[5][6] In November 1985, Viacom announced that it had plans to buy the remaining 69% of MTV Networks from Warner for $326 million,[7] and the acquisition was completed on May 20, 1986.

[10] In 2003, MTV Networks assumed full ownership of Comedy Central from AOL Time Warner.

In the fall of 2012, media analysts began to report that ratings among some of Viacom's leading brands in the U.S. were experiencing declines in viewership.

[11][12] MTV, Comedy Central and Nickelodeon were of most concern to investors as the three account for roughly 50% of Viacom's operating profit, estimated David Bank of RBC Capital Markets.

In 2017, Viacom announced a five-point restructuring plan, in which the company would pour most of its resources behind six "flagship brands".

These were MTV, Comedy Central, Nickelodeon, Nick Jr. Channel, BET, and Paramount Pictures.

[17] During the same month, it was announced that Spike would be relaunched as Paramount Network in 2018, aligning with the namesake film studio and being positioned as Viacom's main general entertainment outlet.

Executive Kent Alterman would take charge of Paramount Network and TV Land to go with his current leadership of Comedy Central and Bellator MMA.

[21][22][23][24] In August 2019, Viacom announced that it would merge with CBS Corporation, reuniting the two entities under the ViacomCBS name.

MTV, VH1, CMT and Logo were reorganized into the "Entertainment & Youth Group",[29] with the addition of Comedy Central, Paramount Network, Smithsonian Channel, and TV Land.

BET Networks was merged with Showtime Networks under CEO David Nevins, who also temporarily gained oversight of Pop TV (formerly co-owned with Lionsgate);[30] Pop TV was transferred to the Entertainment & Youth Group on January 15, 2020.

[32] In 2022, MTV Entertainment Group partnered with Second Chance Studios to help formerly incarcerated individuals launch media careers.

On April 29, 2024, President and CEO Bob Bakish was replaced by led by Brian Robbins, George Cheeks, and Chris McCarthy.

[36] McCarthy was legally designated the company's "interim principal executive officer" in order to comply with SEC regulations stipulating that one person must conduct "the normal course of business".

[37] By July 2, 2024, Skydance renegotiated the deal and reached a preliminary agreement to acquire National Amusements and merge with Paramount.

2Channel started as Ha!, merged with Time Warner's The Comedy Channel the following year, became entirely owned by Viacom in 2003.

7Channel space was previously held by Noggin (a joint venture with Sesame Workshop) before being replaced with the Nick Jr. Channel in 2009.

10Channel space was previously held by Nickelodeon Games and Sports for Kids from 1999 to 2007, and a 24-hour version of Noggin's The N brand from 2007 to 2009.

Through its Networks division, Paramount also owns internet properties, such as MTV News and AwesomenessTV.

[46] The company has owned various other internet properties including virtual pets website Neopets; Flash game websites AddictingGames.com and Shockwave.com; online content production company Atom Entertainment; along with RateMyProfessors.com, GameTrailers, and iFilm, all of which have been shut down or sold off during 2000s and 2010s.