Editing Paramount Pictures (section)

==History==
===Famous Players Film Company===
{{Main|Famous Players Film Company}}

{{Paramount evolution}}
Paramount is the sixth oldest surviving film studio in the world; after [[Gaumont Film Company]] (1895), [[Pathé]] (1896), [[Titanus]] (1904), [[Nordisk Film]] (1906), and [[Universal Pictures]] (1912). It is the last [[major film studio]] still headquartered in the [[Hollywood, Los Angeles|Hollywood]] district of [[Los Angeles]].<ref name="Bingen_Page_8" />

[[File:Paramount logo 1914.jpg|thumb|upright=0.9|left|Paramount Pictures' first logo, with 24 stars, based on a design by its co-founder [[William Wadsworth Hodkinson]], used from 1914 to 1969]]
Paramount Pictures dates its existence from the 1912 founding date of the [[Famous Players Film Company]]. Hungarian-born founder [[Adolph Zukor]], who had been an early investor in [[nickelodeon movie theatre|nickelodeons]], saw that movies appealed mainly to working-class immigrants.<ref name="TIMWU2010">{{cite book |url=https://books.google.com/books?id=iM6sos2U554C |title=The Master Switch: The Rise and Fall of Information Empires – Tim Wu – Google Books |date=November 2, 2010 |isbn=9780307594655 |access-date=June 17, 2015 |last1=Wu |first1=Tim |publisher=Knopf Doubleday Publishing |archive-date=March 9, 2021 |archive-url=https://web.archive.org/web/20210309155658/https://books.google.com/books?id=iM6sos2U554C |url-status=live }}</ref> With partners [[Daniel Frohman]] and [[Charles Frohman]] he planned to offer feature-length films that would appeal to the middle class by featuring the leading theatrical players of the time (leading to the slogan "Famous Players in Famous Plays"). By mid-1913, Famous Players had completed five films, and Zukor was on his way to success. Its first film was ''[[Les Amours de la reine Élisabeth]]'', which starred [[Sarah Bernhardt]].

That same year, another aspiring producer, [[Jesse L. Lasky]], opened his Lasky Feature Play Company with money borrowed from his brother-in-law, Samuel Goldfish, later known as [[Samuel Goldwyn]]. The Lasky company hired as their first employee a stage director with virtually no film experience, [[Cecil B. DeMille]], who would find a suitable site in Hollywood. This place was a rented old horse barn converted into a production facility with an enlarged open-air stage located between [[Vine Street]], Selma Avenue, Argyle Avenue and [[Sunset Boulevard]]. It was later known as the [[Lasky-DeMille Barn]].<ref>{{cite book |last=Wertheim |first=Arthur Frank |author1-link=Arthur Frank Wertheim |title=The Silent Movies of W. C. Fields: How They Created The Basis for His Fame in Sound Films |date=2020 |publisher=BearManor Media |location=Albany, Georgia |url=https://books.google.com/books?id=bpApEAAAQBAJ&dq=lasky+1926+marathon+street&pg=PT242 |access-date=January 22, 2022 |language=en-US |archive-date=March 19, 2022 |archive-url=https://web.archive.org/web/20220319083253/https://books.google.com/books?id=bpApEAAAQBAJ&dq=lasky+1926+marathon+street&pg=PT242 |url-status=live }}</ref> In 1914, their first feature film, ''[[The Squaw Man (1914 film)|The Squaw Man]]'' was released.

On May 8, 1914, Paramount Pictures Corporation (previously known as Progressive Pictures) was founded by a Utah theatre owner, [[W. W. Hodkinson]], who had bought and merged five smaller firms.<ref>{{cite web |last=Aberdeen |first=J.A. |title=W. W. Hodkinson: The Man Who Invented Hollywood |url=https://www.cobbles.com/simpp_archive/hodkinson_system.htm |website=Society of Independent Motion Picture Producers (SIMPP) |access-date=January 10, 2022 |language=en-US |archive-date=January 10, 2022 |archive-url=https://web.archive.org/web/20220110115321/https://www.cobbles.com/simpp_archive/hodkinson_system.htm |url-status=live }}</ref> On May 15, 1914, Hodkinson signed a five-year contract with the Famous Players Film Company, the Lasky Company and Bosworth, Inc. to distribute their films.<ref>{{cite journal |last=Quinn |first=Michael J. |title=Paramount and Early Feature Distribution: 1914–1921 |journal=Film History |date=1999 |volume=11 |issue=1 |pages=98–113 |url=https://www.jstor.org/stable/3815260 |access-date=January 10, 2022 |publisher=Indiana University Press |jstor=3815260 |language=en-US |archive-date=January 10, 2022 |archive-url=https://web.archive.org/web/20220110124549/https://www.jstor.org/stable/3815260?read-now=1&refreqid=excelsior:e05e8c0a1ca13314092ff13edd53b7ba&seq=3#page_scan_tab_contents |url-status=live }}</ref> Actor, director and producer [[Hobart Bosworth]] had started production of a series of [[Jack London]] movies. Paramount was the first successful nationwide distributor; until this time, films were sold on a statewide or regional basis, which had proved costly to film producers. Also, Famous Players and Lasky were privately owned while Paramount was a corporation.

