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'{{Short description|American mass media corporation}} {{Distinguish|text=the film division [[Paramount Pictures]] or its former parent company [[Paramount Communications]]}} {{Redirect|ViacomCBS|the article on the merger|2019 merger of CBS and Viacom}} {{Use American English|date=July 2017}} {{Use mdy dates|date=August 2022}} {{Infobox company | name = Paramount Global | logo = [[File:Paramount Global.svg|frameless|class=skin-invert]] | logo_caption = Logo used since 2022 | image = Times Sq Nov 2021 112.jpg | image_caption = Paramount headquarters at [[One Astor Plaza]] in [[Midtown Manhattan]], New York City | former_name = ViacomCBS Inc. (2019–2022) | trade_name = Paramount | type = [[Public company|Public]] | traded_as = {{Unbulleted list|class=nowrap | {{Nasdaq|PARAA}} (Class A) | {{Nasdaq|PARA}} (Class B) | [[S&P 500]] component (PARA) }} | ISIN = {{ISIN|sl=n|pl=y|US92556H2067}} | industry = {{ubl|[[Media conglomerate|Media]]|[[Entertainment]]}} | predecessors = {{ubl|[[CBS Corporation]]|[[Viacom (2005–2019)|Viacom]]}} | founded = {{Start date and age|2019|12|04}} | defunct = | fate = | successor = | hq_location = [[One Astor Plaza]]<br>[[New York City|New York]], [[New York (state)|NY]] 10036<br>U.S. | area_served = Worldwide | key_people = {{Unbulleted list|class=nowrap | [[Shari Redstone]] <br />([[Chairperson|chairwoman]]) | [[Chris McCarthy (executive)|Chris McCarthy]] <br />([[CEO|interim principal executive officer]]) }} | products = {{Flatlist| * Films * Music * Television programs * [[Web portal]]s }} | services = {{Flatlist| * [[Licensing]] * Broadcasting * [[Streaming media|Streaming]] * Television }} | revenue = {{Decrease}} US$29.65&nbsp;billion (2023) | operating_income = {{Decrease}} US$&minus;451&nbsp;million (2023) | net_income = {{Decrease}} US$&minus;608&nbsp;million (2023) | assets = {{Decrease}} US$53.54&nbsp;billion (2023) | equity = {{Decrease}} US$22.53&nbsp;billion (2023) | num_employees = {{nowrap|21,900 (December 2023)}} | owner = [[National Amusements]] (9.7% equity, 79.9% voting power)<ref>{{cite web |url=https://ir.paramount.com/node/51036/html |title=2021 Proxy Statement |last= |first= |date= |website= |publisher=ViacomCBS, Inc. |access-date=February 17, 2022 |quote= |archive-date=March 26, 2022 |archive-url=https://web.archive.org/web/20220326122748/https://ir.paramount.com/node/51036/html |url-status=live }}</ref><br>(Merger with [[Skydance Media]] pending) | divisions = {{Plainlist| * [[Paramount Pictures]] * [[CBS Entertainment Group]] * [[Paramount Media Networks]] * [[Paramount International Networks]] * [[Paramount Streaming]] * [[Paramount Consumer Products]] }} | subsid = [[List of assets owned by Paramount Global]] | website = {{URL|paramount.com}} | footnotes = <ref>{{cite web |title=SEC Filing – ViacomCBS Inc. |url=https://ir.viacomcbs.com/node/46046/html |publisher=ViacomCBS |access-date=July 14, 2020 |archive-date=July 18, 2020 |archive-url=https://web.archive.org/web/20200718165104/https://ir.viacomcbs.com/node/46046/html |url-status=live }}</ref><ref name=10K>{{cite web |title=Paramount Global Annual Report (Form 10-K) |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/813828/000081382824000007/para-20231231.htm |website=SEC.gov |publisher=[[U.S. Securities and Exchange Commission]] |date=February 28, 2024 |access-date=February 28, 2024 }}</ref> }} '''Paramount Global''' (also known simply as '''Paramount''') is an American multinational [[mass media]] and [[Entertainment industry|entertainment]] [[Conglomerate (company)|conglomerate]] controlled by [[National Amusements]] and [[headquartered]] at [[One Astor Plaza]] in [[Times Square]], [[Midtown Manhattan]]. The company was formed on December 4, 2019, as '''ViacomCBS''' through the [[2019 merger of CBS and Viacom|merger]] of the second incarnations of [[CBS Corporation]] and [[Viacom (2005–2019)|Viacom]]<ref>{{Cite web|url = https://www.thewrap.com/cbs-viacom-merger-close-date-dec-4/|title = CBS and Viacom Reveal December Merger Date|date = November 25, 2019|access-date = November 26, 2019|archive-date = November 29, 2019|archive-url = https://web.archive.org/web/20191129045701/https://www.thewrap.com/cbs-viacom-merger-close-date-dec-4/|url-status = live}}</ref> (which were split from the [[Viacom (1952–2005)|original Viacom]] on December 31, 2005). The company took its current name on February 16, 2022.<ref>{{Cite web|last=Baccardax|first=Martin|title=ViacomCBS Stock Plunges After Q4 Earnings Miss, Paramount Name Change|url=https://www.thestreet.com/markets/viacomcbs-stock-slides-on-q4-earnings-miss-paramount-name-change|access-date=February 16, 2022|website=TheStreet|date=February 16, 2022 |archive-date=February 17, 2022|archive-url=https://web.archive.org/web/20220217100707/https://www.thestreet.com/markets/viacomcbs-stock-slides-on-q4-earnings-miss-paramount-name-change|url-status=live}}</ref> Paramount's main properties include the namesake [[Paramount Pictures]] film and [[Paramount Television Studios|television]] studio, the [[CBS Entertainment Group]] (consisting of the [[CBS]] and partially owned [[The CW]] television networks and [[CBS News and Stations|television stations]], [[BET Networks|BET Media Group]] (which oversees the [[BET]] and [[VH1]] channels, among others), and other CBS-branded assets), [[Paramount Media Networks]] (consisting of U.S.-based cable television networks including [[MTV]], [[Nickelodeon]], [[Comedy Central]], [[CMT (American TV channel)|CMT]], [[Paramount Network]], and [[Showtime (TV network)|Showtime]]) and [[Paramount Streaming]] (including [[Paramount+]] and [[Pluto TV]]). It also has an [[Paramount International Networks|international division]] that manages international versions of its pay TV networks, as well as region-specific assets including Argentina's [[Telefe]], Chile's [[Chilevisión]], the United Kingdom's [[Channel 5 (British TV channel)|Channel 5]], and Australia's [[Network 10]]. From 2011 to 2023, the division also owned a 30% stake in the Italian [[Rainbow S.p.A.]] studio.<ref>{{cite web|url=https://www.hollywoodreporter.com/movies/movie-news/local-language-adaptations-remakes-another-round-1234954815/|title=Why Local-Language Adaptations Are the Next Round of Remakes|last1=Roxborough|first1=Scott|last2=Brzeski|first2=Patrick|date=May 24, 2021|work=[[The Hollywood Reporter]]|quote=ViacomCBS counts Argentina's Telefe and producer Iginio Straffi's Italian TV shingle [[Rainbow S.p.A.|Rainbow]], in which it has a 30 percent stake, among its global assets.}}</ref> {{As of|2019|post=,}} the company operates over 170 networks and reaches approximately 700 million subscribers in 180 countries.<ref>{{Cite web|title=ViacomCBS {{!}} Company Profile|url=https://www.vault.com/company-profiles/media-entertainment/viacom-inc|access-date=March 30, 2021|website=Vault|archive-date=April 16, 2021|archive-url=https://web.archive.org/web/20210416022450/https://www.vault.com/company-profiles/media-entertainment/viacom-inc|url-status=live}}</ref> In 2024, National Amusements held talks for a potential merger or acquisition of Paramount Global, with [[Warner Bros. Discovery]], [[Sony Pictures]], [[Apollo Global Management]], and [[Skydance Media]] all considering acquiring the company. By June 3, Paramount reportedly agreed to merger terms with the latter company. However, by June 11, merger talks between Paramount and Skydance had fallen apart, resulting in the proposed merger being called off. The companies would later re-negotiate the deal, and on July 2, 2024, Skydance reached [[Proposed merger of Skydance Media and Paramount Global|a preliminary agreement]] to acquire National Amusements and merge with Paramount to create what is currently being called "New Paramount".<ref name=":0">{{Cite news |last=Mullin |first=Benjamin |last2=Hirsch |first2=Lauren |date=2024-07-02 |title=Paramount and Skydance Are Said to Reach a Deal to Merge |url=https://www.nytimes.com/2024/07/02/business/media/paramount-skydance-merger-talks.html |access-date=2024-07-03 |work=The New York Times |language=en-US |issn=0362-4331}}</ref><ref>{{Cite web |last=Media |first=Skydance |date=2024-07-08 |title=Skydance Media and Paramount Global Sign Definitive Agreement to Advance Paramount as a World-Class Media and Technology Enterprise |url=https://www.globenewswire.com/news-release/2024/07/08/2909354/0/en/Skydance-Media-and-Paramount-Global-Sign-Definitive-Agreement-to-Advance-Paramount-as-a-World-Class-Media-and-Technology-Enterprise.html |access-date=2024-07-08 |website=GlobeNewswire News Room |language=en}}</ref> The transaction is expected to close in the first half of 2025. ==Background== {{main|Paramount Communications|Viacom (1952–2005)|Viacom (2005–2019)|CBS Corporation|Westinghouse Electric Corporation|Gulf and Western Industries}} [[Paramount Pictures]], [[CBS]], and [[Viacom (1952–2006)|Viacom]] each had a history of being associated with one another through a series of various corporate mergers and splits.<ref name="newsweek">{{Cite news|url=https://www.newsweek.com/did-paramount-buy-viacom-cbs-name-change-1679706|title=Did Paramount Buy ViacomCBS? The Reason Behind the Company's Name Change|date=February 16, 2022|work=Newsweek|first=Samuel|last=Spencer|access-date=February 19, 2022|archive-date=June 27, 2022|archive-url=https://web.archive.org/web/20220627013803/https://www.newsweek.com/did-paramount-buy-viacom-cbs-name-change-1679706|url-status=live}}</ref> Paramount Pictures was founded in 1912 as the [[Famous Players Film Company]].<ref>{{Cite book|last=Abel|first=Richard|title=The Ciné Goes to Town: French Cinema, 1896–1914|publisher=University of California Press|date=1994|page=10|isbn=0-520-07936-1}}</ref> CBS was founded in 1927, which Paramount Pictures held a 49 percent ownership stake in from 1929 to 1932.