Summary:

Viacom, the media conglomerate, will split into, well, Viacom, and CBS Corporation. The first one will include MTV Networks and Paramount, a…

Viacom, the media conglomerate, will split into, well, Viacom, and CBS Corporation. The first one will include MTV Networks and Paramount, and the second one will have CBS properties including UPN, Sportsline and others.

On the earnings conference call today, not much hard data on anything related to digital media, but both CEO designates devoted a lot of time talking about the multi-platform and digital media future. (Listen to the conference call here)

Both of the companies are actively looking for digital media related acquisitions, and hope that the company split (meant to drive up stocks for the two companies as well) will help them pay for these acquisitions.

Viacom CEO Tom Freston said this on wireless, on the conference call: “Our wireless business, from content distribution to integrated sponsorship to ad spend is well over the $100 million mark, and that’s just domestically.”

On the MTV Networks side, the company has launched broadband channels for MTV, Nickelodeon and VH1, and plans to launch similar online channels for Comedy Central and MTVu soon, said Freston.

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