Paramount Communications
| File:Paramount Pictures 2022.svg Logo used since 2022 | |
| Company type | Subsidiary |
|---|---|
| Industry | Film production and distribution |
| Founded | 1912 |
| Founder | Adolph Zukor |
| Headquarters | Hollywood, Los Angeles, California , United States |
Area served | Worldwide |
| Products | Motion pictures, television programs |
| Owner | Paramount Global |
| Parent | Paramount Global |
Paramount Pictures Corporation, commonly referred to as Paramount Pictures or simply Paramount, is a prominent American company specializing in film production and distribution. It serves as the primary subsidiary of Paramount Global. Established in 1912, it holds the distinction of being the sixth oldest film studio worldwide and the second oldest within the United States, ranking among the "Big Five" major studios headquartered in Los Angeles.
In 1916, its founder Adolph Zukor signed contracts with 24 actors, each commemorated with a star featured on the company’s logo—a design later refined to include 22 stars in 1967. Significantly, Paramount was the first major Hollywood studio to distribute all its films exclusively via digital formats in 2014. The company’s main offices and production facilities are situated at 5555 Melrose Avenue in Hollywood, California.
Among Paramount’s most lucrative franchises are Transformers, Mission: Impossible, and Star Trek. Its vast catalog includes landmark films like The Godfather and Titanic, both of which ranked among the highest earners at their time of release. As a member of the Motion Picture Association, Paramount functions under the umbrella of the Paramount Motion Picture Group, holding significant shares in Miramax (49%) and United International Pictures (50%), while also managing divisions such as Paramount Players and the reestablished Republic Pictures.
Famous Players Film Company
As the sixth oldest surviving studio globally and the last major one based in Hollywood, Los Angeles, Paramount traces its roots to 1912 with the founding of the Famous Players Film Company by Hungarian-born businessman Adolph Zukor. An early backer of nickelodeons, Zukor sought to attract working-class immigrants. Collaborating with Daniel and Charles Frohman, his goal was to produce feature-length motion pictures that appealed to middle-class audiences by featuring prominent theatrical performers, encapsulated by the motto "Famous Players in Famous Plays." By mid-1913, Famous Players had produced five films, beginning with Les Amours de la reine Élisabeth, starring Sarah Bernhardt.
In 1913, producer Jesse L. Lasky established the Lasky Feature Play Company with financial support from his brother-in-law Samuel Goldfish (who later became known as Samuel Goldwyn). They recruited stage director Cecil B. DeMille, who set up a production facility in Hollywood known as the Lasky-DeMille Barn. Their inaugural feature film, The Squaw Man (1914), became an early notable success.
On May 8, 1914, Utah theater proprietor W. W. Hodkinson founded Paramount Pictures Corporation by merging five smaller companies. Soon thereafter, Hodkinson negotiated a five-year distribution agreement with Famous Players, Lasky Company, and Bosworth, Inc., establishing Paramount as the first effective nationwide film distributor. This innovative approach streamlined costs for producers by eliminating regional sales representatives. During this period, Famous Players and Lasky remained privately held entities while Paramount operated as a corporation.
Famous Players–Lasky
In 1916, Adolph Zukor facilitated the union of his Famous Players company with the Lasky Company and Paramount, forming the Famous Players–Lasky Corporation on June 28. This merger, valued at $12.5 million (equivalent to more than $300 million today), created the largest film enterprise of its era. Operating under the "Paramount" label, production was managed by Jesse Lasky, Samuel Goldwyn, and Cecil B. DeMille, distribution was led by Hiram Abrams, and Zukor directed overall strategic expansion. With First National Pictures as its chief rival, Famous Players–Lasky swiftly became a dominant force in the motion picture industry. The consolidation was officially completed on November 7, 1916.
Zukor’s approach centered on leveraging star appeal by signing prominent actors such as Mary Pickford, Douglas Fairbanks, Gloria Swanson, and Rudolph Valentino. This strategy enabled Paramount to enforce "block booking," a system requiring theater owners to purchase a full year’s lineup of films in order to screen productions featuring major stars—an approach that secured substantial market control but later faced extended antitrust challenges.
By the mid-1920s, the need for expanded production facilities prompted Lasky to acquire the 26-acre Robert Brunton Studios in 1926 for $1 million (approximately $16 million today), establishing a vital component of Paramount’s West Coast operations. Subsequent renovations and new building projects were undertaken, with activities relocating there in May 1926. Independent producer B.P. Schulberg was appointed to oversee production on the West Coast.
On April 1, 1927, the firm was renamed the Paramount Famous Lasky Corporation. That same year, Paramount upgraded its Astoria studio in New York City to accommodate sound film production, demonstrating an early commitment to advances in "talkies." The company also ventured into animation distribution through Fleischer Studios' Inkwell Imps, providing competition to Walt Disney's dominance. The Paramount Newsreel series debuted in 1927 and continued for thirty years. In 1929, Paramount introduced its first musical feature, Innocents of Paris, starring Maurice Chevalier with music composed by Richard A. Whiting and Leo Robin, reinforcing its position as an innovator in entertainment and market leadership.
Publix, Balaban and Katz, Loew's competition and wonder theaters
Guided by founder Adolph Zukor’s strategic vision, Paramount grew to nearly 2,000 screens and maintained two primary studios located in Astoria, New York, and Hollywood, California. Additionally, Zukor diversified the company's portfolio by acquiring a 50% ownership stake in Columbia Broadcasting System (CBS) in 1928, marking an early foray into radio broadcasting.