===Famous Players–Lasky===
{{Main|Famous Players–Lasky}}

In 1916, Zukor engineered a three-way merger of his Famous Players, the Lasky Company, and Paramount. Zukor and Lasky bought Hodkinson out of Paramount, and merged the three companies into one. The new company Lasky and Zukor founded on June 28, '''[[Famous Players–Lasky]] Corporation''', although it continued to use the name "Paramount", as well. As a result, it became the largest film company at the time with a value of {{US$|12.5|link=yes}}{{nbsp}}million (equivalent to ${{Inflation|US-GDP|12.5|1916|r=1}}{{nbsp}}million in {{Inflation/year|US-GDP}}).<ref>{{Cite news|date=June 29, 1916|title=$12,500,000 MERGER OF FILM COMPANIES; Famous Players and Jesse L. Lasky Feature Unite in a New Corporation. ADOLPH ZUKOR, PRESIDENT Consolidate to Meet Present Conditions;- 84 Pictures a Year to be Distributed by Paramount.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1916/06/29/archives/12500000-merger-of-film-companies-famous-players-and-jesse-l-lasky.html|access-date=August 26, 2020|issn=0362-4331|archive-date=November 10, 2021|archive-url=https://web.archive.org/web/20211110131413/https://www.nytimes.com/1916/06/29/archives/12500000-merger-of-film-companies-famous-players-and-jesse-l-lasky.html|url-status=live}}</ref> The corporation was able to grow quickly, with Lasky and his partners Goldwyn and DeMille running the production side, Hiram Abrams in charge of distribution, and Zukor making great plans. With only the exhibitor-owned [[First National Pictures|First National]] as a rival, Famous Players–Lasky and its "Paramount Pictures" soon dominated the business.<ref>{{Cite news|url=http://www.history.com/this-day-in-history/lasky-company-merges-with-famous-players-later-to-become-paramount|title=Lasky Company merges with Famous Players, later to become Paramount – Jun 28, 1916 – HISTORY.com|work=HISTORY.com|access-date=August 10, 2017|archive-date=August 10, 2017|archive-url=https://web.archive.org/web/20170810170251/http://www.history.com/this-day-in-history/lasky-company-merges-with-famous-players-later-to-become-paramount|url-status=live}}</ref> The fusion was finalized on November 7, 1916.<ref>{{cite book |title=Federal Trade Commission Decisions, Volume 11 |date=1930 |publisher=United States. Federal Trade Commission |location=Washington, D. C. |page=202 |url=https://books.google.com/books?id=DQw9V6KsgGgC&dq=paramount+1914+may+15&pg=PA202 |access-date=January 10, 2022 |language=en-US |archive-date=March 19, 2022 |archive-url=https://web.archive.org/web/20220319083254/https://books.google.com/books?id=DQw9V6KsgGgC&dq=paramount+1914+may+15&pg=PA202 |url-status=live }}</ref>

[[File:GrangeLasky-DeMille1913.jpg|thumb|left| Lasky's original studio (a.k.a. "The Barn") as it appeared in the mid-1920s. The Taft building, built in 1923, is visible in the background.]]
Because Zukor believed in stars, he signed and developed many of the leading early stars, including [[Mary Pickford]], [[Marguerite Clark]], [[Pauline Frederick]], [[Douglas Fairbanks]], [[Gloria Swanson]], [[Rudolph Valentino]], and [[Wallace Reid]]. With so many important players, Paramount was able to introduce "[[block booking]]", which meant that an exhibitor who wanted a particular star's films had to buy a year's worth of other Paramount productions. It was this system that gave Paramount a leading position in the 1920s and 1930s, but which led the government to pursue it on [[antitrust]] grounds for more than twenty years.<ref>{{Cite web|url=http://www.cobbles.com/simpp_archive/ftc-case_into.htm|title=The Famous Players–Lasky Antitrust Case|website=www.cobbles.com|access-date=August 10, 2017|archive-date=August 6, 2017|archive-url=https://web.archive.org/web/20170806062645/http://www.cobbles.com/simpp_archive/ftc-case_into.htm|url-status=live}}</ref>

