Viacom (short for Video &amp; Audio Communications) was an American media company. It was founded in New York City in 1971. The company existed until 2005 when the company changed its name to CBS Corporation. Viacom made television programs and television networks. Networks created by Viacom including CBS, UPN, MTV, CMT, MTV2, Nickelodeon, Nick Jr., Nicktoons TV, The N and Nickelodeon Games and Sports for Kids. The company was owned by Columbia Broadcasting System until 1973. After this, it was an independant company. In 1986, it was sold to National Amusements. In March 2005, Viacom announced that it would be splitting into two companies. This happened on December 31, 2005. The existing Viacom was renamed CBS Corporation, and a new company named Viacom was created.