The 1926 purchase of the Balaban & Katz theater chain brought influential executives into Paramount’s leadership ranks: Barney Balaban became president in 1936 while his brother A. J. Balaban directed stage productions nationwide. Their associate Sam Katz managed the Paramount-Publix theater circuit from the iconic Paramount Theatre Building situated in Times Square, New York City.
Balaban & Katz pioneered the "Wonder Theater" concept through lavish venues such as Chicago’s Chicago Theater. Following this acquisition, Publix began expanding this concept starting in 1927 with a focus on New York City theaters. However, Loew's held a dominant position in New York and negotiated a non-competition pact with Publix: Loew's developed five Wonder Theaters within New York while Publix concentrated its expansion efforts throughout Chicago and nearby regions.
On April 24, 1930, the company adopted the name Paramount Publix Corporation, reflecting its integrated approach combining film production and exhibition aimed at strengthening market presence and improving financial outcomes.
1920s and 1931–1940: Financial Distress and Corporate Restructuring
By 1917, Adolph Zukor had parted ways with most of his initial collaborators; the Frohman brothers, Hodkinson, and Goldwyn exited the company, while Jesse Lasky remained until 1932 before being removed amid Paramount’s financial crisis during the Great Depression. In 1931, Zukor appointed taxi entrepreneur John D. Hertz as chairman of the finance committee to tackle the company's monetary challenges, working alongside vice-president and treasurer Ralph A. Kohn. However, Hertz stepped down in January 1933 after his attempts to stabilize the firm proved unsuccessful. Excessive expansion combined with inflated stock acquisitions resulted in a $21 million debt, forcing Paramount into receivership on January 26, 1933, and subsequently filing for bankruptcy in March. Control was transferred to bankruptcy trustees on April 17, 1933, temporarily ending Zukor’s leadership as the company restructured its liabilities and sought reorganization.
A reorganization proposal was submitted in December 1934 and received approval from Federal Judge Alfred C. Coxe Jr. in April 1935 under Section 77-B of the Bankruptcy Act. On June 4, 1935, John E. Otterson assumed the presidency of the newly established Paramount Pictures Inc.. Zukor returned to oversee production but was soon succeeded by Y. Frank Freeman when Barney Balaban became president in July 1936; Zukor then took on a largely ceremonial chairman position. Paramount was relisted on the New York Stock Exchange in August 1935 and experienced a successful revival under Balaban’s strategic direction.
During this era, Paramount focused heavily on star-driven productions showcasing performers such as Gloria Swanson, Rudolph Valentino, Clara Bow, Gary Cooper, Marlene Dietrich, Mae West, Bing Crosby, Claudette Colbert, the Marx Brothers, Cary Grant, among others. The studio maintained an output of sixty to seventy films annually, capitalizing on its vast theater network and block booking practices to dominate market share. Mae West’s daring films She Done Him Wrong and I'm No Angel (1933) notably increased profits but also triggered stricter enforcement of the Production Code due to pressure from the Catholic Legion of Decency.
Paramount’s animation branch flourished with Fleischer Studios' iconic characters like Betty Boop and Popeye the Sailor—Popeye even surpassing Mickey Mouse in popularity by 1935. Following internal disputes and unsuccessful feature-length projects, Fleischer Studios was acquired by Paramount and renamed Famous Studios. Although Famous Studios continued producing animated shorts until 1967, it never matched the artistic success achieved during the Fleischer brothers’ tenure.
1941–1950: United States v. Paramount Pictures, Inc.
In 1940, Paramount consented to a government decree terminating block booking and "pre-selling" practices. Despite production dropping from 71 to 19 films per year during World War II, strong audience attendance and emerging stars like Bob Hope and Veronica Lake helped maintain revenue streams. This led both the Federal Trade Commission and Justice Department to revive antitrust investigations against vertically integrated studios. Paramount’s dominance over Detroit theaters through United Detroit Theaters culminated in the 1948 Supreme Court decision in United States v. Paramount Pictures, Inc., which barred studios from owning theater chains. This ruling dismantled Adolph Zukor’s empire by creating United Paramount Theaters and marked the end of Hollywood's traditional studio system.
1951–1966: Division and Subsequent Developments
In response to the Supreme Court ruling, Paramount Pictures Inc. was divided into two entities: Paramount Pictures Corporation, responsible for production and distribution, and United Paramount Theaters (UPT), which operated approximately 1,500 screens by the end of 1949. Leonard Goldenson, president of UPT, utilized the company's financial assets and valuable real estate holdings to purchase the struggling ABC television network in 1953. Under his guidance, ABC evolved into a major broadcasting force by the mid-1970s before its sale to Capital Cities in 1985. UPT was renamed ABC Theaters in 1965, later sold to Henry Plitt in 1977, and eventually merged with Cineplex Odeon in 1985. Paramount’s television arm continued to maintain significant collaborations with ABC, providing numerous successful series.
Paramount was an early adopter of television technology, launching experimental stations such as KTLA in Los Angeles and WBKB in Chicago. The company also invested in DuMont Laboratories, becoming a minority stakeholder in the DuMont Television Network, and established its own Paramount Television Network in 1948. However, Federal Communications Commission (FCC) rules restricting networks to five owned-and-operated stations hindered Paramount’s ability to expand due to its investment in DuMont. The FCC mandated that Paramount divest its interest in DuMont; Paramount's refusal constrained growth opportunities for both networks relative to competitors like CBS, ABC, and NBC.
In 1953, UPT merged with ABC, but a proposed merger between DuMont and ABC was blocked by Paramount citing antitrust issues, which contributed to DuMont's demise by 1956. Additionally, Paramount invested in International Telemeter in 1951, an early pay-TV venture that ceased operations under FCC pressure in 1954.
