US media owner, Viacom, has spilt itself into two companies, CBS Corp and Viacom, with investors getting one CBS share and one Viacom share for each two of Viacom they own.
The division will see Viacom own the MTV cable business and the Paramount Pictures studio, while CBS owns Simon & Schuster, Showtime and Paramount Parks.
Sumner Redstone will be chairman of both companies, with the role of chief executive going to Thomas Freston at Viacom and Leslie Moonves at CBS.
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