Paramount Pictures

History

Famous Players Film Company

Paramount is the sixth-oldest surviving film studio globally, after the Gaumont Film Company (or just Gaumont) (1895), Pathé (1896), Titanus (1904), Nordisk Film (1906) and Universal Pictures (1912). It is the last major film studio still headquartered in the Hollywood district of Los Angeles.

Paramount Pictures dates its existence from the 1912 founding date of the Famous Players Film Company. Hungarian-born founder Adolph Zukor, who had been an early investor in nickelodeons, saw that movies appealed mainly to working-class immigrants. With partners Daniel Frohman and Charles Frohman he planned to offer feature-length films that would appeal to the middle class by featuring the leading theatrical players of the time, leading to the slogan "Famous Players in Famous Plays". By mid-1913, Famous Players had completed five films, and Zukor was on his way to success. Its first film was Les Amours de la reine Élisabeth, which starred Sarah Bernhardt.

That same year, another aspiring producer, Jesse L. Lasky, opened Jesse L. Lasky Feature Play Company with money borrowed from his brother-in-law, Samuel Goldfish, later known as Samuel Goldwyn. The Jesse L. Lasky Feature Play Company hired as their first employee a stage director with virtually no film experience, Cecil B. DeMille, who found a suitable site in Hollywood. This place was a rented old horse barn converted into a production facility with an enlarged open-air stage located between Vine Street, Selma Avenue, Argyle Avenue and Sunset Boulevard. It was later known as the Lasky-DeMille Barn. In 1914, their first feature film, The Squaw Man was released.

On May 8, 1914, Paramount Pictures Corporation, previously known as Progressive Pictures, was founded by a Utah theatre owner, W. W. Hodkinson, who had bought and merged five smaller firms. On May 15, 1914, Hodkinson signed a five-year contract with the Famous Players Film Company, the Lasky Company and Bosworth, Inc. to distribute their films. Actor, director and producer Hobart Bosworth had started production of a series of Jack London movies. Paramount was the first successful nationwide distributor. Until this time, films were sold on a statewide or regional basis, which had proved costly to film producers. Also, Famous Players and Lasky were privately owned while Paramount was a corporation.

Famous Players–Lasky

In 1916, Zukor engineered a three-way merger of his Famous Players, the Lasky Company, and Paramount. Zukor and Lasky bought Hodkinson out of Paramount, and merged the three companies into one. The new company Lasky and Zukor founded on June 28, Famous Players–Lasky Corporation, although it continued to use the name "Paramount", as well. As a result, it became the largest film company at the time with a value of US$12.5 million (equivalent to $248.2 million in 2024). The corporation was able to grow quickly, with Lasky and his partners Goldwyn and DeMille running the production side, Hiram Abrams in charge of distribution, and Zukor making great plans. With only the exhibitor-owned First National as a rival, Famous Players–Lasky and its "Paramount Pictures" soon dominated the business. The fusion was finalized on November 7, 1916.

Because Zukor believed in stars, he signed and developed many of the leading early stars, including Mary Pickford, Marguerite Clark, Pauline Frederick, Douglas Fairbanks, Gloria Swanson, Rudolph Valentino, and Wallace Reid. With so many important players, Paramount was able to introduce "block booking", which meant that an exhibitor who wanted a particular star's films had to buy a year's worth of other Paramount productions. It was this system that gave Paramount a leading position in the 1920s and 1930s, but which led the government to pursue it on antitrust grounds for more than twenty years.

By the mid-1920s, the old Lasky-DeMille barn property was not big enough to handle all of the studios' West Coast productions. On January 5, 1926, Lasky reached an agreement to buy the Robert Brunton Studios, a 26-acre facility owned by United Pictures and located at 5451 Marathon Street, for $1.0 million (equivalent to $14.1 million in 2024). On March 29, the company began an eight-month building program to renovate the existing facilities and erect new ones. On May 8, 1926 Lasky moved operations from the Sunset and Vine lot to the new building. At present, those facilities are still part of the Paramount Pictures headquarters. Zukor hired independent producer B. P. Schulberg, an unerring eye for new talent, to run the new West Coast operations.

On April 1, 1927, the company name was changed to Paramount Famous Lasky Corporation. In September 1927, the Paramount Famous Lasky Corporation studio in Astoria (New York City) was temporarily closed with the objective of equipping it with the technology for the production of sound films. In the same year, Paramount began releasing Inkwell Imps, animated cartoons produced by Max and Dave Fleischer's Fleischer Studios in New York City. The Fleischers, veterans in the animation industry, were among the few animation producers capable of challenging the prominence of Walt Disney.

