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Paramount Global

From Wikipedia, in a visual modern way
Paramount Global
Paramount
FormerlyViacomCBS Inc. (2019–2022)
TypePublic
ISINUS92556H2067
Industry
Predecessors
FoundedDecember 4, 2019; 3 years ago (2019-12-04)
HeadquartersOne Astor Plaza, Manhattan,
New York City, U.S.
Area served
Worldwide
Key people
Products
Services
RevenueIncrease US$30.15 billion (2022)
Decrease US$2.342 billion (2022)
Decrease US$1.104 billion (2022)
Total assetsDecrease US$58.39 billion (2022)
Total equityIncrease US$23.04 billion (2022)
OwnerNational Amusements[a]
Number of employees
24,500 (December 2022)
Divisions
Subsidiaries
Websiteparamount.com
Footnotes / references
[2][3]
Not to be confused with the film division Paramount Pictures or its former parent company Paramount Communications.
"ViacomCBS" redirects here. For the article on the merger, see 2019 merger of CBS and Viacom.

Paramount Global[b] (doing business as Paramount)[4] is an American multinational mass media and entertainment conglomerate controlled by National Amusements (79.4%) and headquartered at One Astor Plaza in Midtown Manhattan, New York City. It was formed on December 4, 2019, as ViacomCBS Inc. through the merger of the second incarnations of CBS Corporation and Viacom[5] (which were split from the original Viacom on December 31, 2005). The company changed its name to Paramount Global on February 16, 2022, the day after its Q4 earnings presentation.[6]

Paramount's main properties include the namesake Paramount Pictures film and television studio, the CBS Entertainment Group (consisting of the CBS and The CW television networks, television stations, and other CBS-branded assets), media networks (consisting of U.S.-based cable television networks including MTV, Nickelodeon, BET, Comedy Central, VH1, CMT, Paramount Network and Showtime) and the company's streaming services (including Paramount+, Showtime OTT and Pluto TV). It also has a dedicated international division that manages international versions of its pay TV networks, as well as region-specific assets including Argentina's Telefe, Chile's Chilevisión, the United Kingdom's Channel 5 and Australia's Network 10. The division also owned a 30% stake in the Rainbow S.p.A. studio until 2023.[7]

As of 2019, the company operates over 170 networks and reaches approximately 700 million subscribers in 180 countries.[8]

Discover more about Paramount Global related topics

Conglomerate (company)

Conglomerate (company)

A conglomerate is a multi-industry company – i.e., a combination of multiple business entities operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Conglomerates are often large and multinational.

Midtown Manhattan

Midtown Manhattan

Midtown Manhattan is the central portion of the New York City borough of Manhattan and serves as the city's primary central business district. Midtown is home to some of the city's most prominent buildings, including the Empire State Building, the Chrysler Building, the Hudson Yards Redevelopment Project, the headquarters of the United Nations, Grand Central Terminal, and Rockefeller Center, as well as several prominent tourist destinations including Broadway, Times Square, and Koreatown. Penn Station in Midtown Manhattan is the busiest transportation hub in the Western Hemisphere.

2019 merger of CBS and Viacom

2019 merger of CBS and Viacom

The 2019 merger of CBS Corporation and Viacom was announced on August 13, 2019, and was completed on December 4, 2019. The merger of equals reunited CBS Corporation and Viacom into a single company known as ViacomCBS after their separation from the first incarnation of Viacom on December 31, 2005. Both companies were owned by the theater company National Amusements.

CBS Corporation

CBS Corporation

The second incarnation of CBS Corporation was an American multinational media conglomerate with interests primarily in commercial broadcasting, publishing, and television production. It was one of the two companies formed from the December 31, 2005 spin-off of the Viacom assets of the original Viacom, as founded by Ralph Baruch in 1952 as CBS Television Film Sales. It was one of two companies which succeeded the original incarnation of Viacom, alongside the second incarnation of Viacom; both were controlled by National Amusements, a theater company controlled by billionaire Sumner Redstone. The spin-off was structured so that CBS Corporation would be the legal successor to the first Viacom, with the second Viacom being an entirely separated company.