<ref>{{cite book|title=Look Now, Pay Later: The Rise of Network Broadcasting|url=https://archive.org/details/looknowpaylaterr00berg|url-access=registration|author=[[Laurence Bergreen]]|year=1980|publisher=Doubleday and Co.|location=New York City|page=[https://archive.org/details/looknowpaylaterr00berg/page/61 61]|isbn=978-0-451-61966-2}}</ref><ref>{{cite book|title=A Tower in Babel: A History of Broadcasting in the United States to 1933|author=Erik Barnouw|publisher=Oxford University Press|location=New York City|year=1966|isbn=978-0-19-500474-8|page=261}}</ref> In 1952, CBS formed CBS Television Film Sales, a division which handled syndication rights for CBS's library of network-owned television series. This division was renamed CBS Films in 1958, again renamed CBS Enterprises in January 1968, and finally renamed [[Viacom (1952–2006)|Viacom]] (an acronym of Video and Audio Communications) in 1970. In 1971, this syndication division was [[Corporate spin-off|spun off]] amid new [[Federal Communications Commission|FCC]] rules forbidding television networks from [[Financial Interest and Syndication Rules|owning syndication companies]] (these rules were eventually abolished completely in 1993).<ref>{{cite book|title=The Business of Media: Corporate Media and the Public Interest|author=D. Croteau|author2=W. Hoynes|publisher=Pine Forge Press|location=Thousand Oaks, California|pages=100–101|year=2006}}</ref> In 1986, Viacom purchased [[ViacomCBS Domestic Media Networks|MTV Networks]] and [[Showtime Networks|Showtime/The Movie Channel Inc.]] from [[WarnerMedia|Warner Communications]] and [[American Express]].<ref>{{Cite news|last=Fabrikant|first=Geraldine|date=September 17, 1986|title=Viacom Chief Leads Group's Buyout Bid|work=The New York Times|url=https://www.nytimes.com/1986/09/17/business/viacom-chief-leads-group-s-buyout-bid.html|access-date=January 23, 2021|issn=0362-4331|quote=In November 1985, Viacom acquired MTV for $326 million in cash and warrants. One-third of MTV was publicly owned; the rest was owned by Warner Communications and the American Express Company. At the same time, Viacom bought 50 percent of Showtime, the pay television service, that it did not already own for $184 million.|archive-date=January 30, 2021|archive-url=https://web.archive.org/web/20210130051807/https://www.nytimes.com/1986/09/17/business/viacom-chief-leads-group-s-buyout-bid.html|url-status=live}}</ref> In 1987, Viacom was acquired by theater operator company [[National Amusements]].<ref>{{Cite news |date=1987-06-10 |title=Viacom Inc. has acquired Viacom International Inc. |work=[[Los Angeles Times]] |url=https://www.latimes.com/archives/la-xpm-1987-06-10-fi-3671-story.html |access-date=2023-06-15 |archive-date=June 15, 2023 |archive-url=https://web.archive.org/web/20230615231922/https://www.latimes.com/archives/la-xpm-1987-06-10-fi-3671-story.html |url-status=live }}</ref> Meanwhile, Paramount Pictures was acquired by [[Gulf and Western Industries]] in 1966, which then re-branded itself as [[Paramount Communications]] in 1989.<ref>{{cite news|last=Williams|first=Linda|url=https://www.latimes.com/archives/la-xpm-1989-04-10-fi-1718-story.html|title=Gulf & Western Wants Buyer for Finance Division: Paramount's Parent Plans to Change Name, Focus on Entertainment, Publishing|date=April 10, 1989|newspaper=Los Angeles Times|archive-date=June 26, 2013|archive-url=https://web.archive.org/web/20130626205936/http://articles.latimes.com/1989-04-10/business/fi-1718_1_paramount-s-parent-plans-values-publishing-businesses|url-status=live}}</ref> Viacom then purchased Paramount Communications in 1994. In 1999, Viacom made its biggest acquisition to date by announcing plans to merge with its former parent CBS Corporation (the renamed [[Westinghouse Electric Corporation]], which had merged with CBS in 1995). The merger was completed in 2000, resulting in CBS reuniting with its former syndication division. On December 31, 2005, Viacom was split into two companies: [[CBS Corporation]], the former's corporate successor, and the [[Viacom (2005–2019)|spun-off Viacom]] company.<ref>{{Cite web|title=CBS And Viacom Complete Merger|url=https://www.cbsnews.com/news/cbs-and-viacom-complete-merger/|access-date=March 30, 2021|website=CBS News|date=April 26, 2000 |archive-date=October 20, 2020|archive-url=https://web.archive.org/web/20201020160247/https://www.cbsnews.com/news/cbs-and-viacom-complete-merger/|url-status=live}}</ref> ==History== {{Further|2019 merger of CBS and Viacom}} {{Paramount evolution}} ===Formation=== On September 29, 2016, [[National Amusements]], the parent company of CBS Corporation and Viacom, wrote to Viacom and CBS Corporation encouraging the two companies to merge back into one company.<ref>{{cite web|url=https://www.hollywoodreporter.com/news/national-amusements-calls-viacom-cbs-933705|title=National Amusements Proposes Viacom, CBS Reunion, Cites "Substantial Synergies"|last=Szalai|first=George|date=September 29, 2016|work=The Hollywood Reporter|access-date=October 13, 2016|archive-date=December 15, 2016|archive-url=https://web.archive.org/web/20161215111701/http://www.hollywoodreporter.com/news/national-amusements-calls-viacom-cbs-933705|url-status=live}}</ref> On December 12, the deal was called off.<ref>{{cite web|url=https://www.cnbc.com/amp/2016/12/12/shari-redstone-withdraws-cbs-viacom-merger-proposal.html|title=Shari Redstone withdraws CBS-Viacom merger proposal|date=December 12, 2016|publisher=CNBC|access-date=December 17, 2016|archive-date=October 1, 2017|archive-url=https://web.archive.org/web/20171001074904/https://www.cnbc.com/amp/2016/12/12/shari-redstone-withdraws-cbs-viacom-merger-proposal.html|url-status=live}}</ref> On January 12, 2018, [[CNBC]] reported that Viacom had re-entered talks to merge back into CBS Corporation, after the merger of [[AT&T]] and [[WarnerMedia|Time Warner]] and [[The Walt Disney Company|Disney]]'s [[Acquisition of 21st Century Fox by Disney|proposed acquisition]] of most of [[21st Century Fox]]'s assets were announced. Viacom and CBS Corporation also faced heavy competition from companies such as [[Netflix]] and [[Amazon (company)|Amazon]].<ref>{{Cite web|url=https://www.cnbc.com/2018/01/12/viacom-shares-jump-9-percent-percent-on-wrap-report-that-its-looking-to-merge-with-cbs.html|title=Viacom, CBS shares surge after report Shari Redstone pursuing merge of companies|last=Wang|first=Christine|date=January 12, 2018|publisher=CNBC|access-date=January 12, 2018|archive-date=January 13, 2018|archive-url=https://web.archive.org/web/20180113093053/https://www.cnbc.com/2018/01/12/viacom-shares-jump-9-percent-percent-on-wrap-report-that-its-looking-to-merge-with-cbs.html|url-status=live}}</ref> Shortly afterward, it was reported that the combined company could be a suitor for acquiring the film studio [[Lionsgate Films|Lionsgate]].<ref>{{cite web|url=https://deadline.com/2018/01/lionsgate-talks-amazon-verizon-cbs-viacom-1202244991/|title=Lionsgate Ripe For Takeover As Amazon, Verizon and CBS-Viacom Emerge As Potential Suitors|last1=Busch|first1=Anita|last2=Chmielewski|first2=Anita|date=January 17, 2019|work=Deadline Hollywood|access-date=January 19, 2018|archive-date=August 13, 2019|archive-url=https://web.archive.org/web/20190813135101/https://deadline.com/2018/01/lionsgate-talks-amazon-verizon-cbs-viacom-1202244991/|url-status=live}}</ref> Viacom and Lionsgate were both interested in acquiring [[The Weinstein Company]] (TWC).<ref name="thewrap.com">{{cite web|url=https://www.thewrap.com/weinstein-co-talking-22-buyers-300-million-expected-price-bob-weinstein-must-exit|title=Weinstein Co Talking to 22 Buyers, $300 Million Expected Price, Bob Weinstein Must Exit|date=October 26, 2017|work=The Wrap|access-date=October 26, 2017|archive-date=November 23, 2017|archive-url=https://web.archive.org/web/20171123222136/https://www.thewrap.com/weinstein-co-talking-22-buyers-300-million-expected-price-bob-weinstein-must-exit/|url-status=live}}</ref> Following the [[Weinstein effect]], Viacom was listed as one of 22 potential buyers that were interested in acquiring TWC.<ref name="thewrap.com" /> They lost the bid, and on March 1, 2018, it was announced that [[Maria Contreras-Sweet]] would acquire all of TWC's assets for $500&nbsp;million.<ref name="latimes20180301">{{cite web|url=https://www.latimes.com/business/hollywood/la-fi-ct-weinstein-company-sale-20180301-story.html|title=Former Obama administration official has reached a deal to buy Weinstein Co. assets|author=Ryan Faughnder|date=March 1, 2018|work=[[Los Angeles Times]]|access-date=March 2, 2018|archive-date=March 2, 2018|archive-url=https://web.archive.org/web/20180302140113/http://www.latimes.com/business/hollywood/la-fi-ct-weinstein-company-sale-20180301-story.html|url-status=live}}</ref><ref name="deadline1202307564">{{cite web|url=https://deadline.com/2018/03/weinstein-company-deal-board-of-directors-maria-contreras-sweet-harvey-weinstein-1202307564/|title=TWC Board, New York AG Confirm Maria Contreras-Sweet Group Has Acquired Weinstein Company Assets|last=Chmielewski|first=Dawn|date=March 2, 2018|work=Deadline Hollywood|access-date=March 2, 2018|archive-date=March 2, 2018|archive-url=https://web.archive.org/web/20180302163930/http://deadline.com/2018/03/weinstein-company-deal-board-of-directors-maria-contreras-sweet-harvey-weinstein-1202307564/|url-status=live}}</ref> Lantern Capital would later acquire the studio. On March 30, 2018, CBS Corporation made an all-stock offer slightly below Viacom's market value, insisting that its existing leadership, including long-time chairman and CEO [[Les Moonves]], oversee the re-combined company. Viacom rejected the offer as too low, requesting a $2.8&nbsp; billion increase and that [[Robert Bakish|Bob Bakish]] be maintained as president and COO under Moonves. These conflicts had resulted from [[Shari Redstone]] seeking more control over CBS Corporation and its leadership.