CBS group: chronology

Chronology

This chronology is indicative only. It covers -

• antecedents (1927)
• beginnings (1928)
• the golden age of television? (1946)
• diversification (1966)
• back to basics (1985)
• acquired by Westinghouse (1995)
• engulfed by Viacom (1999)

Context is provided by the broader communications and media timeline on this site and by the related profiles regarding Westinghouse and Viacom.

Antecedents

1853 Steinway & Sons founded

1890 Columbia Phonograph founded

1927 music agent Arthur Judson creates United Independent Broadcasters (UIB) with 16 stations, with support from William Paley of La Palina Cigar and Columbia Phonograph

Beginnings

1927 UIB restructured as Columbia Phonograph Broadcasting System (CPBS) with 16 affiliate stations

1928 restructured as Columbia Broadcasting System (CBS) with 47 affiliate stations. Paley acquires major stake

1939 CBS buys WKRC Cincinnati

1932 NBC and CBS allow prices to be mentioned in radio commercials

1938 CBS buys Columbia Records (formed 1889)

1939 CBS sells WKRC to Taft

1940 CBS demonstrates color television in New York

1941 first commercial black & white television broadcast in New York

1949 buys KCBS San Francisco

1951 first coast to coast live tv in US

1958 buys WCAU Philadelphia (founded 1922) from Philadelphia Bulletin Publishing Co

Biversification

1966 buys toy business

1963 CBS Records sets up first European branch, in UK

1965 CBS buys New York Yankees

1966 establishes Cinema Center Films

1968 CBS-Sony Records founded in Japan as a joint venture

1972 CBS buys Steinway & Sons

1973 sells New York Yankees

1981 Westinghouse Broadcasting & Cable buys TelePrompter cable tv group

1982 Tri-Star Pictures formed by CBS, HBO (Home Box Office) and Columbia Pictures

1984 CBS buys 33% stake in SportsChannel regional sports networks with Washington Post

1984 Trintex videotext service joint venture established by IBM, CBS and Sears Roebuck (becomes Prodigy online service provider in 1988)

Back to basics

1985 Ted Turner, Jesse Helms and Ivan Boesky make unsuccessful bids for CBS

1985 CBS sells St Louis tv station to Viacom

1985 sells general books division of Holt Rinehart Winston

1985 sells Steinway & Sons for US$48m

1985 sells 33% of TriStar Pictures

1986 cigarette, tobacco, cinema and insurance conglomerate Loews buys 25% stake in CBS

1986 CBS sells stake in Trintex, later acquired by AOL

1987 CBS book publishing arm sold for US$500m

1986 music publishing arm sold for US$125m

1987 stake in SportsChannel sold

1988 CBS records sold to Sony for US$2bn

1988 CBS buys WCIX from TVX

Acquired by Westinghouse

1995 Westinghouse Electric buys CBS

1996 CBS buys Infinity radio broadcasting and outdoor advertising group for US$4.7bn

1997 Westinghouse Electric changes name to CBS and sells traditional businesses such as power-generation equipment and light bulbs

1997 CBS buys American Radio Systems chain for US$2.6 billion, increasing its radio stations to 175

1998 CBS sells 17% of Infinity Broadcasting for US$2.9bn

1998 sells WEEI-AM, WRKO-AM, WWTM-AM, WAAF-FM and WEGQ-FM in Boston to Entercom

1998 buys WYUU-FM and WLLD-FM in Tampa from Entercom

1999 CBS buys King World Productions, leading television program syndicator, for US$2.5bn

1999 Infinity buys Outdoor Systems billboard group for US$8.7bn

Engulfed by Viacom

1999 Viacom buys CBS for US$50 billion - see more detailed Viacom chronology

2006 Viacom spins off broadcast, themepark, publishing and some cable tv interests as CBS Corporation

2006 Cedar Fair agrees to buy Paramount Parks Inc. for US$1.24bn