1920s and 1931–1940: Receivership and reorganization

Eventually, Zukor shed most of his early partners; the Frohman brothers, Hodkinson and Goldwyn were out by 1917 while Lasky hung on until 1932, when, blamed for the near-collapse of Paramount in the Great Depression years, he was also tossed out. In 1931, to solve the financial problems of the company Zukor hired taxi/rental car magnate John D. Hertz as chairman of the finance committee in order to assist vice-president and treasurer Ralph A. Kohn.

On January 6, 1933, Hertz resigned from his position when his measures to lift the company had failed. The over-expansion and use of overvalued Paramount stock for purchases created a $21 million debt which led the company into receivership on January 26, 1933, and later filing bankruptcy on March 14, 1933. On April 17, 1933, bankruptcy trustees were appointed and Zukor lost control of the company.

The company remained under the control of trustees for more than a year in order to restructure the debt and pursue a reorganization plan. On December 3, 1934, the reorganization plan was formally proposed. After prolonged hearings in court, final confirmation was obtained on April 25, 1935, when Federal Judge Alfred C. Coxe Jr. approved the reorganization of the Paramount-Publix Corporation under Section 77-B of the Bankruptcy Act.

On June 4, 1935, John E. Otterson became president of the re-emerged and newly renamed Paramount Pictures Inc. Zukor returned to the company and was named production chief but after Barney Balaban was appointed president on July 2, 1936, he was soon replaced by Y. Frank Freeman and symbolically named chairman of the board. On August 28, 1935, Paramount Pictures was re-listed on the New York Stock Exchange and when the company was under Balaban's leadership, the studio was successfully relaunched.

As always, Paramount films continued to emphasize stars. In the 1920s there were Gloria Swanson, Wallace Reid, Rudolph Valentino, Florence Vidor, Thomas Meighan, Pola Negri, Bebe Daniels, Antonio Moreno, Richard Dix, Esther Ralston, Emil Jannings, George Bancroft, Betty Compson, Clara Bow, Adolphe Menjou, and Charles Buddy Rogers.

By the late 1920s and the early 1930s, talkies brought in a range of powerful draws: Richard Arlen, Nancy Carroll, Maurice Chevalier, Gary Cooper, Marlene Dietrich, Charles Ruggles, Ruth Chatterton, William Powell, Mae West, Sylvia Sidney, Bing Crosby, Claudette Colbert, the Marx Brothers, W.C. Fields, Fredric March, Jack Oakie, Jeanette MacDonald (whose first two films were shot at Paramount's Astoria, New York, studio), Carole Lombard, George Raft, Miriam Hopkins, Cary Grant and Stuart Erwin, among them.

1941–1950: United States v. Paramount Pictures, Inc.

In 1940, Paramount agreed to a government-instituted consent decree: block booking and "pre-selling" (the practice of collecting up-front money for films not yet in production) would end. Immediately, Paramount cut back on production, from 71 films to a more modest 19 annually in the war years. Still, with more new stars like Bob Hope, Alan Ladd, Veronica Lake, Paulette Goddard, and Betty Hutton, and with war-time attendance at astronomical numbers, Paramount and the other integrated studio-theatre combines made more money than ever. At this, the Federal Trade Commission and the Justice Department decided to reopen their case against the five integrated studios. Paramount also had a monopoly over Detroit movie theaters through subsidiary company United Detroit Theaters. This led to the Supreme Court decision United States v. Paramount Pictures, Inc. (1948) holding that movie studios could not also own movie theater chains. This decision broke up Adolph Zukor's creation, with the theater chain being split into a new company, United Paramount Theaters, and effectively brought an end to the classic Hollywood studio system.

1951–1966: Split and after

With the separation of production and exhibition forced by the U.S. Supreme Court, Paramount Pictures Inc. was split in two. The film production and distribution portion of company was renamed back to Paramount Pictures Corporation, while the 1,500-screen theater chain became part of the newly-formed United Paramount Theaters on December 31, 1949. Leonard Goldenson, who had headed the chain since 1938, remained as the new company's president. The Balaban and Katz theatre division was spun off with UPT; its trademark eventually became the property of the Balaban and Katz Historical Foundation. The foundation later acquired ownership of the Famous Players trademark. Cash-rich and controlling prime downtown real estate, Goldenson began looking for investments. Barred from film-making by prior antitrust rulings, he acquired the struggling ABC television network in February 1953, leading it first to financial health, and eventually, in the mid-1970s, to first place in the national Nielsen ratings, before selling out to Capital Cities in 1985 (Capital Cities would eventually sell out, in turn, to The Walt Disney Company in 1996). United Paramount Theaters was renamed ABC Theaters in 1965 and was sold to businessman Henry Plitt in 1977. The movie theater chain was renamed Plitt Theaters. In 1985, Cineplex Odeon Corporation merged with Plitt. In later years, Paramount's television division would develop a strong relationship with ABC, providing many hit series to the network.