<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/moonves-redstone-inside-poisonous-war-control-cbs-viacom-1101570|title=Moonves vs. Redstone: Inside the Poisonous War for Control of CBS and Viacom|work=The Hollywood Reporter|access-date=April 11, 2018|archive-date=April 11, 2018|archive-url=https://web.archive.org/web/20180411210102/https://www.hollywoodreporter.com/news/moonves-redstone-inside-poisonous-war-control-cbs-viacom-1101570|url-status=live}}</ref><ref>{{Cite news|url=https://variety.com/2018/biz/news/cbs-viacom-leslie-moonves-2-1202749787/|title=Could CBS-Viacom Strife Cause Leslie Moonves to Walk Away?|last=Littleton|first=Cynthia|date=April 11, 2018|work=Variety|access-date=April 11, 2018|archive-date=April 12, 2018|archive-url=https://web.archive.org/web/20180412082043/http://variety.com/2018/biz/news/cbs-viacom-leslie-moonves-2-1202749787/|url-status=live}}</ref> Eventually, on May 14, 2018, CBS Corporation sued its and Viacom's parent company National Amusements and accused Redstone of abusing her voting power in the company and [[Hostile takeover|forcing a merger that was not supported by it or Viacom]].<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2018-05-14/cbs-sues-redstone-s-nai-to-let-board-meeting-on-dividend-happen|title=CBS Sues Redstones' Firm in Escalation of Longstanding Fight|date=May 14, 2018|publisher=Bloomberg L.P.|access-date=May 14, 2018|archive-date=May 15, 2018|archive-url=https://web.archive.org/web/20180515163548/https://www.bloomberg.com/news/articles/2018-05-14/cbs-sues-redstone-s-nai-to-let-board-meeting-on-dividend-happen|url-status=live}}</ref><ref>{{Cite news|url=https://deadline.com/2018/05/shari-redstones-national-amusements-outraged-cbs-suit-1202390493/|title=National Amusements Fires Back at CBS Suit, Says It's "Outraged" By Allegations|last=Chmielewski|first=Dawn C.|date=May 14, 2018|publisher=Deadline Hollywood|access-date=May 14, 2018|archive-date=May 14, 2018|archive-url=https://web.archive.org/web/20180514214756/http://deadline.com/2018/05/shari-redstones-national-amusements-outraged-cbs-suit-1202390493/|url-status=live}}</ref> CBS Corporation also accused Redstone of discouraging [[Verizon Communications]] from acquiring it, which could have been beneficial to its shareholders.<ref>{{Cite news|url=https://www.deadline.com/2018/05/verizon-expressed-interest-acquiring-cbs-before-viacom-talks-heated-up-1202390751/amp/|title=Verizon Expressed Interest in Acquiring CBS Before Viacom Talks Heated Up|last=Chmielewski|first=Dawn C.|date=May 14, 2018|publisher=Deadline Hollywood|access-date=May 26, 2018|archive-date=May 27, 2018|archive-url=https://web.archive.org/web/20180527023305/https://deadline.com/2018/05/verizon-expressed-interest-acquiring-cbs-before-viacom-talks-heated-up-1202390751/amp/|url-status=live}}</ref> On May 23, 2018, Les Moonves explained that he considered the Viacom channels to be an "[[Albatross (metaphor)|albatross]]," and while he favored more content for [[CBS All Access]] (now Paramount+), he believed that there were better deals for CBS Corporation than the Viacom deal, such as [[Metro-Goldwyn-Mayer]] (MGM), Lionsgate, or [[Sony Pictures]]. Moonves also considered Bakish a threat because he did not want an ally of Shari Redstone as a board member of the combined company.<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/general-news/behind-leslie-moonves-crusade-save-cbs-viacom-1114203/|title=Behind Leslie Moonves' Crusade to Save CBS From Viacom|last=Bond|first=Paul|date=May 23, 2018|work=The Hollywood Reporter|access-date=February 16, 2022|archive-date=February 17, 2022|archive-url=https://web.archive.org/web/20220217010530/https://www.hollywoodreporter.com/news/general-news/behind-leslie-moonves-crusade-save-cbs-viacom-1114203/|url-status=live}}</ref> On September 9, 2018, Les Moonves exited CBS Corporation following multiple accusations of sexual assault. National Amusements agreed to not propose a CBS Corporation-Viacom merger for at least two years after the date of the settlement.<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/general-news/les-moonves-accused-sex-crimes-violence-by-more-women-1141436/|title=Leslie Moonves Exits CBS After Being Accused of Sex Crimes, Violence by More Women|last=Parker|first=Ryan|date=September 9, 2018|work=The Hollywood Reporter|access-date=February 16, 2022|archive-date=February 16, 2022|archive-url=https://web.archive.org/web/20220216000601/https://www.hollywoodreporter.com/news/general-news/les-moonves-accused-sex-crimes-violence-by-more-women-1141436/|url-status=live}}</ref> On May 30, 2019, CNBC reported that CBS Corporation and Viacom would explore merger discussions in mid-June 2019. CBS Corporation's board of directors was revamped with people who were open to merging; the re-merger was made possible with the resignation of Moonves, who had opposed all merger attempts. The talks had started following rumors of CBS Corporation acquiring [[Starz Inc.|Starz]] from Lionsgate.<ref>{{cite news|url=https://www.latimes.com/business/hollywood/la-fi-ct-cbs-viacom-merger-talks-20190530-story.html|title=CBS and Viacom merger negotiations expected to resume|last=James|first=Meg|date=May 30, 2019|work=Los Angeles Times|access-date=June 2, 2019|archive-date=June 1, 2019|archive-url=https://web.archive.org/web/20190601210940/https://www.latimes.com/business/hollywood/la-fi-ct-cbs-viacom-merger-talks-20190530-story.html|url-status=live}}</ref> Reports said that CBS Corporation and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies.<ref>{{Cite news|url=https://www.fiercevideo.com/video/cbs-viacom-want-remerger-deal-set-by-early-august-report|title=CBS, Viacom set early August deadline for re-merger agreement – report|last=Munson|first=Ben|date=July 16, 2019|work=FierceVideo|access-date=July 20, 2019|archive-date=July 20, 2019|archive-url=https://web.archive.org/web/20190720193559/https://www.fiercevideo.com/video/cbs-viacom-want-remerger-deal-set-by-early-august-report|url-status=live}}</ref><ref>{{Cite news|url=https://variety.com/2019/biz/news/cbs-viacom-boards-wrestle-with-post-merger-management-decisions-ending-coo-role-exclusive-1203273848/|title=CBS, Viacom Boards Wrestle With Post-Merger Management Decisions, Ending COO Role (EXCLUSIVE)|last=Littleton|first=Synthia|date=July 19, 2019|work=Variety|access-date=July 20, 2019|archive-date=July 31, 2019|archive-url=https://web.archive.org/web/20190731043247/https://variety.com/2019/biz/news/cbs-viacom-boards-wrestle-with-post-merger-management-decisions-ending-coo-role-exclusive-1203273848/|url-status=live}}</ref> CBS Corporation announced its plans to acquire Viacom as part of the re-merger deal for up to $15.4&nbsp;billion.<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/how-a-merged-cbs-viacom-could-try-compete-hollywood-giants-1225453|title=Shari Redstone's Vision of a Merged CBS-Viacom Begins to Take Shape|date=July 19, 2019|work=[[The Hollywood Reporter]]|access-date=February 16, 2022|first1=Paul|last1=Bond|first2=Georg|last2=Szalai|archive-date=July 31, 2019|archive-url=https://web.archive.org/web/20190731043244/https://www.hollywoodreporter.com/news/how-a-merged-cbs-viacom-could-try-compete-hollywood-giants-1225453|url-status=live}}</ref> On August 2, 2019, it was reported that CBS Corporation and Viacom agreed to merge back into one entity, with both companies agreeing on the management team for the merger. Bob Bakish would serve as CEO of the combined company with the president and acting CEO of CBS Corporation, [[Joseph Ianniello]], overseeing CBS Corporation-branded assets.<ref>{{cite news|url=https://www.wsj.com/articles/cbs-viacom-reach-working-agreement-on-combined-company-s-leadership-team-11564774333|title=CBS, Viacom Reach Tentative Deal on Team to Lead Combined Company|work=[[The Wall Street Journal]]|date=August 2, 2019|url-access=subscription|access-date=August 3, 2019|archive-date=March 9, 2021|archive-url=https://web.archive.org/web/20210309155725/https://www.wsj.com/articles/cbs-viacom-reach-working-agreement-on-combined-company-s-leadership-team-11564774333|url-status=live}}</ref> On August 7, 2019, CBS and Viacom separately reported their quarterly earnings as the talks about the re-merger continued.<ref>{{Cite web|url=https://www.nexttv.com/news/cbs-viacom-deal-wont-make-deadline-report|title=CBS-Viacom Deal Won't Make Deadline|last=Lafayette|first=Jon|date=August 7, 2019|work=Broadcasting & Cable|access-date=February 16, 2022|archive-date=February 16, 2022|archive-url=https://web.archive.org/web/20220216172335/https://www.nexttv.com/news/cbs-viacom-deal-wont-make-deadline-report|url-status=live}}</ref><ref>{{Cite web|url=https://www.cordcuttersnews.com/cbs-viacoms-merger-announcement-is-reportedly-delayed-as-talks-continue/|title=CBS & Viacom's Merger Announcement is Reportedly Delayed as Talks Continue|last=Bouma|first=Luke|date=August 7, 2019|work=Cord Cutters News|access-date=December 1, 2019|archive-date=October 13, 2020|archive-url=https://web.archive.org/web/20201013100804/https://www.cordcuttersnews.com/cbs-viacoms-merger-announcement-is-reportedly-delayed-as-talks-continue/|url-status=live}}</ref> ===Initial operations=== [[File:ViacomCBS.svg|thumb|left|200px|ViacomCBS logo used from 2019 to 2022; the logo's colors were initially inverted from 2019 to 2020]] On August 13, 2019, CBS and Viacom officially announced their merger; the combined company was to be named ViacomCBS, with Shari Redstone serving as chair.