CBS

CBS

CBS Broadcasting Inc., commonly shortened to CBS, the abbreviation of its former legal name Columbia Broadcasting System, is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainment Group division of Paramount Global.

CBS News and Stations

CBS News and Stations

CBS News and Stations is a division of the CBS Entertainment Group unit of Paramount Global that owns and operates a group of American television stations. As of January 2021, the division owns 28 stations: 14 are the core stations of the CBS television network; eight are aligned with The CW Television Network, of which Paramount is a minority owner; five independent stations, and one Start TV affiliate. It also maintains a half-interest on the Start TV digital subchannel network, which is co-owned with Weigel Broadcasting.

MTV

MTV

MTV is a 24-hour American cable music video channel officially launched on August 1, 1981. Based in New York City, it serves as the flagship property of the MTV Entertainment Group, part of Paramount Media Networks, a division of Paramount Global.

BET

BET

Black Entertainment Television is an American basic cable channel targeting African-American audiences. It is owned by the CBS Entertainment Group unit of Paramount Global via BET Networks and has offices in New York City, Los Angeles, Chicago, and was formerly headquartered in Washington, D.C.

Comedy Central

Comedy Central

Comedy Central is an American adult-oriented basic cable channel owned by Paramount Global through its network division's MTV Entertainment Group unit, based in Manhattan. The channel is geared towards young adults aged 18–34 and carries comedy programming in the form of both original, licensed, and syndicated series, stand-up comedy specials, and feature films. It is available to approximately 86.723 million households in the United States as of September 2018.

CMT (American TV channel)

CMT (American TV channel)

Country Music Television (CMT) is an American pay TV network owned by Paramount Media Networks, a division of Paramount Global. Launched on March 5, 1983, as Country Music Television, CMT was the first nationally available channel devoted to country music and country music videos, with its programming also including concerts, specials, and biographies of country music stars. Over time, the network's programming expanded to incorporate original lifestyle/reality programming, and sitcoms geared toward blue collar audiences.

Chilevisión

Chilevisión

Chilevisión is a Chilean free-to-air television channel. It is the third oldest Chilean television network, owned by Paramount Networks Americas, being founded by the University of Chile on November 4, 1960.

Channel 5 (British TV channel)

Channel 5 (British TV channel)

Channel 5 is a British free-to-air public broadcast television channel launched in 1997. It is the fifth national terrestrial channel in the United Kingdom and is owned by Channel 5 Broadcasting Limited, a wholly-owned subsidiary of American media conglomerate Paramount Global, which is grouped under Paramount Networks UK & Australia division.

Background

Main articles: Paramount Communications, Viacom (1952–2006), Viacom (2005–2019), CBS Corporation, Westinghouse Electric Corporation, and Gulf and Western Industries
Original Viacom logo (1990–2005)CBS Corporation logo (2005–2019)Spun-off Viacom logo (2005–2019)
Original Viacom logo (1990–2005)
Original Viacom logo (1990–2005)CBS Corporation logo (2005–2019)Spun-off Viacom logo (2005–2019)
CBS Corporation logo (2005–2019)
Original Viacom logo (1990–2005)CBS Corporation logo (2005–2019)Spun-off Viacom logo (2005–2019)
Spun-off Viacom logo (2005–2019)

Paramount Pictures, CBS, and Viacom each had a history of being associated with one another through a series of various corporate mergers and splits.[9] Paramount Pictures was founded in 1912 as the Famous Players Film Company.[10] CBS was founded in 1927, which Paramount Pictures held a 49 percent ownership stake in from 1929 to 1932.[11][12] In 1952, CBS formed CBS Television Film Sales, a division which handled syndication rights for CBS's library of network owned television series. This division was renamed CBS Films in 1958, and again renamed CBS Enterprises Inc. in January 1968, and finally renamed Viacom (an acronym of Video and Audio Communications) in 1970. In 1971, this syndication division was spun off amid new FCC rules forbidding television networks from owning syndication companies (these rules were eventually abolished completely in 1993).[13] In 1985, Viacom purchased MTV Networks and Showtime/The Movie Channel Inc. from Warner Communications and American Express.[14] In 1986, Viacom was acquired by its present owner, theater operator company National Amusements.