Paramount Pictures had been an early backer of television, launching experimental stations in 1939 in Los Angeles and Chicago. The Los Angeles station eventually became KTLA, the first commercial station on the West Coast. The Chicago station got a commercial license as WBKB in 1943, but was sold to UPT along with Balaban & Katz in 1948 and was eventually resold to CBS as WBBM-TV.

In 1938, Paramount bought a stake in television manufacturer DuMont Laboratories. Through this stake, it became a minority owner of the DuMont Television Network. Paramount also launched its own network, Paramount Television Network, in 1948 through its television unit, Television Productions, Inc.

Paramount management planned to acquire additional owned-and-operated stations ("O&Os"); the company applied to the FCC for additional stations in San Francisco, Detroit, and Boston. The FCC, however, denied Paramount's applications. A few years earlier, the federal regulator had placed a five-station cap on all television networks: no network was allowed to own more than five VHF television stations. Paramount was hampered by its minority stake in the DuMont Television Network. Although both DuMont and Paramount executives stated that the companies were separate, the FCC ruled that Paramount's partial ownership of DuMont meant that DuMont and Paramount were in theory branches of the same company. Since DuMont owned three television stations and Paramount owned two, the federal agency ruled neither network could acquire additional television stations. The FCC requested that Paramount relinquish its stake in DuMont, but Paramount refused. According to television historian William Boddy, "Paramount's checkered antitrust history" helped convince the FCC that Paramount controlled DuMont. Both DuMont and Paramount Television Network suffered as a result, with neither company able to acquire five O&Os. Meanwhile, CBS, ABC, and NBC had each acquired the maximum of five stations by the mid-1950s.

1966–1970: Early Gulf+Western era

By the early 1960s, Paramount's future was doubtful. The high-risk movie business was wobbly; the theater chain was long gone; investments in DuMont and in early pay-television came to nothing; and the Golden Age of Hollywood had just ended, even the flagship Paramount Building in Times Square was sold to raise cash, as was KTLA (sold to Gene Autry in 1964 for a then-phenomenal $12.5 million). Their only remaining successful property at that point was Dot Records, which Paramount had acquired in 1957, and even its profits started declining by the middle of the 1960s. Founding father Zukor (born 1873) was still chairman emeritus; he referred to chairman Balaban (born 1888) as "the boy". Such aged leadership was incapable of keeping up with the changing times, and in 1966, a sinking Paramount was sold to Charles Bluhdorn's industrial conglomerate, Gulf and Western Industries. Bluhdorn immediately put his stamp on the studio, installing a virtually unknown producer named Robert Evans as head of production. Despite some rough times, Evans held the job for eight years, restoring Paramount's reputation for commercial success with movies like The Odd Couple, Rosemary's Baby, Love Story, The Godfather, Paper Moon, Chinatown, and 3 Days of the Condor.

Gulf and Western also bought the neighboring Desilu Productions television studio (once the lot of RKO Pictures) from Lucille Ball in 1967. Using some of Desilu's established shows such as Star Trek, Mission: Impossible, and Mannix as a foot in the door at the networks, the newly reincorporated Paramount Television eventually became known as a specialist in half-hour situation comedies.

In 1968, Paramount formed Films Distributing Corp to distribute sensitive film product, including Sin With a Stranger, which was one of the first films to receive an X rating in the United States when the MPAA introduced their new rating system.

1971–1980: CIC formation and high-concept era

In 1970, Paramount teamed with Universal Pictures to form Cinema International Corporation, a new company that would distribute films by the two studios outside the United States. Metro-Goldwyn-Mayer would become a partner in 1973. Both Paramount and CIC entered the video market with Paramount Home Video (now Paramount Home Entertainment) and CIC Video, respectively.

Robert Evans abandoned his position as head of production in 1974; his successor, Richard Sylbert, proved to be too literary and too tasteful for Gulf and Western's Bluhdorn. By 1976, a new, television-trained team was in place, headed by Barry Diller and his "Killer-Dillers", as they were called by admirers or "Dillettes" as they were called by detractors. These associates, made up of Michael Eisner, Jeffrey Katzenberg, Dawn Steel, and Don Simpson, would each go on and head up major movie studios of their own later in their careers.

The Paramount specialty was now simpler. "High concept" pictures such as Saturday Night Fever and Grease hit big, hard, and fast all over the world, while its fortuitous earlier acquisition of the Star Trek property, which had grown into a cult favorite, enabled Paramount to have a long running science fiction film and television franchise to compete with the outstanding popular success of Star Wars. Diller's television background led him to propose one of his longest-standing ideas to the board: Paramount Television Service, a fourth commercial network. Through Gulf and Western, Paramount Pictures purchased the Hughes Television Network (HTN), including its satellite time in planning for PTVS in 1976. Paramount sold HTN to Madison Square Garden Corporation in 1979. But Diller believed strongly in the concept, and so took his fourth-network idea with him when he moved to 20th Century Fox in 1984, where Fox's then freshly installed proprietor, Rupert Murdoch was a more interested listener.

