Overview

Paramount Global was an American multinational media and entertainment company created in December 2019 through the recombination of CBS Corporation and the second Viacom. The two businesses had separated from the original Viacom in 2005 after a period in which the parent group had combined broadcast television, cable networks, film production, publishing, and other media operations. The 2019 transaction reunited the CBS television and news businesses with Viacom's portfolio of entertainment and youth-oriented networks and with Paramount Pictures, the historic film studio whose corporate ownership had moved through Gulf and Western, Paramount Communications, and Viacom. The company initially operated as ViacomCBS. Its assets included the CBS broadcast network and owned television stations; CBS News and CBS Sports; The CW, initially jointly controlled with WarnerMedia; Paramount Pictures; Paramount Television Studios; the BET Media Group; Paramount Media Networks; and a streaming division containing Paramount+ and Pluto TV. Its principal cable and entertainment brands included MTV, Nickelodeon, Nick Jr., Comedy Central, CMT, Paramount Network, TV Land, VH1, BET, and Showtime. International assets included Telefe in Argentina, Chilevisión in Chile, Network 10 in Australia, Channel 5 in the United Kingdom, and international versions of its branded networks. The group stated that its networks reached hundreds of millions of subscribers across approximately 180 countries. The company was formed during a period of rapid change in the media industry. Traditional broadcasters and cable programmers were facing competition from Netflix, Amazon, Disney+, YouTube, and other direct-to-consumer services. Paramount Global therefore made streaming a central strategic priority. CBS All Access was expanded and rebranded as Paramount+ in 2021, combining CBS programming with Paramount film and television content and additional material from the company's cable brands. Pluto TV supplied a free, advertising-supported streaming service, while Paramount's advertising technology and international distribution businesses supported the broader digital strategy. On February 16, 2022, ViacomCBS changed its corporate name to Paramount Global and generally marketed itself as Paramount. The rebrand was intended to place the Paramount name, already associated with the film studio and its mountain logo, at the center of the combined company's entertainment, television, and streaming activities. During this period the company also pursued portfolio rationalization, including the disposal of CNET Media Group, real estate, The CW interest, and Simon & Schuster, while acquiring or investing in selected production and international assets. Paramount Global remained controlled by National Amusements, the theater-holding company associated with Shari Redstone. Bob Bakish served as president and chief executive officer for most of the company's existence. In April 2024, Bakish left the CEO role and was replaced on an interim basis by an office of the CEO consisting of George Cheeks, Chris McCarthy, and Brian Robbins. The board subsequently appointed Chris McCarthy and Brian Robbins as co-chief executive officers while George Cheeks continued to lead CBS-related operations. Paramount Global's final corporate chapter centered on a proposed combination with Skydance Media and a change in control of National Amusements. The transaction received Federal Communications Commission approval in July 2024 and closed on August 7, creating Paramount Skydance. Paramount Global therefore ceased to exist as an independent corporate entity, although many of its consumer-facing brands, studios, networks, and streaming services continued under the successor company.