Following the divestiture of its theater chain, Paramount scaled back studio-backed productions and released many contract actors, increasingly relying on independent film agreements. By the mid-1950s, only a handful of major stars remained under contract; notable filmmaker Cecil B. DeMille continued producing epic films including the successful 1956 remake of The Ten Commandments until his death in 1959. In 1958, Paramount sold a library of 764 pre-1950 films to MCA/EMKA (now Universal Television), signaling a shift away from prioritizing ownership of its film catalog.
1966–1970: The Initial Gulf+Western Period
By the early 1960s, Paramount confronted significant challenges. The instability of the film industry, loss of its theater operations, unsuccessful ventures with DuMont and pay television, coupled with the conclusion of Hollywood’s Golden Age placed financial strain on the company. To generate capital, key properties such as the Paramount Building and KTLA were sold. Dot Records—acquired in 1957—remained profitable initially but declined by the mid-1960s. Leadership under aging executives like founder Adolph Zukor and chairman Barney Balaban struggled to navigate these difficulties.
In 1966, Gulf and Western Industries—a diversified industrial conglomerate led by Charles Bluhdorn—acquired Paramount, marking a strategic redirection for the studio. Bluhdorn appointed Robert Evans as head of production; Evans played a crucial role in rejuvenating Paramount’s market position through successful films including The Odd Couple, Rosemary's Baby, Love Story, The Godfather, Paper Moon, Chinatown, and 3 Days of the Condor. His leadership was instrumental in restoring the studio’s commercial viability over an eight-year period.
Gulf and Western further expanded its entertainment holdings by purchasing Desilu Productions from Lucille Ball in 1967. This acquisition brought established television series such as Star Trek, Mission: Impossible, and Mannix into Paramount’s portfolio, bolstering its influence within network programming—particularly regarding half-hour sitcoms.
In 1968, Paramount founded Films Distributing Corp to manage sensitive film releases including early X-rated titles like Sin With a Stranger, reflecting changing content guidelines under the MPAA rating system.
1971–1980: Formation of CIC and the High-Concept Film Era
In 1970, Paramount joined forces with Universal Pictures to establish Cinema International Corporation (CIC), a company responsible for distributing films beyond the United States. By 1973, Metro-Goldwyn-Mayer became a partner in this venture. Paramount and CIC each ventured into the home video sector through Paramount Home Video (now called Paramount Home Entertainment) and CIC Video, respectively.
Robert Evans stepped down as production chief in 1974, with Richard Sylbert taking over, though his approach conflicted with Gulf and Western's management style. By 1976, a new leadership team headed by Barry Diller, which included future prominent figures such as Michael Eisner, Jeffrey Katzenberg, Dawn Steel, and Don Simpson, redirected Paramount’s strategy toward commercially driven "high concept" movies like Saturday Night Fever and Grease. Paramount’s earlier acquisition of the Star Trek franchise also strengthened its position in the science fiction genre.
Leveraging Diller’s television background, Paramount proposed launching a fourth commercial broadcast network named Paramount Television Service (PTVS). To support this plan, the studio purchased the Hughes Television Network in 1976 but divested it by 1979. Although Diller departed in 1984 to pursue the fourth-network idea at 20th Century Fox under Rupert Murdoch, Paramount eventually introduced its own network, UPN, in 1995. UPN operated for eleven years before merging with The WB to create The CW in 2006, showcasing numerous original programs and utilizing Star Trek spin-offs to sustain its market relevance.
Paramount Pictures’ record label was separate from earlier versions but adopted the Paramount name in the late 1960s to release soundtracks and pop reissues from the acquired Dot Records catalog. By 1970, Dot had shifted its focus to country music, and in 1974, Paramount sold its record division to ABC Records, which was subsequently acquired by MCA (now known as Universal Music Group) in 1979.
1980–1994: Sustained Success
Throughout the 1980s and early 1990s, Paramount maintained its momentum with box office successes including 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 franchise, as well as collaborations with Lucasfilm and Steven Spielberg on the Indiana Jones series. The studio also produced several Star Trek films alongside popular Eddie Murphy comedies such as Trading Places, Coming to America, and Beverly Hills Cop. In addition to commercial hits, Paramount released critically acclaimed works like Atlantic City and Witness. Leadership transitioned from Eisner and Katzenberg to executives including Frank Mancuso, Sr., Ned Tanen, Stanley R. Jaffe, and Sherry Lansing. Despite some remakes and television spin-offs during this period, few projects matched Paramount’s earlier dominance.
In 1981, Paramount briefly entered the video game industry by acquiring sibling Gulf and Western company Sega, but exited following the 1983 industry downturn; later partnerships resulted in live-action/CGI adaptations of the Sonic the Hedgehog franchise. A fire in 1983 damaged multiple sound stages and sets, disrupting studio operations.
After founder Charles Bluhdorn passed away, Martin Davis assumed leadership of Gulf and Western, refocusing its assets by divesting industrial divisions and renaming it Paramount Communications in 1989. Proceeds from these sales financed acquisitions of television stations and theme parks under the banner of Paramount Parks, which included California's Great America, Canada's Wonderland, Carowinds, Kings Dominion, and Kings Island.
In May 1985, Paramount launched a talent division aimed at securing exclusive contracts with performers but discontinued it by mid-1986 due to limited achievements. In 1987, a collaboration between Paramount, MGM/UA, and Universal Pictures targeted China’s vast audience through joint film marketing efforts. That same year saw consolidation of overseas distribution offices to reduce expenses and enhance efficiency. Additionally, Paramount Overseas Productions was created to facilitate international filming in locations such as Canada and the United Kingdom.