However, the television division would be playing catch-up for over a decade after Diller's departure in 1984 before launching its own television network – UPN – in 1995. Lasting eleven years before being merged with The WB network to become The CW in 2006, UPN would feature many of the shows it originally produced for other networks, and would take numerous gambles on series such as Star Trek: Voyager and Star Trek: Enterprise that would have otherwise either gone direct-to-cable or become first-run syndication to independent stations across the country (as Star Trek: Deep Space Nine and Star Trek: The Next Generation were).

1980–1994: Continual success

Paramount's successful run of pictures extended into the 1980s and 1990s, generating hits like Airplane!, American Gigolo, Ordinary People, An Officer and a Gentleman, Flashdance, Terms of Endearment, Footloose, Pretty in Pink, Top Gun, Crocodile Dundee, Fatal Attraction, Ghost, the Friday the 13th slasher series, as well as joining forces with Lucasfilm and Steven Spielberg to create the Indiana Jones franchise. Other examples are the Star Trek film series and a string of films starring comedian Eddie Murphy like Trading Places, Coming to America and Beverly Hills Cop and its sequels. While the emphasis was decidedly on the commercial, there were occasional less commercial but more artistic and intellectual efforts like I'm Dancing as Fast as I Can, Atlantic City, Reds, Witness, Children of a Lesser God and The Accused. During this period, responsibility for running the studio passed from Eisner and Katzenberg to Frank Mancuso, Sr. (1984) and Ned Tanen (1984) to Stanley R. Jaffe (1991) and Sherry Lansing (1992). More so than most, Paramount's slate of films included many remakes and television spin-offs; while sometimes commercially successful, there have been few compelling films of the kind that once made Paramount the industry leader.

Around the end of 1981, Paramount Pictures took over fellow Gulf and Western subsidiary Sega from the company's manufacturing division in an effort to get into the video game business. Paramount sold Sega following the video game industry crash of 1983, and the two companies would later work together on the live-action/CGI Sonic the Hedgehog film series.

On August 25, 1983, Paramount Studios caught fire. Two or three sound stages and four outdoor sets were destroyed.

When Charles Bluhdorn died unexpectedly, his successor, Martin Davis, dumped all of Gulf and Western's industrial, mining, and sugar-growing subsidiaries and refocused the company, renaming it Paramount Communications in 1989. With the influx of cash from the sale of Gulf and Western's industrial properties in the mid-1980s, Paramount bought a string of television stations and KECO Entertainment's theme park operations, renaming them Paramount Parks. These parks included Paramount's Great America, Paramount Canada's Wonderland, Paramount's Carowinds, Paramount's Kings Dominion, and Paramount's Kings Island.

In May 1985, Paramount decided to start its own talent department, an attempt to form a stable of exclusively contracted film personnel (outside of Eddie Murphy); this effort proved unsuccessful, and studio president Dawn Steel decided to shut down the department on July 30, 1986. In 1987, Paramount Pictures, MGM/UA Communications Co. and Universal Pictures teamed up in order to market feature film and television product to China, a response to the 25-billion admission tickets that were clocked in the country in 1986. Worldwide Media Sales, a division of the New York-based Worldwide Media Group, had been placed in charge of the undertaking. That year, Paramount Pictures decided to consolidate its distribution operations, closing a number of branch offices that were designed for the studio and relocating staff and major activities in an effort to cut costs and provide for a more efficient centralization; this decision was made in response to a change in distribution practices that had occurred among the various major studios. In August 1987, Paramount Overseas Productions declared that the subsidiary would be in service not just for the upcoming film Experts, which was shot on a budget of $12 million in Canada, but also for other films filmed there worldwide, including the United Kingdom and Canada.

1989–1994: Paramount Communications

In 1983, Gulf and Western began a restructuring process that would transform the corporation from a bloated conglomerate consisting of subsidiaries from unrelated industries to a more focused entertainment and publishing company. The idea was to aid financial markets in measuring the company's success, which, in turn, would help place a better value on its shares. Though its Paramount division did very well in recent years, Gulf and Western's success as a whole was translating poorly with investors. This process eventually led Davis to divest many of the company's subsidiaries. Its sugar plantations in Florida and the Dominican Republic were sold in 1985; the consumer and industrial products branch was sold off that same year. In 1989, Davis renamed the company Paramount Communications Incorporated after its primary asset, Paramount Pictures. The company's ticker symbol was changed from GW to PCI. In addition to the Paramount film, television, home video, and music publishing divisions, the company continued to own the Madison Square Garden properties (which also included MSG Network), a 50% stake in USA Networks (the other 50% was owned by MCA/Universal Pictures) and Simon & Schuster, Prentice Hall, Pocket Books, Allyn & Bacon, Cineamerica (a joint venture with Warner Communications), and Canadian cinema chain Famous Players Theatres.