By the mid-1920s, the old Lasky-DeMille barn property was not big enough to handle all of the studios' West Coast productions.<ref>{{cite book |last1=Stephens |first1=E.J. |last2=Christaldi |first2=Michael |last3=Wanamaker |first3=Marc |title=Early Paramount Studios |date=2013 |publisher=Arcadia Publishing |location=Mount Pleasant, South Carolina |page=56 |isbn=9781439643679 |url=https://books.google.com/books?id=hw07BAAAQBAJ&dq=Robert+Brunton+Studios+1926+hollywood+new+york+times&pg=PA54 |access-date=January 22, 2022 |language=en-US |archive-date=March 19, 2022 |archive-url=https://web.archive.org/web/20220319083255/https://books.google.com/books?id=hw07BAAAQBAJ&dq=Robert+Brunton+Studios+1926+hollywood+new+york+times&pg=PA54 |url-status=live }}</ref> On January 5, 1926, Lasky reached an agreement to buy the Robert Brunton Studios, a 26-acre facility owned by United Pictures and located at 5451 Marathon Street, for $1.0{{nbsp}}million (equivalent to ${{Inflation|US-GDP|1|1926|r=1}}{{nbsp}}million in {{Inflation/year|US-GDP}}).<ref>{{cite web |url=http://www.paramount.com/node/7664 |title=1926: THE NEW STUDIO &#124; Paramount Pictures |publisher=Paramount.com |access-date=October 28, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20111114001735/http://www.paramount.com/node/7664 |archive-date=November 14, 2011}}</ref> On March 29, the company began an eight-month building program to renovate the existing facilities and erect new ones.<ref>{{cite web |title=Paramount Pictures. Historic Assessment Technical Report (Appendix F) |url=https://planning.lacity.org/eir/Paramount/FEIR/files/App_F.pdf |publisher=Los Angeles City Planning |access-date=January 22, 2022 |location=Los Angeles, California |page=19 |language=en-US |archive-date=January 22, 2022 |archive-url=https://web.archive.org/web/20220122153034/https://planning.lacity.org/eir/Paramount/FEIR/files/App_F.pdf |url-status=live }}</ref> On May 8, Lasky finally moved operations from the Sunset and Vine lot to the new building. At present, those facilities are still part of the Paramount Pictures headquarters. Zukor hired independent producer [[B. P. Schulberg]], an unerring eye for new talent, to run the new West Coast operations.

[[File:Spanish Paramount logo (Distribuida Pela Paramount), circa 1929.ogv|thumb|left|The logo, with Portuguese captions: ''Distribuida Pela Paramount''.]]
On April 1, 1927, the company name was changed to '''Paramount Famous Lasky Corporation'''.<ref>{{cite book |last1=McDonald |first1=Paul |last2=Carman |first2=Emily |last3=Hoyt |first3=Eric |last4=Drake |first4=Philip |title=Hollywood and the Law |date=2019 |publisher=Bloomsbury Publishing |location=London |isbn=9781838716196 |url=https://books.google.com/books?id=bwn8DwAAQBAJ&dq=Paramount+Famous+Lasky+Corporation+1927+april+change&pg=PT172 |access-date=January 9, 2022 |language=en-UK |archive-date=March 19, 2022 |archive-url=https://web.archive.org/web/20220319083256/https://books.google.com/books?id=bwn8DwAAQBAJ&dq=Paramount+Famous+Lasky+Corporation+1927+april+change&pg=PT172 |url-status=live }}</ref> In September 1927, the Paramount Famous Lasky Corporation studio in Astoria (New York City) was temporarily closed with the objective of equipping it with the technology for the production of [[sound film]]s.<ref name="SilentEra">{{cite web| url=http://www.silentera.com/PSFL/companies/F/famousPlayersLaskyCorp.html| title=Famous Players–Lasky Corporation| publisher=SilentEra.com| access-date=April 16, 2009| archive-date=March 29, 2009| archive-url=https://web.archive.org/web/20090329114122/http://www.silentera.com/PSFL/companies/F/famousPlayersLaskyCorp.html| url-status=live}}</ref><ref>{{cite web |title=PARAMOUNT STUDIOS, BUILDING N0.1 (MAIN BUILDING) |url=http://s-media.nyc.gov/agencies/lpc/lp/0977.pdf |publisher=New York City Landmarks Preservation Commission |access-date=January 9, 2022 |location=New York City |page=2 |language=en-US |date=March 14, 1978 |archive-date=November 19, 2021 |archive-url=https://web.archive.org/web/20211119020450/http://s-media.nyc.gov/agencies/lpc/lp/0977.pdf |url-status=live }}</ref> In the same year, Paramount began releasing ''[[Inkwell Imps]]'', animated cartoons produced by [[Max Fleischer|Max]] and [[Dave Fleischer]]'s [[Fleischer Studios]] in New York City. The Fleischers, veterans in the animation industry, were among the few animation producers capable of challenging the prominence of [[Walt Disney]]. The Paramount newsreel series [[Paramount News]] ran from 1927 to 1957. Paramount was also one of the first Hollywood studios to release what were known at that time as "talkies", and in 1929, released their first musical, ''[[Innocents of Paris]]''. [[Richard A. Whiting]] and [[Leo Robin]] composed the score for the film; [[Maurice Chevalier]] starred and sang the most famous song from the film, "[[Louise (Maurice Chevalier song)|Louise]]".

