Paramount Global is a major American media and entertainment conglomerate that owns television networks, film studios, and streaming platforms, formed from the 2019 merger of Viacom and CBS Corporation.

Corporate Structure

Media Networks: Operates broadcast networks CBS and The CW, along with cable channels including MTV, Nickelodeon, Comedy Central, and Showtime.

Film Production: Owns Paramount Pictures, one of Hollywood’s oldest major film studios, producing and distributing theatrical releases globally.

Streaming Services: Operates Paramount+ streaming platform, competing in the digital entertainment market with integrated content from its various properties.

News Division: Controls CBS News, a major national news organization providing broadcast and digital journalism.

Recent Developments

In 2024-2025, Paramount underwent significant corporate changes with its acquisition by Skydance Media, led by David Ellison.

Skydance Merger: Completed merger with Skydance Media in August 2025, bringing new leadership and strategic direction to the company.

News Strategy Shift: Under new ownership, acquired The Free Press for $150 million in October 2025 and appointed Bari Weiss as CBS News editor-in-chief.

Digital Transformation: Focuses on expanding streaming presence and adapting traditional media properties for digital distribution.

Media and Political Impact

Paramount’s media properties reach millions of Americans and shape cultural and political discourse.

News Coverage: Through CBS News, provides national political coverage, presidential debates, and investigative journalism via programs like 60 Minutes.

Entertainment Influence: Television networks and film studios produce content that influences American culture and social conversations.

Platform Integration: Combines traditional broadcasting with digital streaming to maintain relevance across different audience demographics.