<ref>{{cite web|url=https://www.foxbusiness.com/media/cbs-viacom-merger-agreement|title=CBS, Viacom agree to merge, forming a $28B entertainment firm|last1=Gasparino|first1=Charles|last2=Moynihan|first2=Lydia|date=August 13, 2019|work=Fox Business|access-date=August 13, 2019|archive-date=March 11, 2021|archive-url=https://web.archive.org/web/20210311031847/https://www.foxbusiness.com/media/cbs-viacom-merger-agreement|url-status=live}}</ref><ref>{{cite web|url=https://www.hollywoodreporter.com/tv/tv-news/cbs-viacom-strike-deal-recombine-1075545/|title=CBS, Viacom Strike Deal to Recombine|last1=Szalai|first1=George|last2=Bond|first2=Paul|date=August 13, 2019|work=[[The Hollywood Reporter]]|access-date=February 16, 2022|last3=Vlessing|first3=Etan|archive-date=February 16, 2022|archive-url=https://web.archive.org/web/20220216000607/https://www.hollywoodreporter.com/tv/tv-news/cbs-viacom-strike-deal-recombine-1075545/|url-status=live}}</ref><ref name="ViacomCBSOfficialPDF">{{Cite web|url=https://www.cbscorporation.com/wp-content/uploads/2019/08/ViacomCBS-Press-Release-FINAL.pdf|title=CBS and Viacom To Combine|date=August 12, 2019|publisher=CBS|url-status=dead|access-date=December 1, 2019|archive-date=August 13, 2019|archive-url=https://web.archive.org/web/20190813190148/https://www.cbscorporation.com/wp-content/uploads/2019/08/ViacomCBS-Press-Release-FINAL.pdf}}</ref> Upon the merger agreement, Viacom and CBS jointly announced that the transaction is expected to close by the end of 2019, pending regulatory and shareholder approvals.<ref name="ViacomCBSOfficialPDF"/> The merger required approval by the [[Federal Trade Commission]] (FTC).<ref name="ViacomCBSOfficialPDF" /> On October 28, 2019, the merger was approved by National Amusements, which then announced the deal would close in early December; the recombined company trades its shares on [[Nasdaq]] under the symbols "VIAC" and "VIACA" after CBS Corporation delisted its shares on the [[New York Stock Exchange]] (NYSE).<ref>{{cite web|url=https://variety.com/2019/biz/news/viacom-cbs-early-december-merger-1203386237/|title=Viacom, CBS Set to Merge in Early December|last=Steinberg|first=Brian|date=October 28, 2019|work=[[Variety (magazine)|Variety]]|access-date=October 28, 2019|archive-date=October 28, 2019|archive-url=https://web.archive.org/web/20191028235235/https://variety.com/2019/biz/news/viacom-cbs-early-december-merger-1203386237/|url-status=live}}</ref><ref>{{cite magazine|url=https://www.billboard.com/articles/business/8541228/viacom-cbs-merger-now-expected-to-close-in-early-december|title=Viacom-CBS Merger Now Expected to Close in 'Early December'|last=Weprin|first=Alex|date=October 29, 2019|magazine=[[Billboard (magazine)|Billboard]]|access-date=October 29, 2019}}</ref> On November 25, 2019, Viacom and CBS announced the merger would close on December 4 and begin trading on NASDAQ on the next day.<ref>{{Cite web|url=https://www.businesswire.com/news/home/20191125005214/en/CBS-Corporation-Viacom-Announce-Expected-Closing-Date|title=CBS Corporation and Viacom Inc. Announce Expected Closing Date of Merger|date=November 25, 2019|website=businesswire.com|access-date=November 26, 2019|archive-date=November 30, 2019|archive-url=https://web.archive.org/web/20191130140314/https://www.businesswire.com/news/home/20191125005214/en/CBS-Corporation-Viacom-Announce-Expected-Closing-Date|url-status=live}}</ref><ref>{{Cite web|url=https://www.thewrap.com/cbs-viacom-merger-close-date-dec-4/|title=CBS and Viacom Reveal December Merger Date – Mark Your Calendars|date=November 25, 2019|access-date=November 26, 2019|archive-date=November 29, 2019|archive-url=https://web.archive.org/web/20191129045701/https://www.thewrap.com/cbs-viacom-merger-close-date-dec-4/|url-status=live}}</ref> On December 4, 2019, Bakish confirmed that the ViacomCBS merger had closed.<ref>{{cite web | url = https://www.hollywoodreporter.com/news/general-news/bob-bakishs-memo-viacomcbs-staff-merger-a-historic-moment-1259584/ | title = Bob Bakish's Memo to ViacomCBS Staff: Merger "A Historic Moment" | work = [[The Hollywood Reporter]] | date = December 4, 2019 | access-date = February 16, 2022 | first = Alex | last = Weprin | archive-date = April 25, 2022 | archive-url = https://web.archive.org/web/20220425052046/https://www.hollywoodreporter.com/news/general-news/bob-bakishs-memo-viacomcbs-staff-merger-a-historic-moment-1259584/ | url-status = live }}</ref> On December 10, 2019, days after the merger, Bakish announced that ViacomCBS would look to divest [[CBS Building|Black Rock]], the building that held CBS's headquarters since 1964. He stated, "Black Rock is not an asset we need to own and we believe that money would be put to better use elsewhere."<ref>{{cite news |last1=Weprin |first1=Alex |title=CBS' Historic New York Headquarters to Be Sold |url=https://www.hollywoodreporter.com/tv/tv-news/cbs-black-rock-new-york-headquarters-be-sold-1260942/ |date=December 9, 2019 |access-date=February 16, 2022 |work=The Hollywood Reporter |archive-date=February 17, 2022 |archive-url=https://web.archive.org/web/20220217010531/https://www.hollywoodreporter.com/tv/tv-news/cbs-black-rock-new-york-headquarters-be-sold-1260942/ |url-status=live }}</ref> On December 20, 2019, ViacomCBS agreed to acquire a 49% minority stake in film studio [[Miramax]] from [[beIN Media Group]] for $379&nbsp;million. As part of the purchase, [[Paramount Pictures]] reached a long-term deal for exclusive distribution rights to its library, and [[First-look deal|first-look]] agreements to co-develop new film and television projects based on Miramax-owned properties.<ref>{{Cite web|url=https://www.hollywoodreporter.com/business/business-news/viacomcbs-acquire-49-percent-stake-miramax-375-million-1252722/|title=ViacomCBS to acquire 49 percent stake in Miramax for $375 million|last=Szalai|first=Georg|work=The Hollywood Reporter|date=December 20, 2019|access-date=February 16, 2022|archive-date=February 17, 2022|archive-url=https://web.archive.org/web/20220217010543/https://www.hollywoodreporter.com/business/business-news/viacomcbs-acquire-49-percent-stake-miramax-375-million-1252722/|url-status=live}}</ref> On March 2, 2020, executive vice president Dana McClintock announced that he would depart the company after 27 years in CBS Communications.<ref>{{Cite web|last=Patten|first=Dominic|date=March 2, 2020|title=CBS Communications Chief Dana McClintock To Exit This Summer After 27 Years At Company|url=https://deadline.com/2020/03/cbs-dana-mcclintock-exit-joe-ianniello-viacomcbs-merger-1202872075/|access-date=March 3, 2020|website=Deadline|archive-date=July 2, 2020|archive-url=https://web.archive.org/web/20200702074228/https://deadline.com/2020/03/cbs-dana-mcclintock-exit-joe-ianniello-viacomcbs-merger-1202872075/|url-status=live}}</ref> On March 4, the company announced plans to potentially sell its [[Simon & Schuster]] publishing unit, with Bakish arguing that it lacked a "significant connection for our broader business."<ref>{{Cite web|last=Baysinger|first=Tim|date=March 4, 2020|title=ViacomCBS to Sell Publisher Simon and Schuster|url=https://www.thewrap.com/viacomcbs-to-sell-publisher-simon-and-schuster/|access-date=July 14, 2020|website=TheWrap|archive-date=August 18, 2020|archive-url=https://web.archive.org/web/20200818021821/https://www.thewrap.com/viacomcbs-to-sell-publisher-simon-and-schuster/|url-status=live}}</ref> On June 19, 2020, Jaime Ondarza, formerly the senior vice president of [[Turner Broadcasting]] South Europe and Africa, became the new head of ViacomCBS Networks International for France, Spain, Portugal, Italy, the Middle East, Greece, and Turkey.<ref>{{Cite web|date=June 19, 2020|title=ViacomCBS hires former Turner exec Jaime Ondarza for Europe role|url=https://tbivision.com/2020/06/19/vcni-hires-jaime-ondarza-to-head-new-territory/|access-date=June 24, 2020|website=TBI Vision|archive-date=October 6, 2020|archive-url=https://web.archive.org/web/20201006230113/https://tbivision.com/2020/06/19/vcni-hires-jaime-ondarza-to-head-new-territory/|url-status=live}}</ref> On August 4, 2020, ViacomCBS announced that the company's connected video advertising platform, EyeQ, is set to launch in fall 2020.<ref>{{Cite web|date=August 4, 2020|title=ViacomCBS Sets Launch Of EyeQ, A Comprehensive Offering For Advertisers|url=https://deadline.com/2020/08/viacomcbs-sets-launch-of-eyeq-a-comprehensive-offering-for-advertisers-1203002456/|access-date=August 4, 2020|last=Hayes|first=Dade|website=[[Deadline Hollywood]]|archive-date=September 23, 2020|archive-url=https://web.archive.org/web/20200923134148/https://deadline.com/2020/08/viacomcbs-sets-launch-of-eyeq-a-comprehensive-offering-for-advertisers-1203002456/|url-status=live}}</ref> On September 14, 2020, ViacomCBS announced an agreement to sell the CBSi-owned [[CNET|CNET Media Group]] to [[Red Ventures]] for $500&nbsp;million. The deal included the eponymous CNET tech site, as well as [[ZDNet]], [[GameSpot]], the ''[[TV Guide]]'' digital assets, [[Metacritic]], and [[Chowhound]].<ref>{{Cite web|date=September 14, 2020|title=Red Ventures acquires CNET Media Group from ViacomCBS for $500M|url=https://techcrunch.com/2020/09/14/red-ventures-acquires-cnet-media-group-from-viacomcbs-for-500m/|access-date=September 14, 2020|last=Hayes|website=TechCrunch|archive-date=February 28, 2021|archive-url=https://web.archive.org/web/20210228062626/https://techcrunch.com/2020/09/14/red-ventures-acquires-cnet-media-group-from-viacomcbs-for-500m/|url-status=live}}</ref><ref>{{Cite news|last=Mullin|first=Benjamin|date=September 14, 2020|title=WSJ News Exclusive {{!}} ViacomCBS to Sell CNET to Red Ventures for $500 Million|work=[[The Wall Street Journal]]|url=https://www.wsj.com/articles/viacomcbs-nears-deal-to-sell-cnet-to-red-ventures-for-500-million-11600057067|access-date=September 15, 2020|issn=0099-9660|archive-date=October 10, 2020|archive-url=https://web.archive.org/web/20201010143625/https://www.wsj.com/articles/viacomcbs-nears-deal-to-sell-cnet-to-red-ventures-for-500-million-11600057067|url-status=live}}</ref> The deal closed on October 30, 2020.