Paramount Global

Paramount Global, formerly known as ViacomCBS Inc., is an American multinational mass media and entertainment conglomerate. It is controlled by National Amusements and headquartered in Midtown Manhattan, New York City. The company was formed on December 4, 2019, through the merger of CBS Corporation and Viacom.

Paramount Global owns various properties in the entertainment industry. Its main divisions include Paramount Pictures, the CBS Entertainment Group, media networks (such as MTV, Nickelodeon, BET, Comedy Central, VH1, CMT, Paramount Network, and Showtime), and streaming services (including Paramount+, Showtime OTT, and Pluto TV). The company also has an international division that manages international versions of its pay TV networks and owns region-specific assets in different countries. Some of Paramount Global's subsidiaries include Bellator MMA, Simon & Schuster (a publishing company), and VidCon (a conference for online video content creators).

As of 2022, Paramount Global operates over 170 networks and reaches approximately 700 million subscribers in 180 countries. The company generates revenue through various sources, including licensing, broadcasting, publishing, streaming, and television. On February 16, 2022, ViacomCBS Inc. changed its name to Paramount Global.

In 2024, Paramount entered into merger discussions with Skydance Media, with a preliminary agreement reached in July 2024 for Skydance to acquire National Amusements and merge with Paramount to form a new entity, tentatively called "New Paramount." The merger is expected to close in the first half of 2025.

Paramount Global continues to be a major player in the media and entertainment industry, producing films, television programs, music, and books, and providing various services to consumers worldwide.

Paramount Global began its journey in 1914 as Paramount Pictures, originally known as the Famous Players Film Company. The company was founded by Adolph Zukor, with the vision of producing films that would appeal to a wide audience. Paramount quickly rose to prominence, becoming one of Hollywood’s leading film studios. In 1916, it merged with Jesse L. Lasky’s Feature Play Company, creating Famous Players-Lasky Corporation, which would later adopt the Paramount Pictures name.

In 1929, Paramount Pictures formed a strategic alliance with CBS Inc. by acquiring a 49% stake in the newly established Columbia Broadcasting System (CBS). This investment helped CBS grow as a television network and laid the foundation for future collaborations between the two companies. However, Paramount sold its stake back in 1932 due to financial difficulties stemming from the Great Depression.

In 1966, Paramount was acquired by Gulf + Western Industries, a conglomerate that expanded the studio’s operations beyond film production. In 1989, the company was renamed Paramount Communications, reflecting its broader role in the entertainment industry, which included television and other media ventures.

In 1971, CBS launched a new company called Viacom to manage its growing portfolio of television channels and syndication rights. Viacom quickly became a dominant player in the cable television industry, acquiring popular channels such as MTV, Nickelodeon, and Showtime.

In 1987, Viacom became a fully independent company under the control of National Amusements, Inc., a media company owned by the Redstone family. This acquisition marked a turning point for Viacom, allowing it to expand further into television and film.

In 1994, Viacom made a significant move by acquiring Paramount Communications, reuniting Paramount Pictures with a larger media conglomerate. This acquisition strengthened Viacom’s position as a leader in the media and entertainment industry, giving it control of Paramount’s vast film library, television assets, and other divisions.

Meanwhile, CBS Corporation was acquired by Westinghouse Electric Corporation in 1995, establishing CBS as an independent entity again, separate from Viacom. Both CBS and Viacom operated independently until the 2000 merger, when Viacom, led by Sumner Redstone, acquired CBS for $35 billion. This created a large media conglomerate with a presence across television networks, cable channels, and film studios.

In 2006, Viacom and CBS Corporation split once more into two separate companies, both of which continued to operate under the ownership of National Amusements. Paramount Pictures remained a part of Viacom’s operations, while CBS Corporation maintained its television network and other related assets.

In 2019, Viacom and CBS decided to merge again, recognizing the benefits of combining their resources in a rapidly changing media landscape. The newly formed company took the name ViacomCBS, combining both brands’ rich heritage and their collective influence across film, television, and streaming services.

On February 16, 2022, ViacomCBS rebranded as Paramount Global to emphasise the strength of the Paramount brand and its global reach. Paramount Global operates several key divisions, including Paramount Pictures, the CBS Entertainment Group, and a range of popular television networks such as MTV, Nickelodeon, BET, Comedy Central, and Showtime. Additionally, the company has expanded its presence in the streaming sector, with services like Paramount+, Showtime OTT, and Pluto TV.