That same year, the company launched a $12.2 billion hostile bid to acquire Time Inc. in an attempt to end a stock-swap merger deal between Time and Warner Communications. This caused Time to raise its bid for Warner to $14.9 billion in cash and stock. Gulf and Western responded by filing a lawsuit in a Delaware court to block the Time-Warner merger. The court ruled twice in favor of Time, forcing Gulf and Western to drop both the Time acquisition and the lawsuit, and allowing the formation of Time Warner.

Paramount used cash acquired from the sale of Gulf and Western's non-entertainment properties to take over the TVX Broadcast Group chain of television stations (which at that point consisted mainly of large-market stations which TVX had bought from Taft Broadcasting, plus two mid-market stations which TVX owned prior to the Taft purchase), and the KECO Entertainment chain of theme parks from Taft successor Great American Broadcasting. Both of these companies had their names changed to reflect new ownership: TVX became known as the Paramount Stations Group, while KECO was renamed to Paramount Parks.

Paramount Television launched Wilshire Court Productions in conjunction with USA Networks, before the latter was renamed NBCUniversal Cable, in 1989. Wilshire Court Productions (named for a side street in Los Angeles) produced television films that aired on the USA Networks, and later for other networks. USA Networks launched a second channel, the Sci-Fi Channel (now known as Syfy), in 1992. As its name implied, it focused on films and television series within the science fiction genre. Much of the initial programming was owned either by Paramount or Universal. Paramount bought one more television station in 1993: Cox Enterprises' WKBD-TV in Detroit, Michigan, at the time an affiliate of the Fox Broadcasting Company.

1994–2005: Dolgen/Lansing and "old" Viacom era

In February 1994, Viacom acquired 50.1% of Paramount Communications Inc. shares for $9.75 billion, following a five-month battle with QVC, and completed the merger in July. At the time, Paramount's holdings included Paramount Pictures, Madison Square Garden, the New York Rangers, the New York Knicks, and the Simon & Schuster publishing house. The deal had been planned as early as 1989, when the company was still known as Gulf and Western. Though Davis was named a member of the board of National Amusements, which controlled Viacom, he ceased to manage the company.

During this time period, Paramount Pictures went under the guidance of chairman Jonathan Dolgen and president Sherry Lansing. During their administration over Paramount, the studio had an extremely successful period of films with two of Paramount's ten highest-grossing films being produced during this period. The most successful of these films, Titanic, co-produced with 20th Century Fox and Lightstorm Entertainment, became the highest-grossing film up to that time, grossing over $1.8 billion worldwide. Also during this time, three Paramount Pictures films won the Academy Award for Best Picture; Titanic, Braveheart, and Forrest Gump.

Paramount's most important property, however, was Star Trek. Studio executives had begun to call it "the franchise" in the 1980s due to its reliable revenue, and other studios envied its "untouchable and unduplicatable" success. By 1998, Star Trek television shows, movies, books, videotapes, and licensing provided so much of the studio's profit that "it is not possible to spend any reasonable amount of time at Paramount and not be aware of [its] presence"; filming for Star Trek: Voyager and Star Trek: Deep Space Nine required up to nine of the largest of the studio's 36 sound stages.

In 1995, Viacom and Chris-Craft Industries' United Television launched United Paramount Network (UPN) with Star Trek: Voyager as its flagship series, fulfilling Barry Diller's plan for a Paramount network from 25 years earlier. In 1999, Viacom bought out United Television's interests, and handed responsibility for the start-up network to the newly acquired CBS unit, which Viacom bought in 2000 – an ironic confluence of events as Paramount had once invested in CBS, and Viacom had once been the syndication arm of CBS, as well. During this period the studio acquired some 30 television stations to support the UPN network, also acquiring and merging in the assets of Republic Pictures, Spelling Television and Viacom Productions, almost doubling the size of the studio's television library. The television division produced big hits like Frasier, as well as such long-running hits as NCIS and Becker and the dominant prime time magazine show Entertainment Tonight. Paramount also gained the ownership rights to the Rysher library, after Viacom acquired the rights from Cox Enterprises.

2005–2019: "New" Viacom era

On December 11, 2005, the Paramount Motion Pictures Group announced that it had purchased DreamWorks SKG (which was co-founded by former Paramount executive Jeffrey Katzenberg) in a deal worth $1.6 billion. The announcement was made by Brad Grey, chairman and CEO of Paramount Pictures who noted that enhancing Paramount's pipeline of pictures is a "key strategic objective in restoring Paramount's stature as a leader in filmed entertainment." While the agreement did not include DreamWorks Animation SKG Inc., the most profitable part of the company that went public the previous year, Paramount became the distributor of DreamWorks Animation films from 2006 to 2012. 20th Century Fox would take over distribution beginning in 2013 to 2016, followed by Universal Pictures permanently from 2016 following NBCUniversal's acquisition of the animated studio in 2016.