History

Paramount Global's corporate history brought together several major strands of American media. Paramount Pictures originated in 1912 as the Famous Players Film Company and later became part of Gulf and Western Industries, which adopted the Paramount Communications name in 1989. Viacom began as a CBS syndication operation: CBS created a television-film-sales division in the 1950s, later reorganized it as CBS Enterprises and then Viacom. The unit was spun off in 1971 because of federal rules concerning television-network ownership of syndication businesses. Viacom subsequently acquired MTV Networks and Showtime and was itself acquired by National Amusements in 1987. Viacom acquired Paramount Communications in 1994. In 1999 it announced a merger with the CBS Corporation, the successor to Westinghouse Electric after Westinghouse had acquired CBS. That combination reunited CBS with its former syndication business, but the resulting company was divided at the end of 2005 into a new CBS Corporation and a new Viacom. The split left CBS with the broadcast network, news, sports, stations, and certain production assets, while Viacom retained Paramount Pictures and a large collection of cable and entertainment networks. National Amusements encouraged the two companies to reunite in 2016, but the initial discussions collapsed. Negotiations restarted in 2018 as both companies faced growing competition from technology companies and large streaming platforms. The process was complicated by disagreements over valuation, management control, and Shari Redstone's influence through National Amusements. CBS Corporation's chief executive Les Moonves opposed the proposed combination and left CBS in 2018 following sexual-misconduct allegations. His departure removed a major obstacle to renewed negotiations. CBS and Viacom reached an agreement in August 2019. The transaction closed on December 4, 2019, creating ViacomCBS, with Bob Bakish as chief executive and Shari Redstone as chair. The new group sought to combine CBS's broadcast, news, sports, and station infrastructure with Viacom's film, television, cable, and international assets. Early portfolio actions included the acquisition of a minority stake in Miramax, the sale of CNET Media Group, real-estate disposals, and plans to sell Simon & Schuster. Streaming became the central strategic theme of the new company. CBS All Access was broadened and renamed Paramount+ in 2021, while Pluto TV served as a free, advertising-supported service. Paramount also used its film library, television production capabilities, sports rights, news operations, and international channels to supply the streaming ecosystem. In February 2022, ViacomCBS adopted the name Paramount Global, seeking to extend the Paramount identity beyond the film studio. The company continued to simplify its portfolio. In 2022, Nexstar obtained operational control and a majority stake in The CW. In 2023, Simon & Schuster was sold to KKR after the proposed Penguin Random House transaction had been blocked on antitrust grounds. Paramount Global also faced persistent pressure concerning streaming profitability, advertising, debt, traditional television declines, and the strategic value of its assets. In 2024, Bob Bakish left the chief executive position and an interim office of the CEO was established. Chris McCarthy and Brian Robbins later became co-chief executives, with George Cheeks continuing to oversee CBS. At the same time, Skydance Media pursued a combination with Paramount Global and National Amusements. The transaction was approved by the FCC in July and closed on August 7, after which Paramount Global was succeeded by Paramount Skydance. Its principal brands and operations continued under the successor structure, but the Paramount Global corporate entity no longer operated independently.

2024
Skydance transaction closes
[1]Paramount Globalen.wikipedia.org
The combination involving Skydance Media and National Amusements closes on August 7, ending Paramount Global's existence as a standalone company.
2023
Simon & Schuster sale completed
[1]Paramount Globalen.wikipedia.org
Paramount Global completes the sale of Simon & Schuster to KKR.
2023
“Popular is Paramount” campaign introduced
[3]Paramount Global Launches “Popular is Paramount”prnewswire.com
The company launched a trade and corporate brand platform celebrating the reach and popularity of its film, television and streaming content.
2022
Corporate rebrand
[1]Paramount Globalen.wikipedia.org
ViacomCBS changes its corporate name to Paramount Global and adopts Paramount as its principal public-facing identity.
2022
The CW changes ownership
[1]Paramount Globalen.wikipedia.org
Nexstar acquires a 75 percent stake in The CW and takes operational control.
2022
ViacomCBS adopts the Paramount Global name
[3]Paramount Global Launches “Popular is Paramount”prnewswire.com
The corporate group placed the Paramount identity at the center of its combined film, television, broadcast and streaming portfolio.
2022
United Kingdom and Ireland streaming launch
[6]Paramount’s UK Streaming Launch Campaignadweek.com
Paramount supported its regional streaming launch with television, cinema, out-of-home, digital, influencer and public-relations activity.
2021
Paramount+ launches
[1]Paramount Globalen.wikipedia.org
CBS All Access is relaunched as Paramount+, combining CBS programming with Paramount and other group content.
2021
Paramount+ launch campaign
[5]Behind the Paramount+ Launch Day Marketing Pushparamount.com
ViacomCBS used a coordinated campaign across its broadcast, cable, social and digital properties to introduce Paramount+ as a broad streaming service.
2020
CNET Media Group sale
[1]Paramount Globalen.wikipedia.org
CBS Interactive sells CNET Media Group, including CNET, ZDNet, GameSpot, TV Guide digital assets, Metacritic, and Chowhound, to Red Ventures.
2019
ViacomCBS is formed
[1]Paramount Globalen.wikipedia.org
CBS Corporation and Viacom complete their merger on December 4, creating ViacomCBS.
2019
Miramax investment
[1]Paramount Globalen.wikipedia.org
ViacomCBS agrees to acquire a 49 percent interest in Miramax and establishes film and television distribution and development arrangements around the studio's library.

Products and positioning

A vertically integrated global media and entertainment group combining broadcast television, premium and basic cable networks, film and television studios, news and sports, and direct-to-consumer streaming. A broad, mainstream entertainment portfolio built around popular film, television, streaming, news, sports and recognizable intellectual property.