Meanwhile, Paramount Pictures was acquired by Gulf and Western Industries in 1966, which then re-branded itself as Paramount Communications in 1989.[15] Viacom then purchased Paramount Communications in 1994.

In 1999, Viacom made its biggest acquisition to date by announcing plans to merge with its former parent CBS Corporation (the renamed Westinghouse Electric Corporation, which had merged with CBS in 1995). The merger was completed in 2000, resulting in CBS reuniting with its former syndication division. On December 31, 2005, Viacom was split into two companies: CBS Corporation, the former's corporate successor and the spun-off Viacom company.[16]

Discover more about Background related topics

Viacom (1952–2006)

Viacom (1952–2006)

The original incarnation of Viacom Inc. was an American media conglomerate based in New York City. It began as CBS Television Film Sales, the broadcast syndication division of the CBS television network in 1952; it was renamed CBS Films in 1958, renamed CBS Enterprises in 1968, renamed Viacom in 1970, and spun off into its own company in 1971. Viacom was a distributor of CBS television series throughout the 1970s and 1980s, and also distributed syndicated television programs.

CBS Corporation

CBS Corporation

The second incarnation of CBS Corporation was an American multinational media conglomerate with interests primarily in commercial broadcasting, publishing, and television production. It was one of the two companies formed from the December 31, 2005 spin-off of the Viacom assets of the original Viacom, as founded by Ralph Baruch in 1952 as CBS Television Film Sales. It was one of two companies which succeeded the original incarnation of Viacom, alongside the second incarnation of Viacom; both were controlled by National Amusements, a theater company controlled by billionaire Sumner Redstone. The spin-off was structured so that CBS Corporation would be the legal successor to the first Viacom, with the second Viacom being an entirely separated company.

Gulf and Western Industries

Gulf and Western Industries

Gulf and Western Industries, Inc. was an American conglomerate. Originally, the company focused on manufacturing and resource extraction. Beginning in 1966, and continuing throughout the 1960s and 1970s, the company purchased a number of entertainment companies, most notably Paramount Pictures in 1966, Desilu Productions in 1967, and a number of record companies, including Dot Records. These became the nuclei of Paramount Television and Paramount Records respectively.

Paramount Pictures

Paramount Pictures

Paramount Pictures Corporation is an American film and television production and distribution company and the main namesake division of Paramount Global. It is the fifth-oldest film studio in the world, the second-oldest film studio in the United States, and the sole member of the "Big Five" film studios located within the city limits of Los Angeles.

CBS

CBS

CBS Broadcasting Inc., commonly shortened to CBS, the abbreviation of its former legal name Columbia Broadcasting System, is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainment Group division of Paramount Global.

Famous Players Film Company

Famous Players Film Company

The Famous Players Film Company was a film company founded in 1912 by Adolph Zukor in partnership with the Frohman brothers, powerful New York City theatre impresario.

Corporate spin-off

Corporate spin-off

A corporate spin-off, also known as a spin-out, or starburst or hive-off, is a type of corporate action where a company "splits off" a section as a separate business or creates a second incarnation, even if the first is still active. It is distinct from a sell-off, where a company sells a section to another company or firm in exchange for cash or securities.

Federal Communications Commission

Federal Communications Commission

The Federal Communications Commission (FCC) is an independent agency of the United States federal government that regulates communications by radio, television, wire, satellite, and cable across the United States. The FCC maintains jurisdiction over the areas of broadband access, fair competition, radio frequency use, media responsibility, public safety, and homeland security.

Financial Interest and Syndication Rules

Financial Interest and Syndication Rules

The Financial Interest and Syndication Rules, widely known as the fin-syn rules, were a set of rules imposed by the Federal Communications Commission in the United States in 1970. The FCC sought to prevent the Big Three television networks from monopolizing the broadcast landscape by preventing them from owning any of the programming that they aired in prime time. The rules also prohibited networks from airing syndicated programming they had a financial stake in. The rules also led to the networks spun-off their syndicated divisions, like CBS' CBS Enterprises was later renamed as Viacom in 1971 and later spun-off, ABC's ABC Films was sold to its five executives and later renamed as Worldvision Enterprises and NBC's syndicated division NBC Films was later sold to National Telefilm Associates (NTA) for $7.5 million, both occurred in March 1973.