In 1993, Viacom, under the leadership of Sumner Redstone, purchased Paramount Communications for $10 billion after competing against Barry Diller’s QVC in a bidding war. This acquisition aligned with Viacom’s broader strategy of expanding its media portfolio.
Paramount remains unique among major Hollywood studios as it continues operating from its original Hollywood lot established in 1927. While other studios like RKO Pictures, Warner Bros., and Columbia Pictures relocated or ceased operations there, Paramount preserved its historic site. The studio has since undergone renovations that have reinforced its status as a landmark of Hollywood heritage and attract numerous visitors through popular studio tours.
1989–1994: Paramount Communications
Starting in 1983, Gulf and Western initiated a strategic transformation to concentrate on entertainment and publishing sectors, moving away from its previous diversified conglomerate model. This shift was intended to enhance investor confidence and boost market value. Although Paramount performed well, Gulf and Western as a whole struggled to meet investor expectations. Under CEO Martin S. Davis, the company divested several non-core businesses, including sugar plantations and consumer goods, by 1985. The firm was rebranded as Paramount Communications Inc. in 1989, highlighting its flagship asset, Paramount Pictures, and updated its stock ticker from GW to PCI.
Paramount Communications' holdings encompassed Paramount’s film, television, home video, and music publishing arms; Madison Square Garden properties including MSG Network; a 50% interest in USA Networks (in partnership with MCA/Universal); Simon & Schuster; Prentice Hall; Pocket Books; Allyn & Bacon; Cineamerica (a joint venture with Warner Communications); and the Canadian theater chain Famous Players Theatres.
In 1989, Paramount launched a hostile takeover bid valued at $12.2 billion for Time Inc., aiming to prevent Time's planned merger with Warner Communications. Time countered with a $14.9 billion offer, and after unsuccessful legal challenges from Paramount, the acquisition attempt was abandoned, clearing the path for the Time Warner merger.
Capitalizing on funds from divesting non-entertainment assets, Paramount purchased TVX Broadcast Group’s television stations and KECO Entertainment’s theme parks from Great American Broadcasting. TVX was rebranded as Paramount Stations Group, while KECO was renamed Paramount Parks.
In 1989, Paramount Television partnered with USA Networks (which later became NBCUniversal Cable) to establish Wilshire Court Productions for producing TV movies for USA Networks and other platforms. USA Networks also launched the Sci-Fi Channel (now Syfy) in 1992, focusing on science fiction content primarily owned by Paramount or Universal. In 1993, Paramount broadened its broadcast portfolio by acquiring WKBD-TV in Detroit from Cox Enterprises; at the time, WKBD-TV was affiliated with Fox.
1994–2005: Dolgen/Lansing and "old" Viacom era
In February 1994, Viacom secured a controlling 50.1% stake in Paramount Communications Inc. for $9.75 billion following a five-month contest with QVC, finalizing the merger by July. Paramount's assets included Paramount Pictures, Madison Square Garden along with the New York Rangers and New York Knicks sports teams, plus Simon & Schuster publishing. Although this consolidation had been under consideration since 1989 during Gulf and Western's tenure, leadership changed as Martin S. Davis stepped down from daily operations while remaining on National Amusements’ board.
During this prosperous era, Jonathan Dolgen served as chairman and Sherry Lansing as president of Paramount Pictures. The studio produced two of its top ten highest-grossing films at this time, notably Titanic (1997), co-produced alongside 20th Century Fox and Lightstorm Entertainment; it earned over $1.8 billion globally, setting a new box office record then. Additionally, three films released by Paramount received the Academy Award for Best Picture: Titanic, Braveheart, and Forrest Gump.
The Star Trek franchise was among the studio’s most valuable properties, generating substantial revenue through television series, feature films, books, videotapes, and licensing agreements. By 1998, productions related to Star Trek occupied up to nine out of the studio’s 36 sound stages. In 1995, Viacom partnered with Chris-Craft Industries to launch the United Paramount Network (UPN), featuring Star Trek: Voyager as its flagship program. Viacom gained full ownership in 1999 and subsequently integrated UPN into CBS after acquiring it in 2000. During this period, acquisitions such as Republic Pictures, Spelling Television, and Viacom Productions nearly doubled Paramount’s television library. The TV division produced popular series including Frasier, NCIS, Becker, and Entertainment Tonight. Through Viacom’s acquisition of Rysher Entertainment rights, Paramount further expanded its content catalog.
Operating under the name "Viacom Entertainment Group," the company managed North America’s fourth-largest theme park portfolio that included a successful "Star Trek" attraction based in Las Vegas. Famous Music broadened its artist roster with acts like Pink, Bush, and Green Day. The licensing segment developed themed establishments such as "Cheers" bars and The Bubba Gump Shrimp Company restaurants inspired by studio intellectual properties. More than ten Broadway musicals were adapted from Paramount’s content library during this time frame; notable productions included White Christmas, Footloose, and Andrew Lloyd Webber’s Sunset Boulevard. On an international scale, United International Pictures dominated distribution for approximately ten years representing Paramount alongside Universal and MGM. Simon & Schuster emerged as one of the leading trade book publishers in the U.S. within this group.
In 2002, Paramount collaborated with major studios including Walt Disney Studios, 20th Century Fox, Sony Pictures, MGM/UA Entertainment, Universal Studios, DreamWorks Pictures, Lions Gate Entertainment, and Warner Bros. to establish Digital Cinema Initiatives (DCI). Led by Paramount COO Tom McGrath, DCI developed technical standards designed to transition digital film projection away from traditional film formats. McGrath also led efforts to introduce Blu-ray Disc technology at Paramount.