Broadcast television and news · 1927
CBS
CBS was Paramount Global's principal American broadcast television operation. It included the CBS network, owned television stations, CBS News, CBS Sports, entertainment programming, and related production and distribution activities. The network supplied a large share of the company's mass-market reach and provided programming, advertising inventory, and content for digital distribution. CBS contributes broadcast programming, news, sports and entertainment content to the wider Paramount portfolio. It also provides promotional reach and programming assets that support the group’s streaming and advertising businesses.
Film studio · 1912
Paramount Pictures
Paramount Pictures was the group's flagship motion-picture studio and the source of the mountain-and-stars identity used in the corporate rebrand. The studio developed, produced, marketed, and distributed theatrical films and supplied titles for licensing and Paramount+. Its library and production relationships were central to the company's strategy of connecting theatrical entertainment with streaming. Paramount Pictures is the film-production and distribution identity most closely associated with the Paramount mountain emblem. It develops, finances, markets and distributes feature films and franchise properties for theatrical and other release windows.
Subscription streaming · 2021
Paramount+
Paramount+ was the company's subscription video-on-demand service. It evolved from CBS All Access and combined CBS television, news, sports, Paramount Pictures films, original series, and programming from brands such as Nickelodeon, MTV, Comedy Central, BET, and Showtime. The service operated in the United States and selected international markets. Paramount+ is a subscription streaming service built around Paramount’s film and television library, original programming, news, live sports and content from related broadcast and cable brands. Its marketing presents the service as a broad, family-oriented entertainment destination.
Advertising-supported streaming · 2014
Pluto TV
Pluto TV was a free, advertising-supported streaming platform offering linear-style channels and on-demand programming. It complemented Paramount+ by targeting viewers who preferred no-subscription access and by providing advertising inventory and a distribution outlet for library and partner content.
Cable television networks
Paramount Media Networks
Paramount Media Networks managed a broad collection of domestic cable brands, including MTV, Nickelodeon, Comedy Central, CMT, Paramount Network, TV Land, VH1, and related services. The portfolio covered music, youth programming, comedy, entertainment, lifestyle, scripted series, and country music, while also supplying content to digital platforms.
Cable television and digital media · 1980
BET Media Group
BET Media Group operated BET and related television and digital properties serving Black audiences. Its activities included original entertainment, news and culture programming, award events, cable distribution, and content licensing.
Premium television · 1976
Showtime
Showtime was Paramount Global's premium television brand, known for original scripted series, films, documentaries, sports, and subscription television services. Showtime programming was also integrated into the company's broader streaming and premium-content strategy.

Controversies

2026
Judge approves Paramount's settlement in lawsuit blocking Warner Bros. Discovery merger
According to Reuters, on September 30, 2026, a judge approved Paramount's recently announced settlement in a lawsuit with several states. Those states had been blocking Paramount's $110 billion merger with Warner Bros. Discovery. The approval of the settlement marked a development in the litigation concerning the proposed merger.
Source
2026
Writer sues Taylor Sheridan and studios over Yellowstone idea
TV writer Lauren J. Salkin filed a lawsuit claiming Taylor Sheridan stole her idea for the series Yellowstone, naming Sheridan, his management company Elevate Entertainment, NBCUniversal, Paramount and others as defendants. She alleges she pitched a series titled Sovereign Nation to Sheridan's representatives between late 2016 and early 2017, and that it was declined on February 1, 2017, while Paramount greenlit Yellowstone within a month.
Source
2020
Hollywood Weekly Magazine sues Netflix over Tiger King name
Hollywood Weekly Magazine filed a lawsuit against Netflix and other companies, claiming trademark and copyright infringement, unfair business practices and unjust enrichment over the Tiger King name. The magazine says it coined the nickname and seeks damages and other relief.
Source
2018
Les Moonves sexual-misconduct allegations
CBS Corporation chief executive Les Moonves left the company after multiple women accused him of sexual assault and other misconduct. The matter generated investigations, governance disputes, and a settlement that delayed renewed merger proposals between CBS and Viacom.
Source