<ref>{{Cite web|title=Red Ventures Announces Closing of Acquisition of CNET Media Group|url=https://www.prnewswire.com/news-releases/red-ventures-announces-closing-of-acquisition-of-cnet-media-group-301163922.html|date=October 30, 2020|access-date=November 6, 2020|website=PR Newswire|archive-date=June 8, 2021|archive-url=https://web.archive.org/web/20210608220527/https://www.prnewswire.com/news-releases/red-ventures-announces-closing-of-acquisition-of-cnet-media-group-301163922.html|url-status=live}}</ref> On November 17, 2020, various news outlets reported that companies such as [[Vivendi]], [[Bertelsmann]]'s [[Penguin Random House]] and [[News Corp]]'s [[HarperCollins]] had considered acquiring [[Simon & Schuster]] for as much as $1.7&nbsp;billion. ViacomCBS had expected the bids to be placed before November 26.<ref>{{Cite web|title=Simon & Schuster Bids Due by Thanksgiving; News Corp., Bertelsmann, Vivendi Contenders for ViacomCBS Publisher|url=https://deadline.com/2020/11/harpercollins-bertelsmann-vivendi-contenders-for-simon-schuster-bids-viacomcbs-publisher-thanksgiving-1234617076|website=Deadline|last=Goldsmith|first=Jill|date=November 17, 2020|access-date=November 28, 2020|archive-date=November 26, 2020|archive-url=https://web.archive.org/web/20201126124821/https://deadline.com/2020/11/harpercollins-bertelsmann-vivendi-contenders-for-simon-schuster-bids-viacomcbs-publisher-thanksgiving-1234617076/|url-status=live}}</ref> On November 25, 2020, Penguin Random House agreed to purchase Simon & Schuster for $2.175&nbsp;billion;<ref>{{Cite web|title=ViacomCBS Sells Simon & Schuster to Penguin Random House for $2 billion|url=https://www.cnbc.com/2020/11/25/viacomcbs-sells-simon-schuster-to-penguin-random-house-for-2-billion.html|website=CNBC|last=Whitten|first=Sarah|date=November 25, 2020|access-date=November 28, 2020|archive-date=November 25, 2020|archive-url=https://web.archive.org/web/20201125215429/https://www.cnbc.com/2020/11/25/viacomcbs-sells-simon-schuster-to-penguin-random-house-for-2-billion.html|url-status=live}}</ref> however, the deal was blocked two years later by U.S. federal judge [[Florence Y. Pan]].<ref>{{Cite news|last1=Alter|first1=Alexandra|last2=Harris|first2=Elizabeth A.|date=2022-10-31|title=Judge Blocks a Merger of Big Publishers|language=en-US|work=The New York Times|url=https://www.nytimes.com/2022/10/31/books/penguin-random-house-simon-schuster.html|issn=0362-4331|access-date=November 22, 2022|archive-date=November 22, 2022|archive-url=https://web.archive.org/web/20221122173104/https://www.nytimes.com/2022/10/31/books/penguin-random-house-simon-schuster.html|url-status=live}}</ref> On August 16, 2021, ViacomCBS announced that they had agreed to sell the [[CBS Building]] to the real estate investment and management firm Harbor Group International for $760&nbsp;million, leasing the space back under a short-term lease.<ref>{{cite web|title=ViacomCBS Sells Black Rock Building In Midtown Manhattan To Harbor Group For $760 Million|url=https://deadline.com/2021/08/viacomcbs-black-rock-cbs-harbor-group-1234815841/|website=[[Deadline Hollywood]]|last=Goldsmith|first=Jill|date=August 16, 2021|access-date=August 16, 2021|archive-date=August 16, 2021|archive-url=https://web.archive.org/web/20210816203017/https://deadline.com/2021/08/viacomcbs-black-rock-cbs-harbor-group-1234815841/|url-status=live}}</ref> On September 28, 2021, ViacomCBS announced that they had agreed to partner with software and data firm VideoAmp.<ref>{{cite web|title=ViacomCBS Teams With VideoAmp To Explore Alternative TV Ad Currency|url=https://deadline.com/2021/09/viacomcbs-videoamp-tv-advertising-currency-nielsen-1234845816/|website=[[Deadline Hollywood]]|last=Hayes|first=Dade|date=September 28, 2021|access-date=September 28, 2021|archive-date=September 28, 2021|archive-url=https://web.archive.org/web/20210928145354/https://deadline.com/2021/09/viacomcbs-videoamp-tv-advertising-currency-nielsen-1234845816/|url-status=live}}</ref> On October 28, 2021, ViacomCBS announced that they had agreed to acquire a majority stake in the Spanish-language content producer [[TeleColombia]] & Estudios TeleMexico.<ref>{{cite web|title=ViacomCBS Buys Majority Stake In Spanish Content Producer Fox TeleColombia & Estudios TeleMexico|url=https://deadline.com/2021/10/viacomcbs-spanish-content-fox-telecolombia-estudios-telemexico-1234863983/|website=[[Deadline Hollywood]]|last=Goldsmith|first=Jill|date=October 28, 2021|access-date=October 28, 2021|archive-date=October 28, 2021|archive-url=https://web.archive.org/web/20211028141930/https://deadline.com/2021/10/viacomcbs-spanish-content-fox-telecolombia-estudios-telemexico-1234863983/|url-status=live}}</ref> On November 30, 2021, ViacomCBS announced that they had agreed to sell the [[CBS Studio Center]] to Hackman Capital Partners and Square Mile Capital Management for $1.85&nbsp;billion.<ref>{{cite web|title=ViacomCBS to Sell Iconic CBS Studio Center for $1.85 Billion|url=https://variety.com/2021/tv/news/viacomcbs-sells-cbs-studio-center-1-85-billion-1235121942/|work=[[Variety (magazine)|Variety]]|last=Spangler|first=Todd|date=November 30, 2021|access-date=November 30, 2021|archive-date=November 30, 2021|archive-url=https://web.archive.org/web/20211130143703/https://variety.com/2021/tv/news/viacomcbs-sells-cbs-studio-center-1-85-billion-1235121942/|url-status=live}}</ref> On January 5, 2022, ''[[The Wall Street Journal]]'' reported that ViacomCBS and WarnerMedia (whose then-owner AT&T was selling it to [[Discovery, Inc.|Discovery]] to form [[Warner Bros. Discovery]]) were exploring a possible sale of either a majority stake or all of [[The CW]], and that [[Nexstar Media Group]] was considered a leading bidder.<ref>{{cite web|url=https://www.wsj.com/articles/warnermedia-and-viacomcbs-are-exploring-possible-sale-of-cw-network-11641436892|title=WarnerMedia and ViacomCBS Are Exploring Possible Sale of CW Network|last=Flint|first=Joe|work=The Wall Street Journal|date=January 5, 2022|access-date=January 6, 2022|archive-date=January 6, 2022|archive-url=https://web.archive.org/web/20220106024412/https://www.wsj.com/articles/warnermedia-and-viacomcbs-are-exploring-possible-sale-of-cw-network-11641436892|url-status=live}}</ref> Reports indicated that ViacomCBS and WarnerMedia could include a contractual commitment that would require any new owner to buy new programming from those companies, allowing them to reap some continual revenue through the network.<ref>{{cite web|url=https://www.cbr.com/the-cw-sale-may-kill-original-programming-report/|title=REPORT: The CW's Potential Sale May Kill Its Original Programming|last=Farley|first=Ashley|work=Comic Book Resources|date=January 13, 2022|access-date=January 14, 2022|archive-date=January 14, 2022|archive-url=https://web.archive.org/web/20220114161425/https://www.cbr.com/the-cw-sale-may-kill-original-programming-report/|url-status=live}}</ref> Then-network president/CEO [[Mark Pedowitz]] confirmed talks of a potential sale in a memo to CW staffers, but added that "It's too early to speculate what might happen."<ref>{{cite web|last1=Goldberg|first1=Lesley|last2=Weprin|first2=Alex|date=January 6, 2022|title=ViacomCBS and WarnerMedia Exploring Sale of The CW|url=https://www.hollywoodreporter.com/business/business-news/the-cw-for-sale-warnermedia-viacomcbs-1235070616/|access-date=January 9, 2022|work=The Hollywood Reporter|archive-date=January 6, 2022|archive-url=https://web.archive.org/web/20220106130003/https://www.hollywoodreporter.com/business/business-news/the-cw-for-sale-warnermedia-viacomcbs-1235070616/|url-status=live}}</ref><ref>{{cite web|url=https://deadline.com/2022/01/the-cw-sale-warnermedia-viacomcbs-nexstar-1234905157|title=The CW CEO Mark Pedowitz Confirms WarnerMedia & ViacomCBS Exploring "Strategic Opportunities" As Majority Stake In Network Is Shopped With Nexstar Among Suitors" As Majority Stake In Network Is Shopped With Nexstar Among Suitors – Update|last=Andreeva|first=Nellie|work=Deadline Hollywood|date=January 6, 2022|access-date=January 6, 2022|archive-date=January 6, 2022|archive-url=https://web.archive.org/web/20220106063426/https://deadline.com/2022/01/the-cw-sale-warnermedia-viacomcbs-nexstar-1234905157/|url-status=live}}</ref> ===Rebranding=== On February 15, 2022, during a presentation to investors, ViacomCBS announced that it would change its name to Paramount Global beginning the following day; in a memo to staff announcing the change, it was stated that the rebranding was intended to leverage the "iconic global name", and would "reflect who we are, what we aspire to be, and all that we stand for." The company primarily does business as simply "Paramount".<ref>{{cite web|last=Littleton|first=Cynthia|date=February 15, 2022|title=Goodbye Viacom and CBS: ViacomCBS Changes Corporate Name to Paramount|url=https://variety.com/2022/film/news/viacomcbs-paramount-corporate-name-change-1235182825/|access-date=February 15, 2022|website=Variety|archive-date=February 15, 2022|archive-url=https://web.archive.org/web/20220215221417/https://variety.com/2022/film/news/viacomcbs-paramount-corporate-name-change-1235182825/|url-status=live}}</ref> In May 2022, [[Berkshire Hathaway]] acquired a 15.4% stake in the company for $2.6&nbsp;billion.