Showtime Networks

Showtime Networks

Showtime Networks Inc. is an American entertainment company that oversees the company's premium cable television channels, including its flagship service Showtime. It is a subsidiary of media conglomerate Paramount Global under its networks unit.

American Express

American Express

American Express Company (Amex) is an American multinational financial services corporation specialized in payment cards headquartered in New York City. It is one of the most valuable companies in the world and one of the 30 components of the Dow Jones Industrial Average. The company's logo, adopted in 1958, is a gladiator or centurion whose image appears on the company's well-known traveler's cheques, charge cards, and credit cards. It is based in the American Express Tower in the Battery Park City neighborhood of Lower Manhattan where it maintains its corporate offices. They are the largest provider of traveler's cheques worldwide.

National Amusements

National Amusements

National Amusements, Inc. is an American privately owned movie theater operator and mass media holding company incorporated in Maryland and based in Norwood, Massachusetts. It is the controlling shareholder of Paramount Global.

History

Further information: 2019 merger of CBS and Viacom

Formation

On September 29, 2016, National Amusements, the parent company of CBS Corporation and Viacom, wrote to Viacom and CBS encouraging the two companies to merge back into one company.[17] On December 12, the deal was called off.[18]

On January 12, 2018, CNBC reported that Viacom had re-entered talks to merge back into CBS Corporation, after the merger of AT&T-Time Warner and Disney's proposed acquisition of most of 21st Century Fox's assets were announced. Viacom and CBS also faced heavy competition from companies such as Netflix and Amazon.[19] Shortly afterward, it was reported that the combined company could be a suitor for acquiring the film studio Lionsgate.[20] Viacom and Lionsgate were both interested in acquiring The Weinstein Company.[21] Following the Weinstein effect, Viacom was listed as one of 22 potential buyers that were interested in acquiring TWC.[21] They lost the bid, and on March 1, 2018, it was announced that Maria Contreras-Sweet would acquire all of TWC's assets for $500 million.[22][23] Lantern Capital would later acquire the studio.

On March 30, 2018, CBS made an all-stock offer slightly below Viacom's market value, insisting that its existing leadership, including long-time chairman and CEO Les Moonves, oversee the re-combined company. Viacom rejected the offer as too low, requesting a $2.8  billion increase and that Bob Bakish be maintained as president and COO under Moonves. These conflicts had resulted from Shari Redstone seeking more control over CBS and its leadership.[24][25]

Eventually, on May 14, 2018, CBS Corporation sued its and Viacom's parent company National Amusements and accused Redstone of abusing her voting power in the company and forcing a merger that was not supported by it or Viacom.[26][27] CBS also accused Redstone of discouraging Verizon Communications from acquiring it, which could have been beneficial to its shareholders.[28]

On May 23, 2018, Les Moonves explained that he considered the Viacom channels to be an "albatross," and while he favored more content for CBS All Access, he believed that there were better deals for CBS than the Viacom deal, such as Metro-Goldwyn-Mayer, Lionsgate, or Sony Pictures. Moonves also considered Bakish a threat because he did not want an ally of Shari Redstone as a board member of the combined company.[29]

On September 9, 2018, Les Moonves exited CBS following multiple accusations of sexual assault. National Amusements agreed to not propose a CBS-Viacom merger for at least two years after the date of the settlement.[30]

On May 30, 2019, CNBC reported that CBS Corporation and Viacom would explore merger discussions in mid-June 2019. CBS's board of directors was revamped with people who were open to merging; the re-merger was made possible with the resignation of Moonves, who had opposed all merger attempts. The talks had started following rumors of CBS acquiring Starz from Lionsgate.[31] Reports said that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies.[32][33] CBS announced to acquire Viacom as part of the re-merger deal for up to $15.4 billion.[34]

