Paramount Pictures were spun-off to a sister company under the Viacom name. The second iterations of Viacom and CBS Corporation commenced trading on January 3, 2006.

At the end of 2008, due to financial troubles, owners Sumner Redstone and Shari Redstone sold $400 million of nonvoting shares in National Amusements. In October 2009, the company sold almost $1 billion of its interest in the stock of CBS and Viacom