Details of US media giant Viacom's spilt into two discrete entities have been filed with the Securities and Exchange Commission.

The demerger, to be completed early next year, will offer holders of every Viacom share a half-share in each of the two new businessea. Shari Redstone, daughter of the company's veteran founder, Sumner (82), will be installed as non-executive vice chairwoman of both units.

Redstone senior's rationale for the split is to revive his empire's flagging share value, which has fallen 10% this year after an 18% plummet in 2004.

The new Viacom will include the company's cable and entertainment brands, including MTV Networks, BET and Paramount Pictures. It will be led by Thomas Freston.

The second unit, CBS, headed by Leslie Moonves, will include CBS TV, UPN, Paramount TV and book publisher Simon & Schuster.

Data sourced from New York Times; additional content by WARC staff