Reflecting in part the troubles of the broadcasting business, in 2005 Viacom wrote off over $18 billion from its radio acquisitions and, early that year, announced that it would split itself in two. With that announcement, Dolgen and Lansing were replaced by former television executives Brad Grey and Gail Berman. The Viacom board split the company into CBS Corporation and a separate company under the Viacom name. The board scheduled the division for the first quarter of 2006. Under the plan, CBS Corporation would comprise the CBS and UPN networks, Viacom Television Stations, Infinity Broadcasting Corporation, Viacom Outdoor, Paramount Television, King World Productions, Showtime Networks, Simon & Schuster, Paramount Parks, and CBS News. The revamped Viacom would include "MTV, VH1, Nickelodeon, BET and several other cable networks, as well as the Paramount movie studio". The split was completed on December 31, 2005. Paramount's home entertainment unit began using the CBS DVD brand for the Paramount Television library, as both Viacom and CBS Corporation were controlled by Sumner Redstone's National Amusements.

Grey also broke up the famous United International Pictures (UIP) international distribution company with 15 countries being taken over by Paramount or Universal by December 31, 2006, with the joint venture continuing in 20 markets. In Australia, Brazil, France, Ireland, Mexico, New Zealand, and the United Kingdom, Paramount took over UIP. While in Austria, Belgium, Germany, Italy, the Netherlands, Russia, Spain, and Switzerland, Universal took over and Paramount would build its own distribution operations there. In 2007 and 2008, Paramount may sub-distribute films via Universal's countries and vice versa. Paramount's international distribution unit would be headquartered in Los Angeles and have a European hub. In Italy, Paramount distributed through Universal. With Universal indicated that it was pulling out of the UIP Korea and started its own operation there in November 2016, Paramount agreed to have CJ Entertainment distribute there. UIP president and chief operating officer Andrew Cripps was hired as Paramount Pictures International head. Paramount Pictures International distributed films that made the 1 billion mark in July 2007; the fifth studio that year to do so and it its first year.

2019–2025: ViacomCBS/Paramount Global era

On September 29, 2016, National Amusements sent a letter to both CBS Corporation and Viacom, encouraging the two companies to merge back into one company. On December 12, the deal was called off. On May 30, 2019, CNBC reported that CBS and Viacom would explore merger discussions in mid-June 2019. Reports say that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies. CBS announced to acquire Viacom as part of the re-merger for up to $15.4 billion. On August 2, 2019, the two companies agreed to remerge back into one entity, which was named ViacomCBS; the deal was closed on December 4, 2019.

In December 2019, ViacomCBS agreed to purchase a 49% stake in Miramax that was owned by beIN Media Group, with Paramount gaining the distribution of the studio's 700-film library, as well as its future releases. Also, Paramount would produce television series based on Miramax's IPs. The deal officially closed on April 3, 2020. ViacomCBS later announced that it would rebrand the CBS All Access streaming service as Paramount+ to allow for international expansion using the widely recognized Paramount name and drawing from the studio's library, as well as that of CBS, MTV, Nickelodeon, and more.

Gianopulos was fired in September 2021 and replaced by Nickelodeon president Brian Robbins.

In January 2022, Paramount Pictures acquired the rights to Tomi Adeyemi's young adult fantasy novel Children of Blood and Bone from Lucasfilm and 20th Century Studios. As part of the acquisition, the film would have a guaranteed exclusive theatrical release while Adeyemi would write the screenplay and serve as executive producer. The film adaptation is also be produced by Temple Hill Entertainment and Sunswept Entertainment.

On February 16, 2022, ViacomCBS changed its name to Paramount Global, after the studio.

On March 8, 2022, Paramount Players' operations were folded into Paramount Pictures Motion Picture Group. However, it continues to operate as a label as it has several upcoming films on its slate.

2025–present: Paramount Skydance era

In 2024, terms were set for the merger between Paramount Global and Skydance Media, at a valuation of $28 billion. Negotiations continued into 2025 among the investment teams with David Ellison, the CEO of Skydance, and Shari Redstone. In July 2025, the merger received regulatory approval, setting a path for Ellison to become CEO of Paramount. The deal closed the following month, forming Paramount Skydance.

In July 2026, it was reported that Paramount was among several parties—including Netflix and Sony Pictures Entertainment—in early talks to buy online film discovery platform Letterboxd.

Investments

DreamWorks Pictures

In 2006, Paramount became the parent of DreamWorks Pictures. Soros Strategic Partners and Dune Entertainment II soon afterwards acquired controlling interest in live-action films released through DreamWorks, with the release of Just Like Heaven on September 16, 2005. The remaining live-action films released until March 2006 remained under direct Paramount control. However, Paramount still owns distribution and other ancillary rights to Soros and Dune films.