In 2024, Paramount Global entered into merger talks with Skydance Media. By July 2024, an agreement was reached for Skydance to acquire National Amusements and merge with Paramount, creating what is now referred to as "New Paramount". The merger is expected to be finalised in 2025, with David Ellison, CEO of Skydance, taking on a leadership role in the new entity.

Today, Paramount Global remains a major force in the media and entertainment industry, producing films, television content, and managing a range of streaming services. The company’s ongoing focus on innovation and global expansion ensures its continued relevance in an ever-evolving media landscape.

Paramount Global’s mission is to create and deliver high-quality entertainment that connects with audiences around the world. The company aims to produce films, television shows, and digital content that engage viewers across all platforms, including traditional broadcasting, cable, and streaming services. Paramount Global focuses on innovation, creativity, and inclusivity, ensuring its content reflects diverse perspectives and resonates with global audiences. By leveraging its extensive media portfolio and embracing new technologies, the company is committed to shaping the future of entertainment while maintaining its legacy of excellence in storytelling.

Paramount Global’s vision is to be a leading global entertainment company that inspires and connects people through exceptional content. The company aims to build a future where its films, television shows, and digital platforms reach audiences everywhere, offering entertainment that is accessible, inclusive, and meaningful. Paramount Global envisions a world where it continues to push the boundaries of creativity, embracing new technologies and storytelling methods. By staying ahead of industry trends, the company strives to remain at the forefront of the media landscape, delivering engaging content that resonates with viewers across all platforms.

Paramount Global has consistently been recognised for its excellence in both the entertainment industry and workplace environment. In 2024, the company was named one of the Best Places to Work in Los Angeles and awarded a Silver Medal by Ecovadis for its sustainability efforts. Paramount has also earned recognition in previous years, including being named Best Places to Work in Los Angeles in 2023, 2021, 2020, and 2019. The company won the NACD Packaging Award for the Jimmy Coco Tanning Package in 2023 and was awarded the Golden Pail Award in 2023. In 2021 and 2020, Paramount’s Project Sunscreen and Replace SR were honoured in the NACD Packaging Awards. Paramount Global also received PPG’s Excellent Supplier Award in 2010 for its consistent quality in services.

Paramount Global, as a major media and entertainment conglomerate, offers a wide range of products and services that cater to diverse audiences. With a primary focus on film and television, including streaming services, Paramount Global delivers compelling content across various platforms. Here are some of the key products and services offered by Paramount Global:

• Film Production: Paramount Global, through its subsidiary Paramount Pictures, produces and distributes feature films for theatrical release. It has a rich history of creating blockbuster movies that captivate audiences worldwide.
• Television Programming: Paramount Global develops and produces a diverse range of television shows, catering to various genres and formats. These programs are broadcast on traditional television networks as well as streaming platforms.
• Streaming Services: Paramount Global operates streaming platforms that provide on-demand access to a vast library of movies, TV shows, and original content. These services allow subscribers to stream their favourite Paramount films and television series anytime, anywhere.
• Cable Networks: Paramount Global owns and operates several cable networks, including MTV, Nickelodeon, Comedy Central, BET, and Showtime. These networks offer a wide array of programming, spanning music, comedy, reality TV, dramas, and more.
• Digital Media: Paramount Global engages in digital media production and distribution, leveraging online platforms and digital technologies to reach a broader audience. It creates digital content tailored for social media, websites, and other digital platforms.
• Merchandise and Consumer Products: Paramount Global licenses its intellectual property, characters, and brands to create a range of consumer products. These include merchandise, apparel, toys, collectables, and other branded items that fans can purchase to show their support for their favourite movies and TV shows.
• Live Events and Experiences: Paramount Global organises and promotes live events and experiences, such as movie premieres, fan conventions, immersive exhibitions, and interactive entertainment. These events provide fans with unique opportunities to engage with their favourite franchises and content.
• International Distribution: Paramount Global has a strong international presence and engages in the distribution of its content globally. It partners with various international distributors and broadcasters to bring its movies and television shows to audiences around the world.

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