Is Paramount Owned by CBS?

It is a common misconception that Paramount is owned by CBS, but the relationship between these two entities is much more complex. To understand the current relationship, we need to dive into the history of media consolidation and the evolution of these companies.

The History of Ownership and Structure

When Viacom split into two separate companies in 2019, the 'old media' company became CBS Corporation, while the 'new media' group retained the Viacom and Paramount names. This split caused a reorganization of the assets, leading to the current structure we see today.

After the Merger: ViacomCBS and Paramount Global

Following the National Amusements' ownership remerger of CBS and Viacom, the companies were merged into a single entity called ViacomCBS. In 2022, ViacomCBS further reorganized and renamed itself as Paramount Global. The company was restructured to focus on its growing streaming services, including Paramount .

Paramount Pittsburgh and CBS's Distinct Roles

Despite sharing the same parent company, Paramount Pictures and CBS Television Studios operate as separate units. Paramount Pictures, founded in 1912, is a major Hollywood film studio known for its production of blockbusters and a wide range of entertainment properties. Its current parent company is Paramount Global.

CBS Television and Other Media Outlets

CBS, on the other hand, is a leading American broadcasting company that owns broadcasting networks and other media outlets. It operates several notable brands, including CBS Television Studios (formerly CBS Television), Comedy Central, BET, Showtime, Nickelodeon, and MTV. CBS Television Studios, which was previously named CBS Television Studios, focuses on the production of television series and is not owned by Paramount Pictures.

The Current Structure

As of 2022, both Paramount Pictures and CBS are divisions of the same parent company, Paramount Global. However, they play distinct roles in the media and entertainment landscape. Paramount Pictures continues to produce films and television shows, while CBS remains focused on broadcasting and other media properties.

Conclusion

The relationship between Paramount and CBS is characterized by shared ownership and a common parent company but with distinct operations and responsibilities. Understanding the history and current structure of these companies can help clear up any misconceptions about their ownership and roles in the media industry.

Key Takeaways:

Paramount Global is both the parent company of Paramount Pictures and CBS. Paramount Television (a division of Paramount Pictures) and CBS Television Studios are separate entities with different focuses. CBS and Paramount Pictures play distinct roles in the media and entertainment landscape, with CBS focusing on broadcasting and Paramount Pictures on film and television production.