What if Viacom and CBS didn't demerge in 2006?

In late 2005, as a wake of a stagnating stock price and the rivalry between CBS head Les Moonves and MTV Networks head Tom Freston, the Viacom board of directors agreed to split into two new companies: CBS Corporation (comprising CBS, UPN, Infinity Broadcasting, Viacom Outdoor, Showtime Networks and Paramount's television studio) and the new Viacom (comprising MTV Networks, BET Networks and Paramount Pictures).

But what if the board of directors opted for a different solution and kept both companies as a single one?

This theory is interconnected to What if Comcast acquired The Walt Disney Company back in 2004?.

List of changes

 * Viacom opted to sack Tom Freston from his position, appealing to a better environment between Moonves and Freston's successor Philippe Dauman.
 * The current Viacom logo would still be adopted.
 * Viacom would currently consist of seven primary units: CBS Broadcasting, Viacom Media Networks, Showtime Networks, Paramount Pictures, Viacom International Media Networks, CNET and Simon & Schuster.
 * While CBS and Paramount's television production units would still merge with each other, the combined unity would keep the CBS Paramount Television and CBS Paramount Domestic Television names, rebranding later to CBS Paramount Television Studios and CBS Paramount Television Distribution.
 * CBS Films wouldn't likely exist, with its films being produced and distributed by Paramount.
 * Epix wouldn't exist, since Paramount, as well as MGM and Lionsgate, would keep its first-run film output agreement with Showtime.
 * However, Lionsgate would still move later on its first-run film output agreement to Starz.
 * CBS All Access would also include content from Paramount, MTV, VH1, Nickelodeon, Comedy Central, TV Land, BET, CMT and Logo as well.
 * [eventually rename it ViacomCBS in 2019 like IRL or earlier?]

Nickelodeon

 * SpongeBob SquarePants (1999-present)
 * Velocity: The Dark Human Slayer (1999-2003; 2018)
 * As Told By Ginger (2000-2006)
 * The Fairly OddParents (2001-2017)
 * Invader Zim (2001-2006)
 * Intergalactic (2001-2009)
 * ChalkZone (2002-2008)
 * The Adventures of Jimmy Neutron Boy Genius (2002-2006)
 * All Grown Up! (2003-2008)
 * My Life as a Teenage Robot (2003-2009)
 * Danny Phantom (2004-2007)
 * Avatar: The Last Airbender (2005-2008)
 * Catscratch (2005-2007)
 * The X's (2005-2006)
 * El Tigre: The Adventures of Manny Rivera (2007-2008)
 * Gatopardos the Cheetah (2007-2012; 2019)
 * Tak and the Power of Juju (2007-2009)
 * Back at the Barnyard (2007-2011)
 * The Mighty B! (2008-2011)
 * Making Fiends (2008)
 * Fanboy and Chum Chum (2009-2014)
 * T.U.F.F. Puppy (2010-2015)
 * Planet Sheen (2010-2013)
 * The Legend of Korra (2012-2014)
 * Robot and Monster (2012-2015)
 * Teenage Mutant Ninja Turtles (2012-2017)
 * Sanjay and Craig (2013-2016)
 * Breadwinners (2014-2016)
 * Luke: Dark Spirit Hunter (2015-present)
 * Harvey Beaks (2015-2017)
 * Pig Goat Banana Cricket (2015-2018)
 * The Loud House (2016-present)
 * Quest of the Bold (2016-present)
 * Flytrap: Savior of All (2017-present)
 * Bunsen is a Beast (2017-2018)
 * Young Cupid (2017-present)
 * ROBLOX: The Series (2017-present)
 * Welcome to the Wayne (2017-2019)
 * Occhi Rossi (2017-present)
 * The Adventures of Kid Danger (2018)
 * Rise of the Teenage Mutant Ninja Turtles (2018-present)
 * The Miserable Adventures of Riley (2018-present)
 * Pinky Malinky (2019-present)
 * Holiday Forces (2019-present)
 * The Good Guys (2019-present)
 * Ferd the Zombie Horse: The Supernatural Adventures (2019-present)
 * Knights of RedCliff: The Series (2019-present)
 * The Casagrandes (2019-present)
 * It's Pony (2020-present)
 * Glitch Techs (2020)
 * Adventures in Wonder Park (2020)
 * Untitled Star Trek series (TBD)
 * Untitled Garfield series (TBD)

Nick Jr.

 * Blue's Clues (1996-2006)

MTV

 * Beavis and Butt-Head (1993-1997; 2011)

Comedy Central

 * South Park (1997-present)
 * Drawn Together (2004-2007)
 * Freak Show (2006)
 * Li'l Bush (2007-2008)
 * Ugly Americans (2010-2012)
 * Brickleberry (2012-2015)

CBS Paramount Television

 * Entertainment Tonight (syndication, 1981-present)
 * Wheel of Fortune (syndication, 1983-present)
 * Jeopardy! (syndication, 1984-present)
 * The Oprah Winfrey Show (syndication, 1986-2011)
 * Late Show with David Letterman (CBS, 1993-2015)
 * JAG (NBC/CBS, 1995-2005)
 * Judge Judy (syndication, 1996-present)
 * 7th Heaven (The WB/The CW, 1996-2007)
 * The King of Queens (CBS, 1998-2007)

Nickelodeon

 * Are You Afraid of the Dark? (1991-2000; 2019)
 * All That (1994-2005; 2019-present)
 * Romeo! (2003-2006)
 * Drake & Josh (2004-2007)
 * Ned's Declassified School Survival Guide (2004-2007)
 * Unfabulous (2004-2007)
 * Zoey 101 (2005-2008)
 * Mr. Meaty (2005-2009)
 * Just for Kicks (2006)
 * Just Jordan (2007-2008)
 * The Naked Brothers Band (2007-2009)
 * iCarly (2007-2012)
 * True Jackson, VP (2008-2011)
 * Big Time Rush (2009-2013)
 * Victorious (2010-2013)
 * Bucket & Skinner's Epic Adventures (2011-2013)
 * Fred: The Show (2012)
 * How to Rock (2012)
 * Marvin Marvin (2012-2013)
 * Sam & Cat (2013-2014)
 * The Haunted Hathaways (2013-2015)
 * The Thundermans (2013-2018)
 * Every Witch Way (2014-2015)
 * Henry Danger (2014-present)
 * Nicky, Ricky, Dicky, & Dawn (2014-2018)
 * Max & Shred (2014-2016)
 * 100 Things to Do Before High School (2014-2016)
 * Bella and the Bulldogs (2015-2016)
 * Make It Pop (2015-2016)
 * Talia in the Kitchen (2015)
 * Game Shakers (2015-2019)
 * WITS Academy (2015)
 * Schhool of Rock (2016-2018)
 * The Other Kingdom (2016)
 * Legendary Dudas (2016)
 * Hunter Street (2017-present)
 * I Am Frankie (2017-present)
 * Knight Squad (2018-2019)
 * Star Falls (2018-present)
 * Cousins for Life (2018-2019)
 * The Substitute (2019-present)

Comedy Central

 * The Daily Show with Jon Stewart (1999-2015)

Trivia

 * As of 2019, there was indeed a remerger between CBS Corporation and Viacom, with the combined company being named ViacomCBS, meaning that part of this theory is becoming real.