On August 2, 2019, it was reported that CBS and Viacom agreed to merge back into one entity, with both companies agreeing on the management team for the merger. Bob Bakish would serve as CEO of the combined company with the president and acting CEO of CBS, Joseph Ianniello, overseeing CBS-branded assets.[35] On August 7, 2019, CBS and Viacom separately reported their quarterly earnings as the talks about the re-merger continued.[36][37]

Initial operations

Logo used from 2019 to 2020Logo used from 2020 to 2022
Logo used from 2019 to 2020
Logo used from 2019 to 2020Logo used from 2020 to 2022
Logo used from 2020 to 2022

On August 13, 2019, CBS and Viacom officially announced their merger; the combined company was to be named ViacomCBS, with Shari Redstone serving as chair.[38][39][40] Upon the merger agreement, Viacom and CBS jointly announced that the transaction is expected to close by the end of 2019, pending regulatory and shareholder approvals.[40] The merger required approval by the Federal Trade Commission.[40]

On October 28, 2019, the merger was approved by National Amusements, which then announced the deal would close in early December; the recombined company trades its shares on Nasdaq under the symbols "VIAC" and "VIACA" after CBS Corporation delisted its shares on the New York Stock Exchange.[41][42]

On November 25, 2019, Viacom and CBS announced the merger would close on December 4 and begin trading on NASDAQ on next day.[43][44] On December 4, 2019, Bakish confirmed that the ViacomCBS merger had closed.[45]

On December 10, 2019, days after the merger, Bakish announced that ViacomCBS would look to divest Black Rock, the building that held CBS's headquarters since 1964. He stated, "Black Rock is not an asset we need to own and we believe that money would be put to better use elsewhere."[46] On December 20, 2019, ViacomCBS agreed to acquire a 49% minority stake in film studio Miramax from beIN Media Group for $379 million. As part of the purchase, Paramount Pictures reached a long-term deal for exclusive distribution rights to its library, and first-look agreements to co-develop new film and television projects based on Miramax-owned properties.[47]

On March 2, 2020, executive vice president Dana McClintock announced that he would depart the company after 27 years in CBS Communications.[48] On March 4, the company announced plans to potentially sell its Simon & Schuster publishing unit, with Bakish arguing that it lacked a "significant connection for our broader business."[49]

On June 19, 2020, Jaime Ondarza, formerly the senior vice president of Turner Broadcasting South Europe and Africa, became the new head of ViacomCBS Networks International for France, Spain, Italy, the Middle East, Greece, and Turkey.[50]

On August 4, 2020, ViacomCBS announced that the company's connected video advertising platform, EyeQ, is set to launch in fall 2020.[51]

On September 14, 2020, ViacomCBS announced an agreement to sell the CBSi owned CNET Media Group to Red Ventures for $500 million. The deal included the eponymous CNET tech site, as well as ZDNet, GameSpot, the TV Guide digital assets, Metacritic, and Chowhound.[52][53] The deal closed on October 30, 2020.[54]

On November 17, 2020, various news outlets had reported that companies such as Vivendi, Bertelsmann's Penguin Random House and News Corp's HarperCollins had considered acquiring Simon & Schuster for as much as $1.7 billion. ViacomCBS had expected the bids to be placed before November 26.[55] On November 25, 2020, Penguin Random House agreed to purchase Simon & Schuster for $2.175 billion;[56] however, the deal was blocked two years later by U.S. federal judge Florence Y. Pan.[57] On August 16, 2021, ViacomCBS announced that they had agreed to sell the CBS Building to the real estate investment and management firm Harbor Group International for $760 million, leasing the space back under a short-term lease.[58] On September 28, 2021, ViacomCBS announced that they had agreed to partner with software and data firm VideoAmp.[59] On October 28, 2021, ViacomCBS announced that they had agreed to acquire a majority stake in the Spanish-language content producer TeleColombia & Estudios TeleMexico.[60] On November 30, 2021, ViacomCBS announced that they had agreed to sell the CBS Studio Center to Hackman Capital Partners and Square Mile Capital Management for $1.85 billion.[61]