====Publix, Balaban and Katz, Loew's competition and wonder theaters====
The driving force behind Paramount's rise was Zukor. He built a chain of nearly 2,000 screens, ran two production studios (in [[Astoria, New York]], now the [[Kaufman Astoria Studios]], and [[Hollywood, California]]), and became an early investor in radio, acquiring for the corporation a 50% interest in the new [[CBS|Columbia Broadcasting System]] in 1928 (selling it within a few years; this would not be the last time Paramount and CBS crossed paths).

By acquiring the successful [[Balaban & Katz]] chain in 1926, Zukor gained the services of [[Barney Balaban]] (who would eventually become Paramount's president in 1936), his brother [[A. J. Balaban]] (who would eventually supervise all stage production nationwide and produce talkie shorts), and their partner Sam Katz (who would run the Paramount-Publix theatre chain in New York City from the thirty-five-story Paramount Theatre Building on [[Times Square]]).

[[File:Publix theatre Indiana Repertory Theatre.jpg|thumb|Detail of Publix Theatre logo on what is now [[Indiana Repertory Theatre]]]]
Balaban and Katz had developed the Wonder Theater concept, first publicized around 1918 in Chicago. The Chicago Theater was created as a very ornate theater and advertised as a "wonder theater". When Publix acquired Balaban, they embarked on a project to expand the wonder theaters, and starting building in New York City in 1927. While Balaban and Public were dominant in Chicago, [[Loew's]] was the big player in New York City, and did not want the Publix theaters to overshadow theirs. The two companies brokered a non-competition deal for New York City and Chicago, and Loew's took over the New York City area projects, developing five [[Loew's Wonder Theaters|wonder theaters]]. Publix continued Balaban's wonder theater development in its home area.<ref>{{cite news |title=The Kings Is Dead! Long Live the Kings! |date=March 11, 2007 |url=https://www.nytimes.com/2007/03/11/realestate/11SCAP.html?pagewanted=all |last=Gray |first=Christopher |access-date=December 9, 2013 |work=The New York Times |department=Real Estate / Streetscapes |archive-date=December 13, 2014 |archive-url=https://web.archive.org/web/20141213095239/http://www.nytimes.com/2007/03/11/realestate/11SCAP.html?pagewanted=all |url-status=live }}</ref>

On April 24, 1930, Paramount-Famous Lasky Corporation became the '''Paramount Publix Corporation'''.<ref>{{cite news |title=PARAMOUNT CHANGES NAME; To Be Known Hereafter as the Paramount Publix Corporation. |url=https://www.nytimes.com/1930/04/25/archives/paramount-changes-name-to-be-known-hereafter-as-the-paramount.html |access-date=January 9, 2022 |work=The New York Times |date=April 25, 1930 |page=20 |language=en-US |archive-date=January 9, 2022 |archive-url=https://web.archive.org/web/20220109215014/https://www.nytimes.com/1930/04/25/archives/paramount-changes-name-to-be-known-hereafter-as-the-paramount.html |url-status=live }}</ref><ref>{{cite book |last1=Blair |first1=John M. |last2=Reeside |first2=Arthur |title=Investigation of Concentration of Economic Power |date=1940 |publisher=U.S. Government Printing Office |location=Washington, D.C. |page=59 |chapter-url=https://books.google.com/books?id=YIRLAQAAMAAJ&dq=paramount+publix+april+1930&pg=RA2-PA59 |access-date=January 9, 2022 |language=en-US |chapter=Appendix I |archive-date=March 19, 2022 |archive-url=https://web.archive.org/web/20220319083257/https://books.google.com/books?id=YIRLAQAAMAAJ&dq=paramount%20publix%20april%201930&pg=RA2-PA59 |url-status=live }}</ref>

