The second incarnation of the CBS Corporation (the first being a short-lived rename of the Westinghouse Electric Corporation) was an American multinational media conglomerate with interests primarily in commercial broadcasting, publishing, and television production which was formed as the legal successor to the first incarnation of Viacom on January 1, 2006. It was one of two companies which succeeded the first Viacom, alongside the second incarnation of Viacom; both were controlled by National Amusements, a theater company controlled by billionaire Sumner Redstone. The spin-off was structured so that CBS Corporation would be the legal successor to the first Viacom, with the second Viacom being an entirely separated company.CBS Corporation comprised the over-the-air television (CBS and The CW) broadcasting, television production and distribution, publishing, pay-cable, basic cable, and recording assets that were previously owned by the first Viacom. It was the world's eighth largest entertainment company in terms of revenue, and headquartered at the CBS Building in Midtown Manhattan, New York City.The second merger between CBS Corporation and Viacom, creating the combined company ViacomCBS, was announced on August 13, 2019; the merger was completed on December 4, 2019.