<ref>{{cite web|last1=Murphy|first1=J. Kim|last2=Littleton|first2=Cynthia|title=Warren Buffett's Berkshire Hathaway Acquires Small Stake in Paramount Global|url=https://variety.com/2022/film/news/warren-buffett-paramount-global-berkshire-hathaway-streaming-1235268801/|website=[[Variety (magazine)|Variety]]|date=May 16, 2022|access-date=May 17, 2022|archive-date=May 17, 2022|archive-url=https://web.archive.org/web/20220517152330/https://variety.com/2022/film/news/warren-buffett-paramount-global-berkshire-hathaway-streaming-1235268801/|url-status=live}}</ref><ref name="auto">{{Cite web |last=Li |first=Yun |date=2023-05-26 |title=Paramount pops after Buffett's favorite banker makes 'interesting' bet in media giant's key shareholder |url=https://www.cnbc.com/2023/05/26/paramount-shares-pop-after-bdt-capital-bets-on-the-media-giants-key-shareholder.html |access-date=2023-08-08 |website=CNBC |language=en}}</ref> Nexstar announced on August 15 that it would acquire a 75% majority share in The CW; the remaining 25% would be shared equally by Paramount and Warner Bros. Discovery.<ref name="DeadlineConferenceCall">{{cite web |last=Hayes |first=Dade |date=August 15, 2022 |title=The CW Will Be A Profitable Network By 2025, With Broader And Cheaper Programming, New Owners At Nexstar Signal |url=https://deadline.com/2022/08/the-cw-will-become-profitable-network-2025-broader-cheaper-programming-nexstar-1235092173/ |access-date=August 15, 2022 |work=Deadline Hollywood |archive-date=August 15, 2022 |archive-url=https://web.archive.org/web/20220815144120/https://deadline.com/2022/08/the-cw-will-become-profitable-network-2025-broader-cheaper-programming-nexstar-1235092173/ |url-status=live }}</ref><ref>{{cite web |last=Nieto |first=Phillip |date=August 15, 2022 |title=Nexstar Media purchases 75% of CW Network from Warner Bros Discovery and Paramount |url=https://www.foxbusiness.com/media/nexstar-media-purchases-cw-network-warner-bros-discovery-paramount |access-date=August 15, 2022 |work=Fox Business |archive-date=August 15, 2022 |archive-url=https://web.archive.org/web/20220815172526/https://www.foxbusiness.com/media/nexstar-media-purchases-cw-network-warner-bros-discovery-paramount |url-status=live }}</ref> As the deal did not require any regulatory approvals (unlike the [[Big Three (American television)|"Big Four"]] networks, which includes CBS, The CW does not directly own any of its stations), Nexstar immediately took operational control of the network on the same day. The deal was closed on October 3, with CEO Mark Pedowitz stepping down and Dennis Miller taking Pedowitz's role as president of The CW.<ref>{{Cite web |last1=Steinberg |first1=Brian |date=2022-10-03 |title=Mark Pedowitz Will Leave CW Amid Nexstar Acquisition |url=https://variety.com/2022/tv/news/mark-pedowitz-cw-departure-nexstar-1235390915/ |access-date=2022-10-03 |website=Variety |language=en-US |archive-date=October 3, 2022 |archive-url=https://web.archive.org/web/20221003120421/https://variety.com/2022/tv/news/mark-pedowitz-cw-departure-nexstar-1235390915/ |url-status=live }}</ref><ref>{{Cite web |last1=Andreeva |first1=Nellie |date=2022-10-03 |title=Mark Pedowitz's Farewell Message To The CW Staff: "May All Of You Continue To Dare To Defy The Naysayers" |url=https://deadline.com/2022/10/mark-pedowitz-farewell-message-the-cw-staff-exit-1235133350/ |access-date=2022-10-03 |website=Deadline |language=en-US |archive-date=October 3, 2022 |archive-url=https://web.archive.org/web/20221003123412/https://deadline.com/2022/10/mark-pedowitz-farewell-message-the-cw-staff-exit-1235133350/ |url-status=live }}</ref> Paramount's CBS News and Stations unit announced on May 5, 2023, that its eight CW stations would become independent on September 1, per the Nexstar buyout deal.<ref>{{Cite web |last=Rice |first=Lynette |date=2023-05-05 |title=Eight CBS Stations To Ditch CW And Go Independent This Fall |url=https://deadline.com/2023/05/cbs-stations-eight-drop-cw-go-independent-this-fall-1235357388/ |access-date=2023-06-15 |website=Deadline |language=en-US |archive-date=May 5, 2023 |archive-url=https://web.archive.org/web/20230505155410/https://deadline.com/2023/05/cbs-stations-eight-drop-cw-go-independent-this-fall-1235357388/ |url-status=live }}</ref> On August 7, Paramount announced that it had agreed to sell Simon & Schuster to private equity firm [[Kohlberg Kravis Roberts|KKR]] for $1.6&nbsp;billion in cash.<ref>{{cite web|title=After Blocked Deal, Paramount Sells Simon & Schuster to Private Equity Firm KKR for $1.62B|url=https://www.hollywoodreporter.com/business/business-news/simon-schuster-sold-paramount-1235526542/|website=[[The Hollywood Reporter]]|last=Hayden|first=Erik|date=August 7, 2023|access-date=August 8, 2023}}</ref> The sale was completed on October 30.<ref>{{cite web|last=Hayes|first=Dade|title=Paramount Closes $1.62B Sale Of Simon & Schuster To Investment Firm KKR|url=https://deadline.com/2023/10/paramount-closes-simon-and-schuster-investment-firm-kkr-book-publishing-1235587618/|website=Deadline Hollywood|date=October 30, 2023|access-date=October 30, 2023}}</ref> ===Merger with Skydance Media=== {{Main|Proposed merger of Skydance Media and Paramount Global}} On December 20, 2023, it was reported by [[Axios (website)|Axios]] and ''[[The New York Times]]'' that [[David Zaslav]], CEO of Warner Bros. Discovery, had met with Bob Bakish and had discussed a possible merger. Spokespeople for the two companies stated that the talks were preliminary and may not resulted in a deal,<ref>{{cite web |last1=Fischer |first1=Sara |date=20 December 2023 |title=Scoop: Warner Bros. Discovery in talks to merge with Paramount Global |url=https://www.axios.com/2023/12/20/warner-bros-paramount-merger-discovery-streaming |access-date=21 December 2023 |website=Axios}}</ref><ref>{{cite web |last1=Mullin |first1=Benjamin |date=20 December 2023 |title=Warner Bros. Discovery in Talks to Merge With Paramount |url=https://www.nytimes.com/2023/12/20/business/media/warner-bros-discovery-paramount-talks.html |access-date=21 December 2023 |website=The New York Times}}</ref> while [[Fox Business]] reported via internal sources that Zaslav was "not in deal mode".<ref>{{Cite web |last=Charlie Gasparino |first=Eleanor Terrett |date=2023-12-21 |title=Warner Bros. Discovery CEO Zaslav not ready to make deal for Paramount but options remain on table |url=https://www.foxbusiness.com/media/warner-bros-discovery-ceo-zaslav-not-ready-to-make-deal-for-paramount |access-date=2023-12-23 |publisher=[[Fox Business]] |language=en-US}}</ref> On January 10, 2024, National Amusements was reported to be considering a deal or merger regarding Paramount Global, with [[Skydance Media]] considering an all-cash bid of $2.5 billion for the earlier company.<ref>{{Cite web |last=Hayes |first=Dade |date=January 10, 2024 |title=New Paramount Merger Scenario Has Skydance Reportedly Mulling All-Cash Bid For National Amusements |url=https://deadline.com/2024/01/paramount-skydance-national-amusements-all-cash-bid-1235710804/ |access-date=July 5, 2024 |website=[[Deadline Hollywood]] }}</ref><ref name="thrr">{{Cite web |last=Weprin |first=Alex |last2=Masters |first2=Kim |date=2024-06-09 |title=Why Is Shari Redstone so Upset? |url=https://www.hollywoodreporter.com/business/business-news/paramount-sale-shari-redstone-skydance-upset-1235917956/ |access-date=2024-08-01 |website=The Hollywood Reporter |language=en-US}}</ref> During this time, Paramount announced it would be laying off 800 employees.<ref>{{Cite web |last=Spangler |first=Todd |date=2024-02-13 |title=Paramount Global Laying Off 800 Employees as CEO Bakish Cites Need to Cut Costs |url=https://variety.com/2024/tv/news/paramount-global-layoffs-ceo-bakish-memo-1235909218/ |access-date=2024-08-09 |website=Variety |language=en-US}}</ref> On February 27, 2024, CNBC reported that Warner Bros. Discovery halted the merger talks with Paramount.<ref>{{Cite web |last=Sherman |first=Alex |date=February 27, 2024 |title=Warner Bros. Discovery halts merger talks with Paramount Global, sources say |url=https://www.cnbc.com/2024/02/27/warner-bros-discovery-halts-paramount-global-merger-talks.html |access-date=February 27, 2024 |publisher=[[CNBC]] |language=en-US}}</ref> On April 2, 2024, Paramount and National Amusements approached Skydance for an exclusive acquisition window agreement. Shari Redstone and [[David Ellison]] sought a three-way transaction between the companies.<ref>{{Cite web |last=Littleton |first=Cynthia |date=2024-04-03 |title=National Amusements and Paramount Global Close to Setting an Exclusive Window for Acquisition Talks with Skydance Media |url=https://variety.com/2024/biz/news/paramount-shari-redstone-skydance-ellison-national-amusements-1235958618/ |access-date=2024-04-03 |website=Variety |language=en-US}}</ref> On April 18, it was reported that Sony Pictures was interested in acquiring Paramount Global through a joint buyout with Apollo.<ref>{{Cite web |date=2024-04-19 |title=Sony, Apollo discuss joint bid for Paramount, says source |url=https://finance.yahoo.com/news/sony-apollo-discuss-joint-bid-012459353.html |access-date=2024-04-28 |website=Yahoo Finance |language=en-US}}</ref><ref>{{Cite web |title=Sony and Apollo discuss teaming up to bid for Paramount Global |url=https://www.ft.com/content/cba5892a-b392-46b8-82d3-3bd5f5876186 |access-date=2024-04-25 |website=www.ft.com}}</ref><ref>{{Cite web |title=Apollo Global reportedly still interested in deal for all or parts of Paramount |url=https://www.c21media.net/news/apollo-global-reportedly-still-interested-in-deal-for-all-or-parts-of-paramount/ |access-date=2024-03-19 |website=C21media |language=en-us}}</ref> On April 29, 2024, Bob Bakish stepped down from his role as President and CEO. He was replaced by an office of the CEO, led by [[Brian Robbins]], George Cheeks, and [[Chris McCarthy (executive)|Chris McCarthy]].