On February 8, 2010, Viacom repurchased Soros' controlling stake in DreamWorks' library of films released before 2005 for around $400 million. Even as DreamWorks switched distribution of live-action films not part of existing franchises to Walt Disney Studios Motion Pictures for post-2010 titles beginning with I Am Number Four (2011) and ending with The Light Between Oceans (September 2016). Universal Pictures later took over distribution for DreamWorks' films beginning with The Girl on the Train (October 2016) as part of a distribution deal via the studio's new parent company, Amblin Partners, which NBCUniversal later acquired a minority stake in 2017.

Paramount continues to own the films released before the merger, and the films that Paramount themselves distributed, including sequel rights such as that of Little Fockers (2010), distributed by Paramount and DreamWorks. It was a sequel to two existing DreamWorks films, Meet the Parents (2000) and Meet the Fockers (2004). Paramount only owned the international distribution rights to Little Fockers, whereas Universal Pictures handled domestic distribution.

Paramount also owned distribution rights to the DreamWorks Animation (DWA) library of films made before 2013, and their previous distribution deal with future DWA titles expired at the end of 2012, with Rise of the Guardians. 20th Century Fox took over distribution for post-2012 titles beginning with The Croods (2013) and ending with Captain Underpants: The First Epic Movie (2017). Universal Pictures subsequently took over distribution for DreamWorks Animation's films beginning with How to Train Your Dragon: The Hidden World (2019) due to NBCUniversal's acquisition of the company in 2016. Paramount's rights to the 1998–2012 DWA library would have expired 16 years after each film's initial theatrical release date, but in July 2014, DreamWorks Animation purchased Paramount's distribution rights to the pre-2013 library, with 20th Century Fox distributing the library until January 2018, which Universal then assumed ownership of distribution rights.

CBS library

Independent company Hollywood Classics represents Paramount with the theatrical distribution of all the films produced by the various motion picture divisions of CBS over the years, as a result of the 2000 Viacom/CBS merger.

Paramount has outright video distribution to the aforementioned CBS library with some exceptions; less-demanded content is usually released manufactured-on-demand by CBS themselves or licensed to Visual Entertainment Inc. As of the 2019 Viacom/CBS merger, this library now includes the theatrical distribution of Terrytoons short films on behalf of Paramount Animation, while CBS Media Ventures owns the television distribution. Until 2009, the video rights to My Fair Lady were with original theatrical distributor Warner Bros. Pictures, under license from CBS. The video license to that film has now reverted to Paramount.

Units

Divisions

Paramount Pictures

Paramount Home Entertainment

Paramount DVD

Paramount High Definition (HD DVD and Blu-Ray)

Paramount Television Studios

Paramount Licensing, Inc.

Paramount Pictures International

Paramount Players

Nickelodeon Movies

Paramount Studio Group – physical studio and post production

The Studios at Paramount – production facilities & lot

Paramount on Location – production support facilities throughout North America including New York City, Vancouver, and Atlanta

Worldwide Technical Operations – archives, restoration and preservation programs, the mastering and distribution fulfillment services, on-lot post production facilities management

Paramount Parks & Resorts, licensing and design for parks and resorts

Paramount Animation

Paramount Music

Skydance Sports

Skydance Animation

United International Pictures (co-owned with Comcast's Universal Pictures)

Miramax (co-owned with BeIN Media Group)

Former divisions, subsidiaries, and joint ventures

Paramount Digital Entertainment (Dormant)

Paramount Television (original) (now CBS Studios)

Big Ticket Entertainment (semi-in-name-only since 2006; currently produces The Drew Barrymore Show and Hot Bench)

Spelling Television (in-name-only since 2006)

Viacom Productions (folded into PNT in 2004)

Wilshire Court Productions (shut down in 2003)

Paramount Domestic Television (now CBS Media Ventures)

Folded Viacom Enterprises in 1995 and Rysher Entertainment and Worldvision Enterprises in 1999

RTV News, Inc., producer of Real TV and Maximum Exposure

United Paramount Network (UPN) – formerly a joint venture with United Television, now part of Nexstar/Paramount Global/Warner Bros. Discovery joint venture The CW Television Network

Paramount Stations Group (now CBS News and Stations)

USA Networks (also including the Sci-Fi Channel) – Paramount owned a stake starting in 1982, 50% owner (with Universal Pictures) from 1987 until 1997, when Paramount/Viacom sold their stake to Universal (now part of NBCUniversal)

Paramount International Television – merged with CBS Broadcast International in 2004 to form CBS Studios International

Paramount Television Studios – second television division (2013–2024); operations folded into CBS Studios

Other interests

In March 2012, Paramount licensed their name and logo to a luxury hotel investment group, which named the company Paramount Hotels and Resorts. The investors plan to build 50 hotels throughout the world based on the themes of Hollywood and the California lifestyle. Among the features are private screening rooms and the Paramount library available in the hotel rooms. In April 2013, Paramount Hotels and Dubai-based DAMAC Properties announced the building of the first resort: "DAMAC Towers by Paramount."

