A Very Brief History Of CBS (UIB)

The history of CBS starts in 1927 when United independent Broadcasters Inc (UIB) in Chicago, Illinois. In the same year, the company known as Columbian Phonograph invests in UIB and thus Columbia Phonograph Broadcasting Systems is founded. This is the beginning of the CBS name which is now known around the world. In 1928, due to too much cost, the company is sold to wealthy investor William S. Paley, who then changed the name to the Columbia Broadcast Systems, or CBS. On January 18th, 1929, the Columbia broadcasting systems airs on the radio for the first time. Its success grew fast and by 1930 the company employed nearly 300 workers and had total sales of $7.2 million, and by 1935 CBS was the largest radio station in the united states. In 1938 , with 117 stations, CBS purchases the american …show more content…
In 1987, CBS sells its Columbia records to Sony Entertainment for $2 Billion. In 1995 after years of losses, CBS sells itself to Westinghouse Electric Corporation for $5.4B. After its purchase of CBS, Westinghouse begins transforming into CBS by selling its industrial businesses off. And by late 1996, Westinghouse pays $4.9B for Infinity Broadcasting Corporation, one of the largest radio station network in the US. December 1, 1997, Westinghouse changes its name to CBS Corporation and moves its HQ from Pittsburgh to NYC. From 1998 on, CBS Inc. is known as CBS Corp. and in 1999 CBS is acquired by Sumner Redstone's media giant Viacom Inc. for $45B. In 2005 Viacom splits itself and re-establishes CBS Corporation, both of which are still controlled by Redstone through National Amusements. In 2006 CBS Corporation and Warner Brothers Entertainment launch The CW Network as a joint-venture. Finally, as of 2014, CBS has global revenues of $14B, owns-and-operates 16 stations and has affiliation agreements with 222