<ref>{{Cite web |last=Goldsmith |first=Jill |date=2024-04-29 |title=It’s Official: Bob Bakish Is Out At Paramount Global, Trio Of Division Heads Form New Office Of The CEO |url=https://deadline.com/2024/04/bob-bakish-leaving-paramount-global-division-heads-office-of-ceo-1235898125/ |access-date=2024-04-29 |website=Deadline |language=en-US}}</ref> ''[[The Los Angeles Times]]'' characterized this as an ouster by Redstone due to Bakish's reported opposition of the Skydance deal.<ref name="LAAQQ">{{Cite web |last=James |first=Meg |date=July 3, 2024 |title=So the Paramount and Skydance deal is back on track. What happened and what’s next? |url=https://www.latimes.com/entertainment-arts/business/story/2024-07-03/paramount-and-skydance-deal-is-back-on-track-what-happened-and-whats-next |access-date=July 5, 2024 |website=[[The Los Angeles Times]] }}</ref> McCarthy was legally designated the company's "interim principal executive officer" in order to comply with [[U.S. Securities and Exchange Commission|SEC]] regulations stipulating that one person must conduct "the normal course of business".<ref>{{cite web|url=https://deadline.com/2024/05/paramount-bob-bakish-exit-terms-chris-mccarthy-interim-principal-executive-1235904035/|title=Paramount Unveils Bob Bakish Exit Terms, Names Chris McCarthy 'Interim Principal Executive' For SEC Purposes|first=Jill|last=Goldsmith|work=[[Deadline Hollywood|Deadline]]|date=May 3, 2024|access-date=May 7, 2024}}</ref> On May 2, Sony and Apollo submitted a non-binding offer to Paramount for a $26 billion all-cash offer, with terms unclear at that point.<ref>{{Cite web |last=Spangler |first=Todd |url=https://variety.com/2024/biz/news/sony-apollo-paramount-global-acquisition-offer-cash-1235981220/ |title=Sony Pictures, Apollo Offer to Buy Paramount Global for $26 Billion in Cash |date=May 2, 2024 |website=Variety |access-date=July 8, 2024 }}</ref> Skydance's exclusive negotiation window ended on May 3, 2024 and was not renewed, although the company was still interested in buying Paramount. The following day, Paramount's board members met, considering a "go-shop" approach for other such offers; it was ultimately decided that they would begin negotiations regarding Sony and Apollo's offer while still holding non-exclusive talks with Skydance.<ref>{{cite web|title=Paramount To Negotiate With Sony & Apollo But Continue Skydance Talks; James Cameron, Ari Emanuel Back David Ellison – Update|website=[[Deadline Hollywood]]|first=Jill|last=Goldsmith|date=4 May 2024|access-date=5 May 2024|url=https://deadline.com/2024/05/skydance-paramount-negotiating-window-ending-soon-amid-sony-apollo-bid-1235903788/}}</ref> That same day, Berkshire Hathaway's [[Warren Buffett]] stated in an annual meeting that he had sold all of his shares in Paramount at a substantial loss.<ref>{{cite web|title=Warren Buffett Says He Has Sold All Of His Paramount Global Stock, Losing "Quite A Bit Of Money"|website=[[Deadline Hollywood]]|first=Dade|last=Hayes|date=4 May 2024|access-date=5 May 2024|url=https://deadline.com/2024/05/warren-buffett-paramount-global-stock-lost-money-1235904647/}}</ref> By May 17, Sony and Apollo signed [[non-disclosure agreements]] allowing them to investigate Paramount's private financial information, further progressing their bid. However, at that time, the companies were reportedly backing away from their all-cash offer and were re-thinking their approach to a deal for the company's assets.<ref>{{Cite web |last1=Mullin |first1=Benjamin |last2=Hirsch |first2=Lauren |url=https://www.nytimes.com/2024/05/17/business/paramount-sony-apollo-assets.html |title=Sony and Apollo Take Key Step in Bid for Paramount’s Assets |date=May 17, 2024 |website=[[The New York Times]] |access-date=July 8, 2024 }}</ref><ref>{{Cite web |url=https://www.reuters.com/markets/deals/sony-apollo-move-ahead-with-paramount-bid-process-reticent-about-earlier-plan-2024-05-18/ |title=Sony and Apollo move ahead with Paramount bid process but reticent about earlier plan, NYT reports |date=May 17, 2024 |website=[[Reuters]] |access-date=July 8, 2024 }}</ref> In late May, Skydance would revise its offer to acquire National Amusements, paying $2.25 billion and stipulating that Paramount's shareholders would receive $4.5 billion in cash, with the company taking $1.5 billion in debt reduction funds, which ''The Wall Street Journal'' reported an independent committee representing Paramount had ultimately recommended.<ref name="million">{{cite news |last=Manfredi |first=Lucas |title=Paramount Special Committee Recommends Revised Offer From David Ellison’s Skydance Media |url=https://www.thewrap.com/paramount-special-committee-recommends-skydance-sweetened-offer/ |access-date=3 June 2024 |work=[[TheWrap]] |date=31 May 2024}}</ref><ref name="johnpaul" /><ref name ="thrr" /> By June 3, Paramount and Skydance had agreed to terms of a merger. A final deal was expected to be announced in the coming days.<ref>{{cite web |last1=Rizzo |first1=Lillian |last2=Sherman |first2=Alex |title=Paramount and Skydance agree to terms of a merger deal |url=https://www.cnbc.com/2024/06/03/paramount-skydance-merger-deal-update.html |website=[[CNBC]] |access-date=3 June 2024 |language=en |date=3 June 2024}}</ref> However, at that point, Redstone's National Amusements had not formally approved the deal.<ref>{{Cite web |last=Spangler |first=Todd |url=https://variety.com/2024/biz/news/paramount-skydance-agree-merger-shari-redstone-approval-1236023450/ |title=Paramount, Skydance Agree on New M&A Deal Terms but Shari Redstone Hasn’t Approved Pact Yet |date=June 3, 2024 |website=[[Variety (website)|Variety]] |access-date=June 5, 2024 }}</ref> Redstone was reportedly displeased with the revised terms, as she would now received less money for her shares and Skydance wanted Redstone to assume legal liabilities in the case of shareholders lawsuits unhappy with the deal.<ref>{{Cite web |last=D'Alessandro |first=Anthony |last2=Goldsmith |first2=Jill |date=2024-06-12 |title=What’s Next For Paramount After Skydance Merger Talks Fail |url=https://deadline.com/2024/06/paramount-sale-skydance-merger-talks-fail-whats-next-1235970937/ |access-date=2024-08-01 |website=Deadline |language=en-US}}</ref> She considered a sale of her company to another bidder, with such names as writer and producer [[Steven Paul]], businessman [[Edgar Bronfman Jr.]], [[Bain Capital]], [[Patrón Tequila]] founder [[John Paul DeJoria]] and businessman [[Barry Diller]] in the running.<ref>{{Cite web |last=Chmielewski |first=Dawn |url=https://www.reuters.com/business/media-telecom/paramount-globals-co-ceos-lay-out-strategy-shareholders-2024-06-04/ |title=Paramount-Skydance talks take turn as rival bidders press their case |date=June 4, 2024 |website=[[Reuters]] |access-date=June 5, 2024}}</ref><ref name="johnpaul">{{Cite web |last=Palmeri |first=Christopher |url=https://www.bloomberg.com/news/articles/2024-06-06/paramount-s-rival-bidders-include-the-patron-tequila-billionaire?srnd=all |title=Paramount’s Rival Bidders Include the Patrón Tequila Billionaire |date=June 5, 2024 |website=[[Bloomberg News]] |access-date=June 5, 2024 }}</ref> On June 11, National Amusements announced they had failed to reach an agreement with Skydance to acquire Paramount.<ref>{{cite web |last1=Rizzo |first1=Lillian |title=National Amusements stops discussions with Skydance on Paramount deal, sources say |url=https://www.nbcnews.com/business/business-news/national-amusements-stops-discussions-skydance-paramount-deal-sources-rcna156659 |website=NBC News |access-date=11 June 2024 |language=en |date=11 June 2024}}</ref> By July 2, 2024, Skydance renegotiated the deal and reached a preliminary agreement to acquire National Amusements and merge with Paramount.<ref name=":0" /> The deal was referred by National Amusements to Paramount's special committee.<ref>{{Cite web |last=Rizzo |first=Lillian |url=https://www.nbcnews.com/business/business-news/skydance-national-amusements-paramount-deal-special-committee-reviews-rcna160084 |title=Skydance and National Amusements near Paramount deal as special committee reviews terms |date=July 2, 2024 |publisher=[[NBC News]] |access-date=July 4, 2024 }}</ref> Also, Paramount reportedly entered talks for a sale of the [[BET Networks|BET Media Group]] to buyers led by BET CEO [[Scott Mills (businessman)|Scott Mills]] for $1.6-$1.7 billion.<ref>{{Cite web |last=Spangler |first=Todd |url=https://variety.com/2024/tv/news/paramount-bet-buyout-talks-scott-mills-1236059457/ |title=Paramount Reportedly in Talks to Sell BET for $1.6 Billion in Buyout Led by CEO Scott Mills |date=July 2, 2024 |website=Variety |access-date=July 8, 2024 }}</ref> On July 7, 2024, Paramount's board approved the deal to merge with Skydance.<ref>{{Cite news |last=Mullin |first=Benjamin |last2=Hirsch |first2=Lauren |date=2024-07-07 |title=Paramount Agrees to Merge With Skydance |url=https://www.nytimes.com/2024/07/07/business/media/paramount-skydance-merger-deal.html |access-date=2024-07-08 |work=The New York Times |language=en-US |issn=0362-4331}}</ref> Under the final deal, which has an enterprise value of $28 billion, Ellison would be appointed as Chairman and CEO of what is currently being called "New Paramount" and former NBCUniversal CEO [[Jeff Shell]] would become company president. Before finalization, Paramount Global would retain a 45-day window to shop for matching or superior offers from other bidders. Redstone will receive $2.4 billion for her share in National Amusements.<ref>{{Cite web |last= |url=https://ir.paramount.com/news-releases/news-release-details/skydance-media-and-paramount-global-sign-definitive-agreement/ |title=SKYDANCE MEDIA AND PARAMOUNT GLOBAL SIGN DEFINITIVE AGREEMENT TO ADVANCE PARAMOUNT AS A WORLD-CLASS MEDIA AND TECHNOLOGY ENTERPRISE |date=July 7, 2024 |access-date=July 8, 2024 }}</ref> If Paramount were to find a better offer, Skydance would be entitled to a $400 million breakup fee payout from the company.