CBS intends to sell Parks division

CBS has announced intentions to sell off its Paramount Parks division, acquired in 1994 under the company’s prior Viacom name. The division runs five parks nationwide. No major changes are expected at the parks this summer due to the sale, although it has not been stated

whether licensing rights to the Paramount/CBS properties on which many of the rides are based would be included with the deal. If the sale goes through, it would leave CBS as the only one of the three major American TV broadcast networks without theme park ties, as ABC is owned by Disney and NBC is now part of NBC/Universal.

A recent statement by CBS states simply, “[the Paramount Parks division] is a great asset with solid management but the division no longer fits within the company’s core focus on media.”