2005–2019: The "New" Viacom Period
On December 11, 2005, Paramount Motion Pictures Group finalized the acquisition of DreamWorks Pictures SKG, a company co-founded by former Paramount executive Jeffrey Katzenberg, in a transaction valued at $1.6 billion. Brad Grey, serving as Paramount's chairman and CEO, described this move as a calculated effort to strengthen the studio’s film slate and reestablish its prominence in the motion picture industry. Although DreamWorks Animation was not included in this acquisition, Paramount distributed its films from 2006 through 2012. Distribution rights later transferred to 20th Century Fox and subsequently to Universal Pictures after NBCUniversal acquired the animation studio in 2016.
In 2005, amidst difficulties in the broadcasting sector, Viacom recorded over $18 billion in write-offs related to radio acquisitions and declared plans to split into two separate entities. The Viacom board replaced executives Dolgen and Lansing with Brad Grey and Gail Berman, respectively, and by the end of 2005 divided the company into CBS Corporation and a new Viacom company. CBS Corporation retained assets such as CBS and UPN networks, television stations, Showtime Networks, Simon & Schuster, and Paramount Television. Meanwhile, Viacom maintained ownership of cable channels including MTV, VH1, Nickelodeon, BET, along with the Paramount film studio. Both corporations continued under Sumner Redstone’s National Amusements control. Paramount’s home entertainment division began using the CBS DVD label for its television content library.
Brad Grey disbanded United International Pictures (UIP), resulting in Paramount and Universal managing international distribution independently across various territories by late 2006. Paramount created its own international distribution operation headquartered in Los Angeles with a central office serving Europe. In South Korea, following Universal’s exit from UIP Korea in 2016, Paramount collaborated with CJ Entertainment for regional distribution. Under Andrew Cripps’ leadership as head of Paramount Pictures International, the studio achieved $1 billion in overseas box office revenue by mid-2007.
In October 2008, DreamWorks executives departed from Paramount to reestablish an independent studio; DreamWorks Animation retained trademark rights but licensed them to the new company. Despite Universal handling international distribution for DreamWorks films, Paramount incorporated these titles into its market share calculations. Grey also introduced a Digital Entertainment division aimed at capitalizing on emerging digital distribution platforms, making Paramount the second major studio to offer films through Apple’s iTunes Store.
In 2007, Paramount divested Famous Music, its long-established music publishing division, selling it to Sony/ATV Music Publishing. The studio also partnered with technology firms including FanRocket and Makena Technologies to distribute short-form video content across social media networks such as Facebook and MTV’s virtual platforms.
By 2009, CBS Corporation rebranded its production unit as CBS Television Studios to distance itself from the Paramount brand. In March 2010, Paramount launched Insurge Pictures as a label dedicated to micro-budget films with intended production costs below $100,000; its inaugural release was The Devil Inside, which had an approximate budget of $1 million. Due to diminishing returns, Insurge was reintegrated into the main studio by March 2015.
After DreamWorks Animation’s contract concluded in 2012 and they exited the partnership, Paramount announced in July 2011 the creation of Paramount Animation, marking its first return to producing animated features internally since 1967.
In December 2013, Walt Disney Studios acquired distribution rights for upcoming Indiana Jones installments from Paramount while the latter retained ownership rights and financial interests in the first four films of the franchise.
In February 2016, Viacom CEO Philippe Dauman disclosed discussions about selling a minority stake in Paramount; however, Sumner Redstone’s family opposed this proposal. Later that year, negotiations with Wanda Group for acquiring a 49% stake were discontinued. In January 2017, Shanghai Film Group Corp. and Huahua Media entered an agreement to co-finance at least a quarter of Paramount’s film slate over three years and support marketing and distribution efforts within China—reflecting an industry-wide trend toward Hollywood-Chinese collaborations.
Jim Gianopulos was appointed chairman and CEO of Paramount Pictures on March 27, 2017, succeeding Brad Grey. In June 2017, Paramount launched Paramount Players, led by Brian Robbins (founder of AwesomenessTV), concentrating on films derived from Viacom Media Networks properties such as MTV and Nickelodeon. Additionally, starting September 2017, Paramount secured a film distribution agreement with 20th Century Fox for Italy; previously Universal had managed Italian distribution since the CIC era.
Between late 2017 and early 2018, Netflix acquired international rights to Annihilation along with global rights to The Cloverfield Paradox for $50 million. On November 16, 2018, Paramount signed a multi-picture production deal with Netflix—the first major Hollywood studio to do so—aligning with Viacom’s strategic growth initiatives.
By April 2018, Paramount reported its first quarterly profit since 2015. Viacom CEO Bob Bakish credited improved margins for this turnaround and pointed to the success of A Quiet Place, produced under new leadership, as evidence of positive business momentum.
2019–present: ViacomCBS/Paramount Global period
On September 29, 2016, National Amusements initiated a proposal to merge CBS Corporation with Viacom to capitalize on "significant synergies," but the plan was abandoned by December of that year. Merger discussions resumed by May 2019, with an informal deadline set for August 8 to complete the deal. CBS agreed to acquire Viacom for a sum reaching $15.4 billion, and on August 2, 2019, both companies announced their reunification under the name ViacomCBS, a process finalized on December 4, 2019.
In December 2019, ViacomCBS purchased a 49% ownership in Miramax from beIN Media Group, securing distribution rights for its extensive catalog of 700 films as well as future productions. Paramount took on the role of producing television adaptations based on Miramax intellectual properties. This transaction was completed in April 2020. Later that year, ViacomCBS rebranded its streaming platform CBS All Access to Paramount+ to facilitate global expansion and leverage its diverse content portfolio drawn from CBS, MTV, Nickelodeon, and Paramount.