===1920s and 1931–40: Receivership and reorganization===
[[File:Paramount Showman's Pictures advertisement 04.jpg|thumb|Paramount Showman's Pictures advertisement, 1925]]
Eventually, Zukor shed most of his early partners; the Frohman brothers, Hodkinson and Goldwyn were out by 1917 while Lasky hung on until 1932, when, blamed for the near-collapse of Paramount in the [[Great Depression]] years, he was also tossed out. In 1931, to solve the financial problems of the company Zukor hired taxi/rental car magnate [[John D. Hertz]] as chairman of the finance committee in order to assist vice-president and [[treasurer]] Ralph A. Kohn.<ref>{{cite news |title=HERTZ AND WRIGLEY TO JOIN PARAMOUNT; Lasker Also to Become a Director of the Movie Corporation, Zukor Announces.TO BE NO REORGANIZATION Yellow Cab, Chewing Gum and Advertising Officials Buy Heavily, Into the Company. Invited to Join Board, Says Zukor. |url=https://www.nytimes.com/1931/10/31/archives/hertz-and-wrigley-to-join-paramount-lasker-also-to-become-a.html |access-date=January 21, 2022 |work=The New York Times |date=October 31, 1931 |page=25 |language=en-US |archive-date=January 21, 2022 |archive-url=https://web.archive.org/web/20220121204711/https://www.nytimes.com/1931/10/31/archives/hertz-and-wrigley-to-join-paramount-lasker-also-to-become-a.html |url-status=live }}</ref> However, on January 6, 1933, Hertz resigned from his position when it become evident that his measures to lift the company had failed.<ref>{{cite news |title=J.D. HERTZ QUITS PARAMOUNT PUBLIX; Finance Chairman Asserts Differences Arose as to His Duties. PRAISE FOR HIS SERVICES Corporation and Kuhn, Loeb & Co., Its Bankers, Voice Regret That He Is Leaving. |url=https://www.nytimes.com/1933/01/07/archives/jd-hertz-quits-paramount-publix-finance-chairman-asserts.html |access-date=January 21, 2022 |work=The New York Times |date=January 7, 1933 |page=21 |language=en-US |archive-date=January 21, 2022 |archive-url=https://web.archive.org/web/20220121204716/https://www.nytimes.com/1933/01/07/archives/jd-hertz-quits-paramount-publix-finance-chairman-asserts.html |url-status=live }}</ref> The over-expansion and use of overvalued Paramount stock for purchases created a $21 million debt which led the company into receivership on January 26, 1933,<ref>{{cite news |title=PARAMOUNT-PUBLIX PUT IN RECEIVERSHIP; Court Acts on Donovan Plea – $29,166 Claim Listed Against $166,000,000 Assets. BOARD DENIES INSOLVENCY Film Concern to Continue Its Business – Publix Enterprises Goes Into Bankruptcy. PARAMOUNT-PUBLIX IS IN RECEIVERSHIP |url=https://www.nytimes.com/1933/01/27/archives/paramountpublix-put-in-receivership-court-acts-on-donovan-plea.html |access-date=January 21, 2022 |work=The New York Times |date=January 27, 1933 |page=1 |language=en-US |archive-date=January 21, 2022 |archive-url=https://web.archive.org/web/20220121134558/https://www.nytimes.com/1933/01/27/archives/paramountpublix-put-in-receivership-court-acts-on-donovan-plea.html |url-status=live }}</ref> and later filing bankruptcy on March 14, 1933.<ref>{{cite news |title=PARAMOUNT PUBLIX FILES AS BANKRUPT; Petition in Federal Court Is Entered With the Consent of Present Equity Receivers. HEARING SET FOR FRIDAY Attorney for the Minority Bondholders Charges Collusion in Previous Action. |url=https://www.nytimes.com/1933/03/15/archives/paramount-publix-files-as-bankrupt-petition-in-federal-court-is.html |access-date=January 21, 2022 |work=The New York Times |date=March 15, 1933 |page=21 |language=en-US |archive-date=January 21, 2022 |archive-url=https://web.archive.org/web/20220121134601/https://www.nytimes.com/1933/03/15/archives/paramount-publix-files-as-bankrupt-petition-in-federal-court-is.html |url-status=live }}</ref> On April 17, 1933, bankruptcy trustees were appointed and Zukor lost control of the company.<ref>{{cite book |title=Congressional Record – Senate |date=February 24, 1936 |publisher=U.S. Government Printing Office |location=Washington, D.C. |page=2670 |url=https://books.google.com/books?id=c4CGNcmu6TkC&dq=adolph+zukor+resign+1933+trustees&pg=PA2670 |access-date=January 21, 2022 |language=en-US |archive-date=March 19, 2022 |archive-url=https://web.archive.org/web/20220319083258/https://books.google.com/books?id=c4CGNcmu6TkC&dq=adolph+zukor+resign+1933+trustees&pg=PA2670 |url-status=live }}</ref><ref>{{cite news |title=PARAMOUNT PUBLIX CASE.; Corporation Must Defend Tomorrow Election of Trustees. |url=https://www.nytimes.com/1933/04/25/archives/paramount-publix-case-corporation-must-defend-tomorrow-election-of.html |access-date=January 21, 2022 |work=The New York Times |date=April 25, 1933 |page=27 |language=en-US |archive-date=January 21, 2022 |archive-url=https://web.archive.org/web/20220121212125/https://www.nytimes.com/1933/04/25/archives/paramount-publix-case-corporation-must-defend-tomorrow-election-of.html |url-status=live }}</ref> The company remained under the control of trustees for more than a year in order to restructure the debt and pursue a reorganization plan.<ref>{{cite news |title=Paramount Trustees Make Application To Proceed With Reorganization Plan |url=https://www.nytimes.com/1934/08/03/archives/paramount-trustees-make-application-to-proceed-with-reorganization.html |access-date=January 21, 2022 |work=The New York Times |date=August 3, 1934 |page=25 |language=en-US |archive-date=January 21, 2022 |archive-url=https://web.archive.org/web/20220121212123/https://www.nytimes.com/1934/08/03/archives/paramount-trustees-make-application-to-proceed-with-reorganization.html |url-status=live }}</ref> On December 3, 1934, the reorganization plan was formally proposed.<ref>{{cite news |title=PARAMOUNT PUBLIX UNITS.; $4,530,000 Earnings for 9 Months Estimated in Court Report. |url=https://www.nytimes.com/1934/12/05/archives/paramount-publix-units-4530000-earnings-for-9-months-estimated-in.html |access-date=January 21, 2022 |work=The New York Times |date=December 5, 1934 |page=42 |language=en-US |archive-date=January 21, 2022 |archive-url=https://web.archive.org/web/20220121135749/https://www.nytimes.com/1934/12/05/archives/paramount-publix-units-4530000-earnings-for-9-months-estimated-in.html |url-status=live }}</ref> After prolonged hearings in court, final confirmation was obtained on April 25, 1935, when Federal Judge [[Alfred Conkling Coxe Jr.|Alfred C. Coxe Jr.]] approved the reorganization of the Paramount-Publix Corporation under Section 77-B of the [[Bankruptcy Act]].<ref>{{cite news |title=PARAMOUNT PUBLIX WINS LEGAL MOVE; Show-Cause Order Is Granted, Indicating Court's Approval of Reorganization Plan. BANK INTEREST CUT TO 5% Loans to Be Paid in Cash, While Other Creditors Accept One-half in Debentures. |url=https://www.nytimes.com/1935/02/01/archives/paramount-publix-wins-legal-move-showcause-order-is-granted.html |access-date=January 21, 2022 |work=The New York Times |date=February 1, 1935 |page=29 |language=en-US |archive-date=January 21, 2022 |archive-url=https://web.archive.org/web/20220121134559/https://www.nytimes.com/1935/02/01/archives/paramount-publix-wins-legal-move-showcause-order-is-granted.html |url-status=live }}</ref><ref>{{cite news |title=PARAMOUNT PUBLIX READY TO REORGANIZE; Judge Coxe Approves Atlas Plan for Underwriting Subscriptions to Warrants. |url=https://www.nytimes.com/1935/04/26/archives/paramount-publix-ready-to-reorganize-judge-coxe-approves-atlas-plan.html |access-date=January 21, 2022 |work=The New York Times |date=April 26, 1935 |page=33 |language=en-US |archive-date=January 21, 2022 |archive-url=https://web.archive.org/web/20220121194730/https://www.nytimes.com/1935/04/26/archives/paramount-publix-ready-to-reorganize-judge-coxe-approves-atlas-plan.html |url-status=live }}</ref>

