Paramount is controlled by the Skydance Investor Group, led by chief executive David Ellison, after Skydance Media completed its merger with the former Paramount Global in August 2025.
Paramount built its reputation as one of the oldest and most storied Hollywood studios, home to franchises like Star Trek, Mission Impossible, and Transformers, alongside CBS and a wide cable network portfolio.
Skydance, the production company David Ellison founded in 2010, bought out National Amusements, the Redstone family holding company that had controlled Paramount for generations.
So how did a production company founded barely fifteen years ago end up running one of the founding studios of Hollywood.
This guide will explore how the Skydance merger came together, who actually controls the combined company, its pending Warner Bros Discovery deal, and what it means for Paramount future.
So let us get started.
Table of Contents
Who Owns Paramount Right Now
Paramount Skydance Corporation controls the studio, following the completed merger between Skydance Media and the former Paramount Global. Current releases are listed on the official Paramount website.
The Skydance Investor Group owns 100 percent of Paramount Skydance Class A shares and roughly 69 percent of outstanding Class B shares, giving it firm voting control over the combined company.
David Ellison serves as chairman and chief executive of Paramount Skydance Corporation, overseeing the studio alongside its CBS broadcast and cable network businesses.
How David Ellison And Skydance Took Control
David Ellison founded Skydance Media in 2010, initially focusing on financing and producing big budget films in partnership with established studios.
Skydance agreed to buy out National Amusements, the Redstone family company that had controlled Paramount for decades, with the merger finally completing on August 7, 2025.
Larry Ellison, David father and Oracle founder, personally guaranteed roughly 46.7 billion dollars toward the broader deal, a level of financial backing that made the acquisition possible, according to NPR reporting on the deal.
What The Merger Brought Under One Roof
The combined Paramount Skydance now controls Paramount Pictures, Paramount Television, CBS, CBS News, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount Plus, and Pluto TV.
Skydance own production divisions in film, television, interactive gaming, and sports also folded into the newly merged organization.
Our guide to who owns CBS covers how that specific broadcast network fits inside the much larger combined Paramount Skydance portfolio.
Skydance had previously produced major films in partnership with Paramount itself before the merger, including entries in the Mission Impossible and Top Gun franchises, giving Ellison firsthand experience with the studio operations long before he took control of it.
The Pending Warner Bros Discovery Merger
As of August 2026, Paramount Skydance is pursuing an even larger acquisition of Warner Bros Discovery, a deal that would bring HBO, CNN, and the Warner Bros film studio under Ellison control.
Warner Bros Discovery shareholders approved the roughly 110 billion dollar merger in April 2026, though the deal continues facing regulatory scrutiny and legal challenges as of this writing.
David Ellison has publicly discussed potentially relocating Paramount operations out of California if state level disputes tied to the merger are not resolved.
Paramount Plus Streaming Strategy
Paramount Plus, the company direct to consumer streaming service, bundles content from Paramount Pictures, CBS, Nickelodeon, MTV, and Comedy Central into a single subscription.
That streaming service has become an increasingly important growth priority for the combined company, especially as traditional cable subscriptions continue declining industry wide.
Executives have signaled that Paramount Plus could eventually integrate with Showtime and other premium content as the company continues consolidating its various streaming offerings under Ellison leadership.
Paramount Compared To Other Media Conglomerates
Paramount competes against Disney, Comcast NBCUniversal, and Fox Corporation for both viewers and valuable sports and entertainment content licensing deals. Our guide to who owns Fox News covers how a rival media company structures its own family controlled ownership.
Unlike Fox Corporation, which the Murdoch family controls through a dual class voting structure, Paramount Skydance ownership flows through the Skydance Investor Group rather than a single founding family retaining generational control.
These different ownership models across major media companies shape everything from content strategy to how quickly each company can pursue large acquisitions like the pending Warner Bros Discovery deal.
That prior working relationship gave Ellison a level of credibility with Paramount own executives and creative talent that helped smooth the transition once the merger officially closed.
Is Paramount Really Good Or Really Worth It
Paramount remains a major Hollywood studio with valuable franchises and a deep film library, according to Variety coverage of the merger, giving it significant leverage in licensing and streaming negotiations.
Common criticism following the Skydance merger centers on media consolidation concerns, along with questions about editorial independence at CBS News under the new ownership structure.
Industry analysts frequently note that combining Paramount with Warner Bros Discovery, if the deal closes, would create one of the largest entertainment companies in the world, rivaling Disney and Comcast in scale.
For film and television fans, Paramount deep library and active franchise slate remain a major draw regardless of the ongoing corporate consolidation happening behind the scenes.
For anyone tracking media industry consolidation, the pending Warner Bros Discovery deal represents one of the most significant entertainment mergers in recent history.
Paramount Pictures itself traces back to 1912, making it one of the oldest continuously operating film studios in Hollywood history, long predating both the Redstone and Ellison eras of ownership.
Its famous mountain logo remains one of the most recognizable symbols in entertainment, a piece of brand history that Ellison has publicly said he intends to preserve even as the company changes hands.
Preserving that legacy branding while modernizing the business is a balancing act every new owner of a century old studio eventually has to manage.
How well that balance is struck will likely shape Paramount public reputation for years to come, regardless of who technically holds the largest ownership stake.
Investors and longtime fans alike are watching closely to see how the studio evolves next.
That answer will likely take shape over the next several years as the Warner Bros Discovery deal plays out one way or another.
Frequently Asked Questions About Paramount
Is Paramount Still Controlled By The Redstone Family?
No. Skydance bought out National Amusements, the Redstone family holding company, as part of the August 2025 merger.
Who Runs Paramount Today?
David Ellison serves as chairman and chief executive of Paramount Skydance Corporation.
Is Paramount Trying To Buy Warner Bros Discovery?
Yes. As of 2026, Paramount Skydance is pursuing a roughly 110 billion dollar merger with Warner Bros Discovery, though the deal faces regulatory challenges.
Does Paramount Still Own CBS?
Yes. CBS remains part of the Paramount Skydance portfolio following the 2025 merger.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.