Logo

The distinctively pyramidal Paramount mountain has been the mainstay of the company's production logo since its inception and is the oldest surviving Hollywood film logo. In the sound era, the logo was accompanied by a fanfare called Paramount on Parade after the film of the same name, released in 1930. The words to the fanfare, originally sung in the 1930 film, were "Proud of the crowd that will never be loud, it's Paramount on Parade."

The original Paramount Pictures logo was possibly modeled after Ben Lomond, Utah. Hodkinson, who was a native of the Ogden area, allegedly drew the initial version of the logo – Ben Lomond, drawn from memory, with a border of stars, which later became a partial circle surrounding the mountain – on a napkin during a meeting in 1914.

The motion picture logo has gone through many changes over the years:

The logo began as a somewhat indistinct charcoal rendering of the mountain ringed with superimposed stars. The logo originally had twenty-four stars, as a tribute to the then current system of contracts for actors, since Paramount had twenty-four stars signed at the time.

In 1951, the logo was redesigned as a matte painting created by Jan Domela.

A newer, more realistic-looking logo debuted in 1953 for Paramount films made in 3D. It was reworked in early-to-mid 1954 for Paramount films made in widescreen process VistaVision. The text VistaVision – Motion Picture High Fidelity was often imposed over the Paramount logo briefly before dissolving into the title sequence. In early 1968, the text "A Paramount Picture/Release" was shortened to "Paramount", the byline A Gulf+Western Company since the Gulf+Western owns Paramount Pictures Corporation in 1966 appeared on the bottom, and the number of stars being reduced to 22. In 1974, another redesign was made, with the Paramount text and Gulf+Western byline appearing in different fonts.

In May or June 1975, the logo was simplified in a shade of blue, adopting the modified design of the 1968 print logo, which was in use for many decades afterward. A version of the print logo had been in use by Paramount Television since 1968, for the first movie of the 1975 horror movie Bug (1975) at the end.

Studio tours

Paramount Studios offers tours of their studios. The 2-hour Studio Tour offers, as the name implies, a regular tour of the studio. The stages where Samson and Delilah, Sunset Blvd., White Christmas, Rear Window, Sabrina, Breakfast at Tiffany's, and many other classic films were shot are still in use today. The studio's backlot features numerous blocks of façades that depict a number of New York City locales, such as "Washington Square", "Brooklyn", and "Financial District". The After Dark Tour involves a tour of the Hollywood Forever Cemetery.

Filmography

A few years after the ruling of the United States v. Paramount Pictures, Inc. case in 1948, Music Corporation of America (MCA) approached Paramount offering $50 million for 750 sound feature films released prior to December 1, 1949, with payment to be spread over a period of several years. Paramount saw this as a bargain since the fleeting movie studio saw very little value in its library of old films at the time. To address any antitrust concerns, MCA set up EMKA, Ltd. as a dummy corporation to sell these films to television. EMKA's/Universal Television's library includes the five Paramount Marx Brothers films, most of the Bob Hope–Bing Crosby Road to... pictures, and other classics such as Trouble in Paradise, Shanghai Express, She Done Him Wrong, Remember the Night, Sullivan's Travels, The Palm Beach Story, For Whom the Bell Tolls, Double Indemnity, The Lost Weekend, and The Heiress.

Highest-grossing films

‡ — Includes theatrical reissue(s)

Studio stages

Latino and Hispanic representation

On July 31, 2018, Paramount was targeted by the National Hispanic Media Coalition and the National Latino Media Council, which have both claimed that the studio has the worst track record of hiring Latino and Hispanic talent both in front of and behind the camera (the last Paramount film directed by a Hispanic director was Rings in 2017). In response, Paramount released the statement: "We recently met with NHMC in a good faith effort to see how we could partner as we further drive Paramount's culture of diversity, inclusion, and belonging. Under our new leadership team, we continue to make progress — including ensuring representation in front of and behind the camera in upcoming films such as Dora the Explorer, Instant Family, Bumblebee, and Limited Partners – and welcome the opportunity to build and strengthen relationships with the Latino creative community further."

The NHMC protested at the Paramount Pictures lot on August 25. More than 60 protesters attended, while chanting "Latinos excluded, time to be included!". NHMC president and CEO Alex Nogales vowed to continue the boycott until the studio signed a memorandum of understanding.

On October 17, the NHMC protested at the Paramount film lot for the second time in two months, with 75 protesters attending. The leaders delivered a petition signed by 12,307 people and addressed it to Jim Gianopulos.