Marketing campaigns

2023Popular is Paramount
United States
The campaign positioned Paramount as a company able to create popular content and extend the commercial reach of popular intellectual property across film, television and streaming. Creative examples included Yellowstone and Top Gun: Maverick.
Outcome. The campaign ran through the summer of 2023 across owned and paid media and high-impact out-of-home placements in New York and Los Angeles.
Source
2022Paramount Global rebrand
Global
The company changed its name from ViacomCBS to Paramount Global and presented Paramount as a unified entertainment identity across film, television, streaming, and international operations.
Outcome. The Paramount name became the principal corporate and consumer-facing identity.
Source
2022Paramount UK streaming launch
United Kingdom · Ireland
Paramount supported its regional streaming launch with a television and cinema spot, out-of-home placements, experiential activity, print, digital, influencer communications and public-relations stunts.
Source
2021Paramount+ launch campaign
United States · Selected international markets
The launch campaign introduced Paramount+ as the successor to CBS All Access and emphasized a combined library of CBS, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, and other content. A coordinated launch effort promoted Paramount+ across CBS and numerous affiliated cable, broadcast, social and digital channels. The creative used characters and properties from the company’s portfolio to explain the breadth of the new service.
Outcome. Paramount+ became the company's principal subscription streaming brand. The company reported extensive promotional activity across its owned networks and social channels, but the supplied materials do not provide an independently verified measure of campaign effectiveness.
Source
Paramount and General Motors co-branded commercial
United States
Paramount and General Motors collaborated on advertising that combined Paramount+ programming with GM’s electric-vehicle positioning. The creative used Paramount’s broader “mountain of entertainment” platform and ran across television and digital inventory.
Outcome. Paramount reported a lift in ad awareness and higher-than-expected impressions, although the supplied source does not state the campaign date.
Source

Brand decisions

2024
Combine with Skydance MediaM&A
Background
Paramount Global and National Amusements pursued a transaction with Skydance Media amid pressure to improve scale, streaming economics, and the company's strategic position.
Action taken
The parties completed a transaction that combined Paramount Global's operations with Skydance Media and changed control of National Amusements.
Aftermath
Paramount Global ceased as an independent corporate entity and its operations continued within Paramount Skydance.
Source
2023
Sell Simon & SchusterM&A
Background
Management viewed the publishing company as less connected to the group's primary film, television, and streaming activities.
Action taken
Paramount Global sold Simon & Schuster to KKR after the earlier Penguin Random House transaction was blocked by a federal judge.
Aftermath
The divestiture removed the publishing unit from Paramount Global's portfolio.
Reported sale consideration. 1600000000 USD (2023)
Source
2022
Adopt the Paramount Global identityStrategy
Background
Management sought to use the internationally recognized Paramount name to unify a diversified group of studios, networks, and streaming products.
Action taken
ViacomCBS changed its corporate name to Paramount Global and generally operated publicly as Paramount.
Aftermath
The corporate rebrand placed the film studio's name and visual identity at the center of the group.
Source
2022
Sell majority control of The CWM&A
Background
The CW faced changing economics in broadcast television and required a different operating model.
Action taken
Paramount and Warner Bros. Discovery agreed to sell a 75 percent majority stake to Nexstar while retaining minority interests.
Aftermath
Nexstar took operational control and Paramount reduced its direct involvement in the network.
Source
2022
Make Paramount the umbrella corporate identityStrategy
Background
Following the recombination of Viacom and CBS, the company sought a more unified identity for its film, television, broadcast, cable and streaming assets.
Action taken
ViacomCBS adopted the Paramount Global name and used Paramount branding to connect its portfolio across platforms.
Aftermath
The Paramount name became the group’s principal corporate entertainment identity, while individual network and service brands continued to operate within the portfolio.
Source
2021
Launch Paramount+Product launch
Background
The company needed a larger direct-to-consumer service to compete with Netflix, Disney+, Amazon Prime Video, and other streaming platforms.
Action taken
CBS All Access was expanded and renamed Paramount+, with programming drawn from CBS, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, and other brands.
Aftermath
Paramount+ became a core distribution channel, while Pluto TV provided a complementary free, advertising-supported service.
Source
2021
Launch Paramount+ as a unified streaming serviceProduct launch
Background
The company sought to compete in subscription streaming by combining its film, television, news, sports and network assets in a single consumer service.
Action taken
Paramount promoted the service through a coordinated campaign spanning its owned television networks, social channels, digital properties and talent.
Aftermath
Paramount+ became a central consumer-facing component of the group’s entertainment strategy.
Source
2019
Recombine CBS and ViacomM&A
Background
Both companies faced increasing competition from global streaming platforms and sought greater scale across content production, distribution, advertising, and direct-to-consumer services.
Action taken
CBS Corporation and Viacom merged to create ViacomCBS, with Bob Bakish as chief executive and Shari Redstone as chair.
Aftermath
The combined company reunited CBS, Paramount Pictures, and Viacom's cable networks and began building a unified streaming strategy.
Source