On January 5, 2022, The Wall Street Journal reported that WarnerMedia and ViacomCBS were exploring a possible sale of either a majority stake or all of The CW, and that Nexstar Media Group (which became The CW's largest affiliate group when it acquired former WB co-owner Tribune Broadcasting in 2019) was considered a leading bidder.[62] The news led to speculation that, should a sale take place, new ownership could steer the network in a new direction, transforming The CW from a young adult-oriented network into one that featured more unscripted and even national news programming.[63] However, reports also indicated that WarnerMedia and ViacomCBS could include a contractual commitment that would require any new owner to buy new programming from those companies, allowing them to reap some continual revenue through the network.[64] Network president/CEO Mark Pedowitz confirmed talks of a potential sale in a memo to CW staffers, but added that "It's too early to speculate what might happen" and that the network "must continue to do what we do best."[65][66]

Rebranding

On February 15, 2022, during a presentation to investors, ViacomCBS announced that it would change its name to Paramount Global (effectively retiring the Viacom name after 52 years dating back to the original company founded in 1970) beginning the following day; in a memo to staff announcing the change, it was stated that the rebranding was intended to leverage the "iconic global name", and would "reflect who we are, what we aspire to be, and all that we stand for." The company will primarily do business as simply "Paramount".[67] In May 2022, Berkshire Hathaway had acquired a $2.6 billion stake in Paramount.[68]

On August 15, Nexstar confirmed it had "entered into a definitive agreement" to acquire a 75% majority share in The CW; the remaining 25% would be shared equally by Paramount Global and Warner Bros. Discovery (the latter resulting from Discovery's acquisition of WarnerMedia from AT&T). Additionally, Nexstar indicated that Mark Pedowitz would remain the network's chairman and CEO and have "responsibility for day-to-day operations. Though no monetary terms were announced, Nexstar reportedly would not pay any cash or stock up front, and would absorb approximately $100 million of network debt.[69][70] As the sale does not entail the transfer of any FCC broadcast licenses (unlike the "Big Four" networks, The CW does not directly own any of its affiliates), no regulatory approvals are required, only customary financial closing conditions expected to be cleared in Nexstar's fiscal third quarter, i.e. by the start of October 2022; as such, Nexstar immediately took operational control of the network on August 15. On October 3, it was officially announced Nexstar closed the deal to acquire the majority ownership of The CW, and that longtime CEO Mark Pedowitz would be stepping down, planning to revive his production company Pine Street Entertainment. Dennis Miller would take Pedowitz's role as president of The CW.[71][72]

Discover more about History related topics

2019 merger of CBS and Viacom

2019 merger of CBS and Viacom

The 2019 merger of CBS Corporation and Viacom was announced on August 13, 2019, and was completed on December 4, 2019. The merger of equals reunited CBS Corporation and Viacom into a single company known as ViacomCBS after their separation from the first incarnation of Viacom on December 31, 2005. Both companies were owned by the theater company National Amusements.

National Amusements

National Amusements

National Amusements, Inc. is an American privately owned movie theater operator and mass media holding company incorporated in Maryland and based in Norwood, Massachusetts. It is the controlling shareholder of Paramount Global.

CNBC

CNBC

CNBC is an American basic cable business news channel and website. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk shows, investigative reports, documentaries, infomercials, reality shows, and other programs at all other times. Along with Fox Business and Bloomberg Television, it is one of the three major business news channels. It also operates a website and mobile apps, whereby users can watch the channel via streaming media, and which provide some content that is only accessible to paid subscribers. CNBC content is available on demand on smart speakers including Amazon Echo devices with Amazon Alexa, Google Home and app devices with Google Assistant, and on Apple Siri voice interfaces including iPhones. Many CNBC TV shows are available as podcasts for on-demand listening. Graphics are designed by Sweden-based Magoo 3D studios.

AT&T

AT&T

AT&T Inc. is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the world's largest telecommunications company by revenue and the third largest provider of mobile telephone services in the U.S. As of 2022, AT&T was ranked 13th on the Fortune 500 rankings of the largest United States corporations, with revenues of $168.8 billion.