Paramount Pictures underwent leadership changes in September 2021, appointing Nickelodeon president Brian Robbins to replace Jim Gianopulos as head of the studio. In January 2022, Paramount acquired film adaptation rights for Tomi Adeyemi’s young adult novel Children of Blood and Bone, with Adeyemi herself attached as screenwriter and executive producer.
The company formerly known as ViacomCBS adopted the name Paramount Global on February 16, 2022, signaling a consolidated corporate identity centered around the Paramount brand. In March 2022, Paramount Players was merged into the Paramount Pictures Motion Picture Group while maintaining its distinct label for forthcoming projects.
On November 15, 2022, Paramount appointed Walter Hamada, previously president of DC Films, to oversee its horror film division beginning in 2023.
By 2024, merger negotiations progressed toward a $28 billion deal between Paramount Global and Skydance Media. Talks extended into 2025 involving Skydance CEO David Ellison and Shari Redstone. Regulatory approval was secured in July 2025, positioning Ellison to assume the role of Paramount’s CEO.
DreamWorks Pictures
In 2006, Paramount assumed ownership of DreamWorks Pictures. Shortly thereafter, Soros Strategic Partners and Dune Entertainment II acquired controlling stakes in live-action films produced through DreamWorks starting with Just Like Heaven. Films released before March 2006 remained under Paramount’s control; the company retained distribution and ancillary rights for Soros and Dune-produced titles.
On February 8, 2010, Viacom reacquired Soros' controlling interest in DreamWorks’ pre-2005 film catalog for approximately $400 million. Although DreamWorks later shifted live-action distribution first to Walt Disney Studios Motion Pictures and then to Universal Pictures, Paramount continued to own films released prior to the merger and those it distributed directly—including sequel rights such as those for Little Fockers (2010). Paramount managed international distribution for Little Fockers, with Universal overseeing domestic release.
Paramount also held distribution rights to the DreamWorks Animation (DWA) film library produced before 2013. This agreement expired at the close of 2012 with Rise of the Guardians. Following this period, 20th Century Fox took over distribution for titles released between The Croods (2013) and Captain Underpants: The First Epic Movie (2017). After NBCUniversal acquired DreamWorks Animation in 2016, Universal Pictures began distributing films starting with How to Train Your Dragon: The Hidden World (2019). While Paramount’s rights to the DWA catalog from 1998–2012 were set to expire sixteen years after each film’s release date, in July 2014 DreamWorks Animation purchased these pre-2013 distribution rights from Paramount. Fox handled distribution until January 2018 when Universal took over.
Paramount also retains ownership of the pre-2008 DreamWorks Television library. This collection is distributed by its affiliate CBS Media Ventures, including series such as Spin City, Freaks and Geeks, and Undeclared.
CBS Film Library
The theatrical distribution of films created by CBS's motion picture branches is independently managed by Hollywood Classics under Paramount, a result of the 2000 Viacom/CBS merger.
Paramount holds the main video distribution rights for the CBS film collection. Titles with lower demand are frequently made available through CBS's on-demand services or licensed to Visual Entertainment Inc. After the 2019 Viacom/CBS merger, Paramount Animation took over theatrical distribution of the Terrytoons shorts, while television distribution remains under the purview of CBS Media Ventures. Additionally, video rights for My Fair Lady have reverted from Warner Bros. back to Paramount.
Operational Divisions
- Paramount Pictures
- Paramount Home Entertainment
- Paramount DVD
- Paramount High Definition (HD DVD and Blu-Ray)
- Paramount Licensing, Inc.
- Paramount Pictures International
- Paramount Players
- Nickelodeon Movies
- Paramount Studio Group – encompassing studio and post-production services
- The Studios at Paramount – production facilities and studio lot
- Paramount on Location – production support across North America, including New York City, Vancouver, and Atlanta
- Worldwide Technical Operations – responsible for archives, restoration, mastering, distribution fulfillment, and on-lot post-production management
- Paramount Parks & Resorts – licensing and design operations for theme parks and resorts
- Paramount Home Entertainment
- Paramount Animation
- Paramount Music
Collaborative Ventures
- United International Pictures (jointly owned with Comcast’s Universal Pictures)
Previous Divisions, Subsidiaries, and Partnerships
- Paramount Digital Entertainment (currently inactive)
- Paramount Television (original) (now operating as CBS Studios), including semi-active units such as Big Ticket Entertainment and Spelling Television
- Viacom Productions (merged into PNT in 2004)
- Wilshire Court Productions (ceased operations in 2003)
- Paramount Domestic Television (rebranded as CBS Media Ventures), which absorbed Viacom Enterprises in 1995, along with Rysher Entertainment and Worldvision Enterprises in 1999
- United Paramount Network (UPN) – merged into The CW Television Network joint venture
- Paramount Stations Group (currently CBS News and Stations)
- Stake in USA Network sold to Universal (NBCUniversal) in 1997
- Paramount International Television combined with CBS Broadcast International in 2004 to establish CBS Studios International
- Paramount Television Studios (2013–2024), operations consolidated into CBS Studios; licensing integrated into ViacomCBS Global Distribution Group by 2020
- Fleischer Studios/Famous Studios library now part of Paramount Animation
- Terrytoons library acquired in 1956; theatrical rights transferred to Paramount Animation following the 2019 ViacomCBS re-merger
- Paramount Famous Productions (direct-to-video arm from 2007 to 2011)
- Sale of Paramount Parks to Cedar Fair Entertainment Company in 2006
- Merger of Paramount Classics and Paramount Vantage; dormant since 2013
- Holdings related to DreamWorks Pictures managed via DW Studios, LLC; involved partial sales and repurchases including Soros Strategic Partners and Dune Entertainment II
- Go Fish Pictures (focused on arthouse/independent foreign films), defunct since 2007
- Establishment of Paramount Theatres Limited in the UK in 1930; later sold to The Rank Organisation/Odeon Cinemas chain in 1939
- Stake in Epix (now MGM+) held until its sale to MGM in 2017 by Paramount/Viacom and Lionsgate
- Insurge Pictures micro-budget division absorbed by Paramount by 2015
- Ownership of Republic Pictures catalog
- Replacement of "Continental Café" commissary with Zukor Building in 1983
- Rede Telecine co-owned alongside Amazon's MGM, Disney Latin America, Grupo Globo's Canais Globo, and Comcast's Universal Pictures
Additional Ventures
In March 2012, Paramount extended its brand by licensing its name and emblem to a luxury hotel investment consortium, resulting in the creation of Paramount Hotels and Resorts. The initiative aims to establish 50 hotels globally, all inspired by Hollywood glamour and the California lifestyle, featuring amenities such as private screening theaters and guest room access to the Paramount film archive. By April 2013, Paramount Hotels had joined forces with Dubai-based DAMAC Properties to develop their inaugural resort, titled "DAMAC Towers by Paramount."