On June 4, 1935, [[John E. Otterson]]<ref>Eileen S. Quigley. ''International Motion Picture Almanac'', 1938. p. 581.</ref> became president of the re-emerged and newly renamed '''Paramount Pictures Inc.'''<ref>{{cite news |title=PARAMOUNT BOARD ELECTS OTTERSON; Head of the Electric Research Products Made President of New Company. |url=https://www.nytimes.com/1935/06/05/archives/paramount-board-elects-otterson-head-of-the-electric-research.html |access-date=January 9, 2022 |work=The New York Times |date=June 5, 1935 |page=29 |language=en-US |archive-date=January 9, 2022 |archive-url=https://web.archive.org/web/20220109224044/https://www.nytimes.com/1935/06/05/archives/paramount-board-elects-otterson-head-of-the-electric-research.html |url-status=live }}</ref> Zukor returned to the company and was named production chief but after Barney Balaban was appointed president on July 2, 1936, he was soon replaced by [[Y. Frank Freeman]] and symbolically named chairman of the board.<ref>{{cite news |title=FINANCIAL .,, . e 'rm nrk illr . = . . FINANCIAL BALABAN, ZUKOR HEAD PARAMOUNT; Former Elected President of Pictures Corporation; Latter Retained as Chairman. KENNEDY FINISHES STUDY Report Said to Show Theatres' Profit Offset by Results of Film Production Division. |url=https://www.nytimes.com/1936/07/03/archives/financial-e-rm-nrk-illr-financial-balaban-zukor-head-paramount.html |access-date=January 9, 2022 |work=The New York Times |date=July 3, 1936 |page=25 |language=en-US |archive-date=January 9, 2022 |archive-url=https://web.archive.org/web/20220109224545/https://www.nytimes.com/1936/07/03/archives/financial-e-rm-nrk-illr-financial-balaban-zukor-head-paramount.html |url-status=live }}</ref><ref>{{cite book |last=Gomery |first=Douglas |title=The Hollywood Studio System: A History |date=2017 |publisher=Bloomsbury Publishing |location=London |page=88 |isbn=9781349918447 |edition=3rd |url=https://books.google.com/books?id=RcFPEAAAQBAJ&dq=paramount+july+1935+new+york+times+assets&pg=PA88 |access-date=January 21, 2022 |language=en-UK |archive-date=March 19, 2022 |archive-url=https://web.archive.org/web/20220319083259/https://books.google.com/books?id=RcFPEAAAQBAJ&dq=paramount+july+1935+new+york+times+assets&pg=PA88 |url-status=live }}</ref> On August 28, 1935, Paramount Pictures was re-listed on the [[New York Stock Exchange]] and when the company was under Balaban's leadership, the studio was successfully relaunched.<ref>{{cite book |last1=Regev |first1=Ronny |title=Working in Hollywood: How the Studio System Turned Creativity into Labor |date=2018 |publisher=University of North Carolina Press |location=Chapel Hill, North Carolina |page=38 |isbn=9781469637068 |url=https://books.google.com/books?id=80ZwDwAAQBAJ&dq=Barney+Balaban+July+1936&pg=PA38 |access-date=January 9, 2022 |language=en-US |archive-date=March 19, 2022 |archive-url=https://web.archive.org/web/20220319083300/https://books.google.com/books?id=80ZwDwAAQBAJ&dq=Barney%20Balaban%20July%201936&pg=PA38 |url-status=live }}</ref>