Recent events

2026.10.06
Reported2026.10.06
Paramount completes $110 billion acquisition of Warner Bros. Discovery[14]派拉蒙完成对华纳兄弟探索约1100亿美元的收购cnbc.com
Paramount Skydance closes its acquisition of Warner Bros. Discovery on Tuesday, Oct. 6, 2026, in a deal valued at an estimated $110 billion on an enterprise basis, taking control of WBD's film studio, TV networks and HBO Max streaming business. The closing follows competing bids, an antitrust lawsuit by state attorneys general and a subsequent settlement.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Unconfirmed
Reported2026.10.02
Paramount and Warner Bros. combination to be named Skydance[15]派拉蒙与华纳兄弟合并后公司将命名为Skydancenews.google.com
The New York Times reported that the combination ("mash-up") of Paramount and Warner Bros. will be called Skydance.
2026.10.02
Reported2026.10.06
Combined company to be named Skydance, trading under ticker SKYD[14]派拉蒙完成对华纳兄弟探索约1100亿美元的收购cnbc.com
David Ellison announced that the combined company formed by Paramount's acquisition of Warner Bros. Discovery will be named Skydance after closing and will trade under the ticker symbol "SKYD," a move intended to allow Paramount and Warner Bros. to remain distinct brands.
2026.10.02
Reported2026.10.02
Paramount and Warner Bros. Discovery to operate as Skydance once merger closes[16]派拉蒙与华纳兄弟探索合并完成后将以 Skydance 名称运营techcrunch.com
Paramount CEO David Ellison announced on Friday that Paramount and Warner Bros. Discovery will operate as Skydance once their roughly $110 billion merger closes, with the deal expected to close October 6. The combined company will bring together Paramount+ and HBO Max, networks including CBS, CNN, MTV, TBS, Comedy Central, and Food Network, and franchises such as "The Lord of the Rings," "Game of Thrones," the DC Universe, and "Yellowstone."
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2026.09.30
Reported2026.09.30
Paramount appoints Ynon Kreiz as co-CEO[8]Judge approves Paramount's settlement in lawsuit blocking Warner Bros. Discovery mergertheverge.com
Paramount is appointing Ynon Kreiz, Mattel's chairman and CEO, as co-CEO to lead alongside chairman and CEO David Ellison, ahead of the close of its $110 billion merger with Warner Bros. Discovery. According to Paramount, Ellison will focus on the company's long-term strategy, creative vision and direction, while Kreiz will focus on day-to-day management and integration of the combined businesses. Kreiz's first day at Paramount is October 5, 2026.
2026.09.30
Reported2026.09.30
Judge approves Paramount's settlement in lawsuit blocking Warner Bros. Discovery merger[8]Judge approves Paramount's settlement in lawsuit blocking Warner Bros. Discovery mergertheverge.com
On September 30, 2026, a judge approved Paramount's recently announced settlement in a lawsuit with several states that had been blocking Paramount's $110 billion merger with Warner Bros. Discovery, according to Reuters.
2026.09.29
Reported2026.09.30
Paramount streaming chief Cindy Holland announces departure[8]Judge approves Paramount's settlement in lawsuit blocking Warner Bros. Discovery mergertheverge.com
Cindy Holland, Paramount's streaming chief, announced on Tuesday, September 29, 2026 that she would be stepping down. Variety reports that HBO boss Casey Bloys is poised to take over both Paramount Plus and HBO.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Unconfirmed
Reported2026.09.21
Paramount settles Writers Guild of America lawsuit with $17.5m health fund payment and CBS News layoff ban[17]派拉蒙与美国编剧工会就合并诉讼达成和解承诺注资1750万美元并禁止CBS News Broadcast裁员编剧bbc.co.uk
The Writers Guild of America settled its own lawsuit over Paramount's merger with Warner Bros Discovery. Paramount is set to pay $17.5m into the WGA health fund, cover legal fees, and prohibit writer layoffs at CBS News Broadcast for five years.
Unconfirmed
Reported2026.09.21
Paramount settles state and union lawsuits over Warner Bros takeover[18]派拉蒙就华纳兄弟收购相关各州及工会诉讼达成和解news.google.com
Reuters reports that Paramount settled lawsuits brought by states and unions in connection with its takeover of Warner Bros.
2026.09.21
Reported2026.09.21
Paramount settles antitrust lawsuit blocking its $110 billion acquisition of Warner Bros. Discovery[19]派拉蒙就阻止其1100亿美元收购华纳兄弟探索的反垄断诉讼达成和解theverge.com
Paramount reached a settlement with California and 11 other states that resolves the antitrust lawsuit seeking to block its planned $110 billion acquisition of Warner Bros. Discovery, removing a major roadblock to the merger. The proposed consent decree includes film release quotas, US production spending commitments, a requirement to keep offering a free streaming service, and a news editorial independence board for CBS and CNN.