Logo
The iconic Paramount mountain emblem holds the distinction of being the longest-standing Hollywood film logo still in use and remains a cornerstone of the company's brand image. Originally adorned with 24 stars symbolizing contracted talent, the logo has undergone numerous redesigns that mirror advancements in technology and shifts in corporate ownership.
Significant milestones include:
- 1951: Jan Domela reimagined the logo as a matte painting.
- 1953–54: Adapted for 3D and VistaVision productions, incorporating textual elements.
- 1968–74: Alterations to text reflecting Gulf+Western's acquisition and updated typography.
- Mid-1970s: A streamlined blue version became prevalent in print media and television.
- 1986: Dario Campanile crafted a new CGI logo featuring animated stars forming an arc; this was refreshed in 1999 to improve visual fidelity.
- 2002: BUF Compagnie introduced a modernized logo with shooting stars outlining the arc; an enhanced iteration appeared with Iron Man 2 (2010), drawing inspiration from Mount Everest’s south col region.
- 2011: Celebrating its 100th anniversary, Paramount revealed an animated logo produced by Devastudios utilizing Terragen and Autodesk Maya, showcasing a surrounding mountain range under sunlit skies. Composer Michael Giacchino composed a new fanfare deployed across all Paramount divisions including Paramount Players and Television Studios.
- 2022: Following ViacomCBS’s transition to Paramount, printed branding reinstated the word "Pictures," while on-screen logos now simply present "Paramount" without additional taglines.
These progressive logo updates exemplify Paramount’s commitment to sustaining brand relevance across international markets and diverse media formats.
Studio Tours
Paramount Studios provides visitors with a two-hour Studio Tour that highlights sound stages where legendary films such as Samson and Delilah, Sunset Blvd., and Breakfast at Tiffany's were produced—many of which remain operational today. The backlot includes facades replicating New York City landmarks like "Washington Square" and the "Financial District." Furthermore, the After Dark Tour offers guests access to the Hollywood Forever Cemetery.
Film Archive
In response to the 1948 Supreme Court decision in United States v. Paramount Pictures, Inc., MCA proposed acquiring 750 pre-1949 sound films from Paramount for $50 million, payable over several years. Paramount, underestimating the value of its older titles, consented. MCA established EMKA, Ltd. to handle television distribution of these films, which now form part of Universal Television's extensive catalog. This library encompasses significant works such as Marx Brothers comedies alongside classics like Trouble in Paradise, Double Indemnity, and The Lost Weekend.
Paramount’s film collection features critically acclaimed productions including Titanic, Braveheart, The Truman Show, Psycho, Forrest Gump, as well as major franchises like The Godfather, Star Trek, and Mission: Impossible. This vast repertoire highlights Paramount’s influential position and strategic foresight within the entertainment industry.
