Complex sentence: In 1997, Westinghouse changed its name to CBS Corporation, moved its headquarters to New York, and, in 1998, created a new licensing subsidiary under the Westinghouse Electric Corporation name.
Split into simpler sentences: In 1997, Westinghouse changed its name to CBS Corporation and moved its headquarters to New York. In 1998, the company created a new licensing subsidiary under the Westinghouse Electric Corporation name.