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Viacom Divides Into Two Companies

24 June 2015 12:28 PM, PDT

Trek production company now separate from Upn, CBSThe board of directors for Viacom Inc. has voted to split the company into two separate entities. The move separates Paramount studios, which has created the Star Trek movies and television shows, from Upn, the network that recently cancelled "Star Trek: Enterprise," and CBS, according to CNN.com.In March, Viacom announced it was considering such a move to free the more profitable cable networks and filmed entertainment businesses from the less profitable broadcast networks. On June 14, the board finalized the decision, naming Sumner Redstone the chairman of the two entities.The first company, which will include the cable networks, the Paramount production and home video units, will retain the name Viacom Inc. and be headed by Co-Chief Operating »

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