[[File:Paramount Pictures ad in The Film Daily, Jan-Jun 1932 (page 192 crop).jpg|thumb|Paramount Pictures ad in ''[[The Film Daily]]'', 1932]]
As always, Paramount films continued to emphasize stars; in the 1920s there were [[Gloria Swanson]], [[Wallace Reid]], [[Rudolph Valentino]], [[Florence Vidor]], [[Thomas Meighan]], [[Pola Negri]], [[Bebe Daniels]], [[Antonio Moreno]], [[Richard Dix]], [[Esther Ralston]], [[Emil Jannings]], [[George Bancroft (actor)|George Bancroft]], [[Betty Compson]], [[Clara Bow]], [[Adolphe Menjou]], and [[Charles Buddy Rogers]]. By the late 1920s and the early 1930s, talkies brought in a range of powerful draws: [[Richard Arlen]], [[Nancy Carroll]], [[Maurice Chevalier]], [[Gary Cooper]], [[Marlene Dietrich]], [[Charles Ruggles]], [[Ruth Chatterton]], [[William Powell]], [[Mae West]], [[Sylvia Sidney]], [[Bing Crosby]], [[Claudette Colbert]], the [[Marx Brothers]], [[W.C. Fields]], [[Fredric March]], [[Jack Oakie]], [[Jeanette MacDonald]] (whose first two films were shot at Paramount's [[Astoria, New York]], studio), [[Carole Lombard]], [[George Raft]], [[Miriam Hopkins]], [[Cary Grant]] and [[Stuart Erwin]], among them.<ref>{{cite book |last=Eames |first=John Douglas |title=The Paramount story |year=1985 |publisher=Crown |location=New York City |isbn=0-517-55348-1 |page=37 |edition=[1st ed.].}}</ref> In this period Paramount can truly be described as a movie factory, turning out sixty to seventy pictures a year. Such were the benefits of having a huge theater chain to fill, and of block booking to persuade other chains to go along. In 1933, [[Mae West]] would also add greatly to Paramount's success with her suggestive movies ''[[She Done Him Wrong]]'' and ''[[I'm No Angel]]''.<ref>{{cite web |url=http://www.filmsite.org/shed.html |title=Filmsite.org |publisher=Filmsite.org |access-date=January 7, 2010 |archive-date=July 23, 2010 |archive-url=https://web.archive.org/web/20100723214011/http://www.filmsite.org/shed.html |url-status=live }}</ref><ref>{{cite web |url=http://www.filmsite.org/imno.html |title=Filmsite.org |publisher=Filmsite.org |access-date=January 7, 2010 |archive-date=January 25, 2010 |archive-url=https://web.archive.org/web/20100125082721/http://www.filmsite.org/imno.html |url-status=live }}</ref> However, the sex appeal West gave in these movies would also lead to the enforcement of the [[Production Code]], as the newly formed organization the [[Catholic Legion of Decency]] threatened a boycott if it was not enforced.<ref>{{cite web |url=http://www.mae-west.org/old/mw.bio.html |title=Mae-West.org |publisher=Mae-West.org |access-date=January 7, 2010 |archive-date=February 18, 2009 |archive-url=https://web.archive.org/web/20090218214412/http://mae-west.org/old/mw.bio.html |url-status=live }}</ref>
Paramount cartoons produced by Fleischer Studios continued to be successful, with [[Character (arts)|characters]] such as [[Betty Boop]] and [[Popeye the Sailor]] becoming widely successful. One Fleischer series, ''[[Screen Songs]]'', featured live-action music stars under contract to Paramount hosting sing-alongs of popular songs. The animation studio would rebound with [[Popeye]], and in 1935, polls showed that Popeye was even more popular than [[Mickey Mouse]].<ref>{{cite web |url=http://forums.goldenagecartoons.com/showthread.php?t=2907 |title=Forums.GoldenAgeCartoons.com |publisher=Forums.GoldenAgeCartoons.com |access-date=January 7, 2010 |url-status=dead |archive-url=https://web.archive.org/web/20110711104313/http://forums.goldenagecartoons.com/showthread.php?t=2907 |archive-date=July 11, 2011}}</ref> After an unsuccessful expansion into feature films, as well as the fact that Max and Dave Fleischer were no longer speaking to one another, Fleischer Studios was acquired by Paramount, which renamed the operation [[Famous Studios]]. That incarnation of the animation studio continued cartoon production until 1967, but has been historically dismissed as having largely failed to maintain the artistic acclaim the Fleischer brothers achieved under their management.<ref>{{cite book |last=Maltin |first=Leonard |title=Of Mice and Magic |year=1987 |orig-year=1980 |publisher=Plume |location=New York City |page=311}}</ref>

