom buys full ownership of Showtime & MTV Networks Viacom is spun off from CBS as a separate company ![]() Gulf+Western acquires Desilu and renames it Paramount Television & CBS Films becomes CBS Enterprises Columbia Phonographic Broadcasting Systemĭesilu is founded & CBS distributes its television programsĬBS creates the CBS Television Film Sales divisionĬBS Television Film Sales renamed as CBS Films.
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