<ref>{{Cite web |last=Spangler |first=Todd |url=https://variety.com/2024/tv/news/paramount-skydance-400-million-breakup-fee-better-offer-1236062266/ |title=Paramount Global Will Pay Skydance $400 Million Breakup Fee if It Lands a Better Offer |date=July 8, 2024 |website=Variety |access-date=July 8, 2024 }}</ref> Skydance's executive team supported the potential sale of several Paramount assets which were deemed "not strategic" to their plans, including BET and others.<ref>{{Cite web |last=Huston |first=Caitlin |url=https://www.hollywoodreporter.com/business/business-news/skydance-paramount-selling-off-some-assets-1235940753/ |title=Skydance Team Would "Be Supportive Of" Paramount Selling Off Some Assets |date=July 8, 2024 |website=[[The Hollywood Reporter]] |access-date=July 8, 2024 }}</ref> In August 2024, Paramount announced it would lay off 15% of its U.S. workforce, amounting to about 2,000 employees. The cuts came as a result of a $6 billion write-down on its cable TV networks.<ref>{{Cite web |last=Spangler |first=Todd |date=2024-08-08 |title=Paramount to Lay Off 15% U.S. Workforce, About 2,000 Employees, in Fresh Round of Cuts |url=https://variety.com/2024/tv/news/paramount-layoffs-15-percent-1236100607/ |access-date=2024-08-09 |website=Variety |language=en-US}}</ref> This included the shutdown of [[Paramount Television Studios]].<ref>{{Cite web |last=James |first=Meg |date=2024-08-13 |title=Paramount shutters television studio, begins major layoffs ahead of Skydance merger |url=https://www.latimes.com/entertainment-arts/business/story/2024-08-13/paramounts-huge-layoffs-begin-nearly-2-000-employees-targeted-in-cuts |access-date=2024-08-14 |website=Los Angeles Times |language=en-US}}</ref><ref>{{cite web|title=Paramount Television Studios Shutting Down Amid Cutbacks|first=Nellie|last=Andreeva|date=13 August 2024|access-date=13 August 2024|work=Deadline Hollywood|url=https://deadline.com/2024/08/paramount-television-studios-shut-down-1236038486/}}</ref> The following month, Paramount sold Vidcon to UK firm [[Informa]].<ref>{{cite web|url=https://www.thewrap.com/paramount-sells-vidcon-convention-informa/|title= Paramount Sells VidCon Creator Conference to UK Firm Informa|work=The Wrap|first=Sharon|last=Knolle|date= 2 September 2024|access-date=19 September 2024}}</ref> ==Company units== {{Main list|list of assets owned by Paramount Global|list of libraries owned by Paramount Global}} Paramount Global comprises seven major units: * '''[[Paramount Pictures Corporation]]''', the company's namesake division consist of Paramount Studio Group (physical studio and post-production), production facilities & lot, and archives for restoration and preservation programs for [[Paramount Home Entertainment|Paramount]] and [[CBS Home Entertainment]] and [[Paramount Music|Music]]. Viacom Digital Studios<ref>{{Cite web |title=Going Viral: How Viacom Digital Studios International Churns Out Global Hits {{!}} Paramount |url=https://www.paramount.com/news/going-viral-how-viacom-digital-studios-international-churns-out-global-hits |access-date=2024-09-23 |website=www.paramount.com |language=en}}</ref> consists of digital online and video internet properties including [[Awesomeness (company)|Awesomeness]].<ref>{{cite web |last=James |first=Meg |date=November 10, 2019 |title=Viacom reorganizes creative team in advance of CBS merger |url=https://www.latimes.com/entertainment-arts/business/story/2019-11-10/viacom-cbs-management-mccarthy-nevins-robbins |url-status=live |archive-url=https://web.archive.org/web/20210102213051/https://www.latimes.com/entertainment-arts/business/story/2019-11-10/viacom-cbs-management-mccarthy-nevins-robbins |archive-date=January 2, 2021 |access-date=December 27, 2019 |work=[[Los Angeles Times]]}}</ref> ** '''Paramount Motion Picture Group''' focuses on theatrical [[production company|film production]] and distribution, including film releases under the [[Paramount Animation]], [[Paramount Players]], and [[Republic Pictures]], [[Miramax]] (49%) labels in addition to the flagship Paramount Pictures label. Other assets include [[Republic Pictures]].<ref>{{cite web |last=Donnelly |first=Matt |date=March 24, 2023 |title=Paramount Global Revives Republic Pictures, Historic Home to John Wayne and Orson Welles, as Acquisition Label (EXCLUSIVE) |url=https://variety.com/2023/film/news/paramount-global-revives-republic-pictures-1235563417/ |website=Variety}}</ref> ** '''Paramount Television Group''' focuses on its TV production facilities such as [[CBS Studios]], [[Nickelodeon Animation Studio]] and [[MTV Entertainment Studios]]. * '''[[CBS Entertainment]]''' consists of CBS-branded assets including the [[CBS]] television network, [[CBS News]] and [[CBS News and Stations|Stations]], [[CBS Sports]], [[CBS Studios]], [[CBS Media Ventures]], and [[Big Ticket Television]]. It also has a 12.5% ownership stake in [[The CW|The CW Television Network]]. In addition, the group consists of the [[BET Networks|BET Media Group]], which contains cable television channels including the flagship service [[BET]] and [[VH1]]. * '''[[CBS Sports]]''' is the brand name used for sports-related divisions of the company. * '''[[Paramount Media Networks]]''' encompasses the pay television channels owned by Paramount in the United States such as [[MTV]], [[Nickelodeon]], [[Showtime (TV network)|Paramount+ with Showtime]], [[Comedy Central]], [[TV Land]], [[Paramount Network]], [[Logo TV|Logo]], [[CMT (American TV channel)|CMT]], [[Pop (American TV channel)|Pop TV]], [[Smithsonian Channel]], [[The Movie Channel]] and [[Flix (TV network)|Flix]]. * '''[[Paramount International Networks]]''' encompasses certain international versions of their television channels split into three regional hubs: [[Paramount Networks UK & Australia|United Kingdom and Australia]], [[Paramount Networks EMEAA|Europe, Middle East, Africa and Asia (EMEAA)]], and [[Paramount Networks Americas|the Americas]], as well as region-specific networks (such as [[Channel 5 (British TV channel)|Channel 5]] in the United Kingdom, [[Network 10]] in Australia, [[Telefe]] in Argentina, and [[Chilevisión]] in Chile. It also co-owns all CBS-branded channels across Europe with [[AMC Networks International]]. * '''[[Paramount Streaming]]''' focuses on the global over-the-top streaming services that encompasses [[Paramount+]], [[Pluto TV]], [[SkyShowtime]] (50% with [[Comcast]] through [[Sky Group]]), [[CBS News 24/7]], [[CBS Sports HQ]], and an undisclosed stake in [[FuboTV]], which it acquired in 2020.<ref>{{Cite web |last=Szalai |first=Georg |date=December 29, 2020 |title=How ViacomCBS Has Sharpened Its Focus on Streaming Via Deals |url=https://www.hollywoodreporter.com/business/business-news/how-viacomcbs-has-sharpened-its-focus-on-streaming-via-deals-4108254/ |url-status=live |archive-url=https://web.archive.org/web/20220414205036/https://www.hollywoodreporter.com/business/business-news/how-viacomcbs-has-sharpened-its-focus-on-streaming-via-deals-4108254/ |archive-date=April 14, 2022 |access-date=February 16, 2022 |website=The Hollywood Reporter}}</ref> * '''Paramount Consumer Products and Experiences''' focuses on the retailing and licensing of merchandising for Paramount-owned brands. It consists of [[Paramount Consumer Products]] and some theme parks.<ref>{{Cite press release |last=Corporation |first=C. B. S. |title=CBS Corporation Announces Launch Of CBS Experiences (CBSX), A New Live And Experiential Events Division |url=https://www.prnewswire.com/news-releases/cbs-corporation-announces-launch-of-cbs-experiences-cbsx-a-new-live-and-experiential-events-division-300664895.html |access-date=2023-09-19 |website=www.prnewswire.com |language=en}}</ref> ==Leadership== {{Col-begin}} {{Col-2}} ; Board of Directors<ref name="L&E">{{Cite web |title=Leadership |url=https://www.paramount.com/about/leadership |website=Paramount |access-date=April 14, 2024 }}</ref> * [[Shari Redstone]] (Non-Executive Chair) * Barbara M. Byrne * Linda M. Griego * Robert N. Klieger * [[Judith McHale]] * [[Dawn Ostroff]] * [[Charles Phillips (businessman)|Charles E. Phillips, Jr.]] * Susan Schuman * [[Nicole Seligman]] * Frederick O. Terrell {{col-2}} ; Executives<ref name="L&E" /> ;;Office of the CEO * George Cheeks, President and CEO, [[CBS]] and Chief Content Officer, News and Sports, [[Paramount+]] * [[Chris McCarthy (executive)|Chris McCarthy]], President and CEO, [[Showtime Networks|Showtime]]/[[MTV Entertainment Studios]] and [[Paramount Media Networks]] * [[Brian Robbins]], President and CEO, [[Paramount Pictures]] and [[Nickelodeon]]; and Chief Content Officer, Movies & Kids & Family, [[Paramount+]] {{Col-end}} ==References== {{Reflist}} ==External links== {{Commons category}} * {{Official website}} {{Finance links | name = Paramount Global Class A | symbol = PARAA | reuters = PARAA.O | bloomberg = PARAA:US | sec_cik = 813828 | yahoo = PARAA | google = PARAA:NASDAQ }} {{Finance links | name = Paramount Global Class B | symbol = PARA | reuters = PARA.O | bloomberg = PARA:US | sec_cik = 813828 | yahoo = PARA | google = PARA:NASDAQ }} {{Paramount Global}} {{National Amusements}} {{authority control|state=expanded}} [[Category:Paramount Global| ]] [[Category:2019 establishments in New York City]] [[Category:American companies established in 2019]] [[Category:Companies based in Manhattan]] [[Category:Companies based in New York City]] [[Category:Companies listed on the Nasdaq]] [[Category:Entertainment companies based in New York City]] [[Category:Entertainment companies established in 2019]] [[Category:Mass media companies based in New York City]] [[Category:Mass media companies established in 2019]] [[Category:Multinational companies based in New York City]] [[Category:Publicly traded companies based in New York City]] [[Category:Announced mergers and acquisitions]]'