Viacom (short for Video & Audio Communications) was a media company was founded in New York City in 1971, and existed until 2005 when the company changed its name to CBS Corporation. Viacom produced television programs and television networks, including CBS, UPN, MTV, CMT, MTV2, Nickelodeon, Nick Jr., Nicktoons TV (later renamed Nicktoons in 2003), The N, Nickelodeon Games and Sports for Kids, and others. It was originally owned by Columbia Broadcasting System until 1973 it became the independent owner. In 1986, it was sold to National Amusements. In March 2005, Viacom announced that it would be splitting into two companies. On December 31, 2005, Viacom split into two companies. The existing Viacom was renamed CBS Corporation, and a new company named Viacom was created.