Acquisition of 21st Century Fox by Disney

Acquisition of 21st Century Fox by Disney

The acquisition of 21st Century Fox by The Walt Disney Company was announced on December 14, 2017, and was completed on March 20, 2019. Among other key assets, the acquisition included the 20th Century Fox film and television studios, U.S. cable channels such as FX, Fox Networks Group, a 73% stake in National Geographic Partners, Indian television broadcaster Star India, and a 30% stake in Hulu. Immediately preceding the acquisition, 21st Century Fox spun off the Fox Broadcasting Company, Fox Television Stations, Fox News Channel, Fox Business, Fox Sports 1 and 2, Fox Deportes, and the Big Ten Network into the newly formed Fox Corporation. Other 21st Century Fox assets such as the Fox Sports Networks and Sky were divested and sold off to third parties such as Comcast, Sinclair Broadcast Group and Yankee Global Enterprises.

21st Century Fox

21st Century Fox

Twenty-First Century Fox, Inc., doing business as 21st Century Fox (21CF), was an American multinational mass media and entertainment conglomerate that was based in Midtown Manhattan, New York City. It was one of the two companies formed on June 28, 2013, following a spin-off of the publishing assets of the old News Corporation as News Corp.

Netflix

Netflix

Netflix, Inc. is an American media company based in Los Gatos, California. Founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California, it operates the over-the-top subscription video on-demand service Netflix brand, which includes original films and television series commissioned or acquired by the company, and third-party content licensed from other distributors. Netflix is a member of the Motion Picture Association—having become the first streaming company to become a member.

Amazon (company)

Amazon (company)

Amazon.com, Inc. is an American multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. It has been referred to as "one of the most influential economic and cultural forces in the world", and is one of the world's most valuable brands. It is one of the Big Five American information technology companies, alongside Alphabet (Google), Apple, Meta (Facebook), and Microsoft.

Lionsgate Films

Lionsgate Films

Lionsgate Films is a Canadian-American film production and film distribution studio, headquartered in Santa Monica and founded in Canada, and is the flagship division of Lionsgate Entertainment. It is the largest and most successful mini-major film studio in North America. It focuses on foreign and independent films and has distributed various commercially successful film franchises, including The Hunger Games, Rambo, Divergent, The Punisher, John Wick, Saw, Madea, Blair Witch, Now You See Me, Hostel, The Expendables, Sinister, The Twilight Saga and Step Up.

Maria Contreras-Sweet

Maria Contreras-Sweet

Maria Contreras-Sweet is an American businesswoman and former government official who served as the 24th Administrator of the Small Business Administration from 2014 to 2017. She was the executive chairwoman and founder of ProAmérica Bank, a commercial bank focusing on small to mid-sized businesses with a specialty in the Latino community. Born in Guadalajara, Mexico, Contreras-Sweet immigrated to Los Angeles, California and has since been involved in both the private sector founding a private equity firm and in public service as the California Secretary of Business, Transportation, and Housing under Governor Gray Davis.

Les Moonves

Les Moonves

Leslie Roy Moonves is an American media executive who was the chairman and CEO of CBS Corporation from 2003 until his resignation in September 2018 following numerous allegations of sexual harassment, sexual assault and abuse. He has been married to TV personality Julie Chen since 2004.

Albatross (metaphor)

Albatross (metaphor)

The word albatross is sometimes used metaphorically to mean a psychological burden that feels like a curse.

Company units

For a more comprehensive list, see list of assets owned by Paramount Global and list of libraries owned by Paramount Global.

Paramount Global comprises six major units:

Other assets owned by Paramount include Simon & Schuster (book publisher), VidCon (multi-genre online video conference) and Bellator (mixed martial arts promoter). The company also has an undisclosed stake in FuboTV, which acquired in 2020.[76]

Discover more about Company units related topics

List of assets owned by Paramount Global

List of assets owned by Paramount Global

The following is a list of major assets that are owned by Paramount Global.

