VIACOM
ORG
VIACOM
Viacom, the media giant, announced almost a year ago that it would split itself in two. For the chairman, Sumner M. Redstone, it was a bold step to try to create value from a company whose stock price had been treading water, as well as a frank acknowledgment that his previous strategy had failed. But instead of rising after the announcement, Viacom's stock price initially fell by some 20 percent then recovered slightly before the spinoff, which took place last week with much fanfare.