Film Series
| Title | Release Period | Number of Films | Remarks |
|---|---|---|---|
| Sophie Lang | 1934–1937 | 3 | |
| Hopalong Cassidy | 1935–1941 | 41 | |
| Bulldog Drummond | 1937–1939 | 3 | |
| The Aldrich Family | 1939–1944 | 11 | |
| Road to ... | 1940–1952 | 6 | |
| The War of the Worlds | 1953–2005 | 2 | |
| Love Story | 1970–1978 | ||
| The Godfather | 1972–1990 | 3 | |
| Charlotte's Web | 1973–2003; 2006 | ||
| Bad News Bears | 1976–2005 | 4 | |
| Peanuts | 1977–1980 | 2 | |
| Grease | 1978–1982 | 2 | |
| Star Trek | 1979–present | 13 | |
| Friday the 13th | 1980–1989; 2009 | 12 | Joint production with Warner Bros. Pictures and New Line Cinema |
| Indiana Jones | 1981–2023 | 5 | Distribution only; produced in collaboration with Lucasfilm. Studio credit exclusively for (2023) |
| Beverly Hills Cop | 1984–1994 | 3 | |
| Footloose | 1984–2011 | 2 | |
| Crocodile Dundee | 1986–2001 | 3 | Co-produced alongside Hoyts Distribution, 20th Century Studios, and Universal Pictures |
| Top Gun | 1986–present | 2 | |
| The Naked Gun | 1988–present | 4 | |
| Coming to America | 1988–2021 | 2 | |
| Jack Ryan | 1990–present | 5 | |
| 'Mission: Impossible' | '1996–2025' | '8' | |
| 'Rugrats' | '1998–2003' | '3' | 'Co-produced with Nickelodeon Movies and Klasky Csupo' |
| 'Lara Croft: Tomb Raider' | '2001–2003' | '2' | |
| 'Jackass' | '2002–present' | '6' | |
| 'SpongeBob SquarePants' | '2004–present' | '4' | 'Co-produced with Nickelodeon Movies and United Plankton Pictures Inc.' |
| 'Mean Girls' | '2004–2024' | '3' | |
| 'Shrek' | '2007–2011' | 'Distribution only; Co-produced with DreamWorks Animation' | |
| 'Transformers' | '2007–present' | '7' | 'Co-produced alongside DreamWorks Pictures and Hasbro' |
| 'Paranormal Activity' | '2007–present' | '7' | |
| 'Cloverfield' | '2008–present' | '3' | |
| 'Kung Fu Panda' | '2008–2011' | '2' | 'Distribution only; collaboration with DreamWorks Animation' |
| 'Madagascar' | '2008–2012' | '2' | 'Distribution only; co-produced with DreamWorks Animation' |
| 'Marvel Cinematic Universe' | '2008–2013' | '6' | 'Distribution only; co-produced with Marvel Entertainment and Marvel Studios; studio credit in later years.' |
| 'Watchmen' | '2009–2024' | '3' | 'International distributor; co-production with Warner Bros. Pictures and DC Studios.' |
| 'G.I. Joe' | '2009–present' | '3' | |
| 'Teenage Mutant Ninja Turtles' | '2014–present' | '3' | 'Co-produced with Nickelodeon Movies.' |
| 'Terminator' | '2015–2019' | '2' | 'Collaborated with Skydance, 20th Century Fox, and Tencent Pictures.' |
| 'A Quiet Place ' | '2018–present ' | '3 ' | 'Produced jointly with Platinum Dunes and Sunday Night Productions.' |
| 'Dora the Explorer ' | '2019–present ' | '2 ' | 'Co-production involving Nickelodeon Movies, Walden Media, and Media Rights Group.' |
| "Sonic the Hedgehog" | "2020–present" | "3" | "Co-production with Sega Sammy Group, Original Film, Marza Animation Planet, and Blur Studio." |
| "PAW Patrol" | "2021–present" | "3" | "Co-produced alongside Nickelodeon Movies and Spin Master Entertainment." |
| "Scream" | "2022–present" | "3" | "Collaboration with Spyglass Media Group." |
| "Smile" | "2022–present" | "2" | "Joint production with Temple Hill Entertainment." |
Top-grossing films
|
|
— Reflects theatrical re-releases
Latino and Hispanic representation
On July 31, 2018, Paramount was publicly criticized by the National Hispanic Media Coalition and National Latino Media Council for its notably poor record in employing Latino and Hispanic individuals both in front of and behind the camera. The most recent Paramount project directed by a Spanish filmmaker was Rings (2017). In response to these concerns, Paramount emphasized initiatives under its current leadership aimed at enhancing diversity. The studio pointed to forthcoming titles such as Dora and the Lost City of Gold, Instant Family, Bumblebee, and Limited Partners as evidence of expanding Latino presence. Paramount also expressed a commitment to deepen collaborations with Latino creatives.
On August 25, NHMC led a demonstration at Paramount's studio lot with over sixty participants demanding greater inclusivity. NHMC president Alex Nogales pledged to maintain the boycott until a formal agreement was established. A subsequent protest took place on October 17 involving seventy-five individuals who presented a petition bearing 12,307 signatures addressed to then-CEO Jim Gianopulos.
These incidents highlight persistent challenges while illustrating Paramount’s strategic emphasis on diversity as an integral component of its overall business objectives and its role within an increasingly multicultural entertainment landscape.
See also
Notes
- While the film earned $2,264,812,968 worldwide, approximately $1,590,450,697 of this total pertains to 20th Century Fox, which managed international distribution; Paramount retains distribution rights solely within North America.
- In July 2014, distribution rights were acquired by DreamWorks Animation from Paramount and subsequently transferred to 20th Century Fox. In January 2018, these rights were moved to Universal Pictures.
- Distribution rights were reassigned from Paramount to The Walt Disney Studios in July 2013.
Additional resources
- Berg, A. Scott. Goldwyn. Alfred A. Knopf, New York, 1989.
- DeMille, Cecil B. Autobiography. Prentice-Hall, Englewood Cliffs, NJ, 1959.
- Dick, Bernard F. Engulfed: the death of Paramount Pictures and the birth of corporate Hollywood. University Press of Kentucky, Lexington, KY, 2001.
- Eames, John Douglas, with Robert Abele. The Paramount Story: The Complete History of the Studio and Its Films. Simon & Schuster, New York, 2002.
- Evans, Robert. The Kid Stays in the Picture. Hyperion Press, New York, 1994.
- Gabler, Neal. An Empire of Their Own: How the Jews Invented Hollywood. Crown Publishers, New York, 1988.
- Lasky, Jesse L., with Don Weldon. I Blow My Own Horn. Doubleday, Garden City, NY, 1957.
- Mordden, Ethan. The Hollywood Studios. Alfred A. Knopf, New York, 1988.
- Schatz, Thomas. The Genius of the System. Pantheon, New York, 1988.
- Sklar, Robert. Movie-Made America. Vintage, New York, 1989.
- Zukor, Adolph with Dale Kramer. The Public Is Never Wrong: The Autobiography of Adolph Zukor. G.P. Putnam's Sons, New York, 1953.
External links
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