Paramount Global facts for kids
Logo used since 2022
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Paramount headquarters at One Astor Plaza in Midtown Manhattan, New York City
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Trade name
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Paramount |
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Formerly
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ViacomCBS (2019–2022) |
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| ISIN | ISIN: [https://isin.toolforge.org/?language=en&isin=US92556H2067 US92556H2067] |
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| Founded | December 4, 2019 |
| Headquarters | One Astor Plaza, , |
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Area served
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Worldwide |
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Key people
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| Revenue |  US$29.2 billion (2024) |
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Operating income
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−US$5.3 billion (2024) |
| −US$6.2 billion (2024) |
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| Total assets | US$46.2 billion (2024) |
| Total equity | US$16.8 billion (2024) |
| Owner | National Amusements (9.7% equity, 79.9% voting power) |
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Number of employees
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18,600 (2024) |
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| Subsidiaries | List of assets owned by Paramount Global |
Paramount Global, also known simply as Paramount, is a large American company that creates and shares movies, TV shows, and other entertainment. It is based in New York City. The company started on December 4, 2019, as ViacomCBS. It was formed when two companies, CBS Corporation and Viacom, joined together. These two companies had actually been part of the same larger company before. On February 16, 2022, the company changed its name to Paramount Global.
Paramount owns many famous brands. These include Paramount Pictures, which makes movies, and the CBS television network. It also owns MTV, Nickelodeon, and Comedy Central, which are popular cable TV channels. Paramount also has streaming services like Paramount+ and Pluto TV. The company reaches about 700 million viewers in 180 countries around the world.
In 2024, there were many talks about other companies possibly buying or merging with Paramount Global. Companies like Sony Pictures and Skydance Media were interested. On July 2, 2024, Skydance Media reached an agreement to merge with Paramount and National Amusements. This new company will be called "Paramount Skydance Corporation."
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How Paramount Global Started
Paramount Pictures, CBS, and Viacom have a long and interesting history of being connected. Paramount Pictures began in 1912 as a film company. CBS started in 1927. Paramount Pictures even owned a part of CBS for a few years.
In 1952, CBS created a division to handle the rights for its TV shows. This division changed its name several times and finally became Viacom in 1970. Viacom was later spun off (became a separate company) in 1971 due to new rules. In 1986, Viacom bought popular networks like MTV Networks and Showtime.
Paramount Communications and the First Viacom-CBS Merger
In 1989, Gulf and Western Industries, which owned Paramount Pictures, changed its name to Paramount Communications. Then, in 1994, Viacom bought Paramount Communications. This brought many famous brands under one roof.
In 1999, Viacom made a very big move. It announced plans to merge with its former parent company, CBS Corporation. This merger was completed in 2000. This meant that CBS and its old syndication division, Viacom, were together again.
Splitting Up and Coming Back Together (2005-2019)
On December 31, 2005, Viacom split into two separate companies. These were the "second versions" of CBS Corporation and Viacom.
Years later, in 2016, the company that owned both CBS and Viacom, National Amusements, suggested they merge again. This idea was put on hold for a while. However, in 2018, talks started again. This was partly because other big media companies were merging, and streaming services like Netflix were becoming very popular.
There were some disagreements about how the new company would be run. Eventually, on September 9, 2018, the CEO of CBS Corporation, Les Moonves, left the company. This opened the door for new merger discussions.
In May 2019, talks picked up again. On August 13, 2019, CBS and Viacom officially announced their merger. The new company would be called ViacomCBS. The merger was completed on December 4, 2019.
Early Years as ViacomCBS
After the merger, ViacomCBS started making some changes. They looked into selling some of their properties, like the CBS Building in New York City. They also considered selling their book publishing unit, Simon & Schuster.
In 2020, ViacomCBS sold CNET Media Group, which included popular tech websites like CNET and GameSpot. In 2021, they sold the CBS Building and the CBS Studio Center.
In early 2022, ViacomCBS and WarnerMedia explored selling a part of The CW television network. Nexstar Media Group became the main buyer. Nexstar acquired a 75% share in The CW, with Paramount and Warner Bros. Discovery keeping 12.5% each.
Becoming Paramount Global
On February 15, 2022, ViacomCBS announced a big change. The company would be renamed Paramount Global starting the next day. This new name was chosen to use the famous "Paramount" brand, which is known worldwide. The company now mostly uses the name "Paramount."
In August 2023, Paramount agreed to sell Simon & Schuster to KKR for $1.6 billion. This sale was completed in October 2023.
Recent Merger Talks with Skydance Media
In late 2023 and early 2024, there were many discussions about Paramount Global possibly merging with or being bought by other companies. Skydance Media was one of the main companies interested.
On April 29, 2024, Bob Bakish, who was the president and CEO, stepped down. He was replaced by a team of three leaders: Brian Robbins, George Cheeks, and Chris McCarthy.
On May 2, 2024, Sony Pictures and Apollo Global Management offered to buy Paramount for $26 billion. However, Skydance Media continued its talks to acquire Paramount.
By June 3, Paramount and Skydance had agreed on the terms of a merger. However, the deal faced some challenges and was called off on June 11. But on July 2, 2024, Skydance and Paramount reached a new preliminary agreement to merge. This new company would be called "Paramount Skydance Corporation."
On July 7, 2024, Paramount's board of directors approved the merger deal with Skydance. The deal is worth about $28 billion. David Ellison, the founder of Skydance Media, is expected to become the chairman and CEO of the new company. Jeff Shell is expected to become the president.
In August 2024, Paramount announced it would reduce its U.S. workforce by about 15%. This was due to financial changes related to its cable TV networks. In November 2024, it was reported that Shari Redstone would leave Paramount Global after the merger with Skydance Media is completed. In December 2024, Paramount combined its television and streaming teams into one unit.
In July 2025, the company reached an agreement to pay $16 million to settle a dispute related to a 2024 interview on 60 Minutes.
What Paramount Global Owns
Paramount Global has several main parts:
- Paramount Pictures Corporation: This is the famous movie studio. It includes Paramount Animation, Paramount Players, and Nickelodeon Movies.
- Paramount Television Group: This part makes TV shows. It includes CBS Studios, Nickelodeon Productions, and MTV Entertainment Studios.
- Paramount Media Networks: This includes many popular cable TV channels in the United States. Some of these are MTV, Nickelodeon, Comedy Central, Showtime, and Paramount Network.
- Paramount Streaming: This focuses on global streaming services. It includes Paramount+ and Pluto TV.
- CBS Entertainment: This oversees the CBS television network, CBS News, and CBS Sports. It also includes BET Media Group.
- Paramount International Networks: This manages Paramount's TV channels and networks outside the United States. Examples include Channel 5 in the UK and Network 10 in Australia.
- Paramount Experiences: This part handles merchandise and licensing for products related to Paramount's brands. It also includes some theme parks.
- Paramount Global Content Distribution: This group distributes Paramount's TV shows and movies to other countries.
Leadership
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See also
In Spanish: Paramount Global para niños