List of libraries owned by Paramount Global

List of libraries owned by Paramount Global

This is a list of content libraries and catalogs owned by Paramount Global.

Paramount Animation

Paramount Animation

Paramount Animation is an American animation studio, serving as the animation division and label of Paramount Pictures, a subsidiary of Paramount Global. The division was founded on July 6, 2011, following the box office success of Paramount's own Rango and the end of their distribution deal with DreamWorks Animation in 2012.

Paramount Media Networks

Paramount Media Networks

Paramount Media Networks is an American mass media division of Paramount Global that oversees the operations of many of its television channels and online brands. Its related international division is Paramount International Networks.

MTV

MTV

MTV is a 24-hour American cable music video channel officially launched on August 1, 1981. Based in New York City, it serves as the flagship property of the MTV Entertainment Group, part of Paramount Media Networks, a division of Paramount Global.

Nickelodeon

Nickelodeon

Nickelodeon is an American pay television channel which launched on April 1, 1979, as the first cable channel for children. It is run by Paramount Global through its networks division's Kids and Family Group. The channel is primarily aimed at children aged 2–17, along with a broader family audience through its program blocks.

Comedy Central

Comedy Central

Comedy Central is an American adult-oriented basic cable channel owned by Paramount Global through its network division's MTV Entertainment Group unit, based in Manhattan. The channel is geared towards young adults aged 18–34 and carries comedy programming in the form of both original, licensed, and syndicated series, stand-up comedy specials, and feature films. It is available to approximately 86.723 million households in the United States as of September 2018.

Paramount Network

Paramount Network

Paramount Network is an American basic cable television channel owned by the MTV Entertainment Group unit of Paramount Media Networks. The network's headquarters are located at the Paramount Pictures studio lot in Los Angeles.

Logo TV

Logo TV

Logo TV is an American basic cable channel owned by Paramount Media Networks, a division of Paramount Global. Launched in 2005, Logo was originally dedicated to lifestyle and entertainment programming targeting LGBT audiences. As of January 2016, approximately 50 million households receive Logo.

CMT (American TV channel)

CMT (American TV channel)

Country Music Television (CMT) is an American pay TV network owned by Paramount Media Networks, a division of Paramount Global. Launched on March 5, 1983, as Country Music Television, CMT was the first nationally available channel devoted to country music and country music videos, with its programming also including concerts, specials, and biographies of country music stars. Over time, the network's programming expanded to incorporate original lifestyle/reality programming, and sitcoms geared toward blue collar audiences.

Flix (TV network)

Flix (TV network)

Flix is an American premium cable and satellite television network owned by Showtime Networks, a subsidiary of Paramount Global operated through its Media Networks unit. Its programming consists solely of theatrically released motion pictures released from the 1970s to the present day, interspersed with some films from the 1950s and 1960s.

Nickelodeon Animation Studio

Nickelodeon Animation Studio

Nickelodeon Animation Studio is an American animation studio owned by Paramount Global. It has created many original television programs for Nickelodeon, such as SpongeBob SquarePants, The Fairly OddParents, Rugrats and Avatar: The Last Airbender, among various others. Since the 2010s, the studio has also produced its own series based on preexisting IP purchased by Paramount Global, such as Teenage Mutant Ninja Turtles and Winx Club. In November 2019, Nickelodeon Animation Studio signed a multiple-year output deal for Netflix, which will include producing content, in both new and preexisting IP, for the streaming platform.

Source: "Paramount Global", Wikipedia, Wikimedia Foundation, (2023, March 22nd), https://en.wikipedia.org/wiki/Paramount_Global.

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Further Reading

Paramount Pictures

WarnerMedia

Viacom (2005–2019)

Sumner Redstone

Flix (TV network)

CBS Studios

CBS Corporation

Nexstar Media Group

The CW

The CW Plus

Viacom (1952–2006)

Acquisition of 21st Century Fox by Disney

2019 merger of CBS and Viacom
Notes
  1. ^ National Amusements owns 79.9% of the voting power, and a 9.7% overall equity interest in the company.[1]
  2. ^ Exact name as shown on the Delaware corporations registry under file no. 2106821.
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