===1941–50: ''United States v. Paramount Pictures, Inc.''===
In 1940, Paramount agreed to a government-instituted consent decree: block booking and "pre-selling" (the practice of collecting up-front money for films not yet in production) would end. Immediately, Paramount cut back on production, from 71 films to a more modest 19 annually in the war years.<ref>{{cite book |last=Eames |first=John Douglas |title=The Paramount Story |year=1985 |publisher=Crown Publishers, Inc |location=New York City |isbn=0-517-55348-1 |page=115}}</ref> Still, with more new stars like [[Bob Hope]], [[Alan Ladd]], [[Veronica Lake]], [[Paulette Goddard]], and [[Betty Hutton]], and with war-time attendance at astronomical numbers, Paramount and the other integrated studio-theatre combines made more money than ever. At this, the [[Federal Trade Commission]] and the [[United States Department of Justice|Justice Department]] decided to reopen their case against the five integrated studios. Paramount also had a monopoly over [[Detroit]] movie theaters through subsidiary company United Detroit Theaters.<ref>{{cite web |url=http://www.cobbles.com/simpp_archive/united-detroit_paramount-history.htm |series=SIMPP v. Paramount Theatres |title=The Paramount Theater Monopoly: The History of United Detroit Theaters |publisher=Cobbles.com |access-date=January 7, 2010 |archive-date=October 31, 2006 |archive-url=https://web.archive.org/web/20061031065238/http://www.cobbles.com/simpp_archive/united-detroit_paramount-history.htm |url-status=live }}</ref> This led to the [[Supreme Court of the United States|Supreme Court]] decision ''[[United States v. Paramount Pictures, Inc.]]'' (1948) holding that movie studios could not also own movie theater chains. This decision broke up Adolph Zukor's creation, with the theater chain being split into a new company, [[United Paramount Theaters]], and effectively brought an end to the classic Hollywood [[studio system]].

===1951–66: Split and after===
With the separation of production and exhibition forced by the U.S. Supreme Court, Paramount Pictures Inc. was split in two.<ref name="Nelmes">{{cite book |last=Nelmes |first=Jill |title=An Introduction to Film Studies |publisher=Routledge |year=2003 |edition=3 |page=16 |isbn=0-415-26268-2}}</ref> Paramount Pictures Corporation was formed to be the production distribution company, with the 1,500-screen theater chain handed to the new [[United Paramount Theaters]] on December 31, 1949. [[Leonard Goldenson]], who had headed the chain since 1938, remained as the new company's president. The Balaban and Katz theatre division was spun off with UPT; its trademark eventually became the property of the Balaban and Katz Historical Foundation. The foundation later acquired ownership of the Famous Players trademark. Cash-rich and controlling prime downtown real estate, Goldenson began looking for investments. Barred from film-making by prior antitrust rulings, he acquired the struggling [[American Broadcasting Company|ABC]] television network in February 1953, leading it first to financial health, and eventually, in the mid-1970s, to first place in the national Nielsen ratings, before selling out to [[Capital Cities Communications|Capital Cities]] in 1985 (Capital Cities would eventually sell out, in turn, to [[The Walt Disney Company]] in 1996). United Paramount Theaters was renamed ABC Theaters in 1965 and was sold to businessman Henry Plitt in 1977. The movie theater chain was renamed Plitt Theaters. In 1985, [[Cineplex Odeon Corporation]] merged with Plitt. In later years, Paramount's television division would develop a strong relationship with ABC, providing many hit series to the network.

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

In 1938, Paramount bought a stake in television manufacturer [[DuMont Laboratories]]. Through this stake, it became a minority owner of the [[DuMont Television Network]].<ref name="Hess1">{{cite book |last=Hess |first=Gary Newton |title=An Historical Study of the DuMont Television Network |publisher=Arno Press |location=New York City |year=1979 |page=91 |isbn=0-405-11758-2}}</ref> Paramount also launched its own network, [[Paramount Television Network]], in 1948 through its television unit, Television Productions, Inc.<ref name="Schatz">{{cite book |last=Schatz |first=Thomas |title=Boom and Bust: American Cinema in the 1940s |publisher=University of California Press |year=1999 |page=433 |isbn=0-520-22130-3}}</ref>

Paramount management planned to acquire additional [[owned-and-operated station]]s ("O&Os"); the company applied to the FCC for additional stations in San Francisco, Detroit, and Boston.<ref name="Browne">{{cite book|last=Browne|first=Nick|title=American Television: New Directions in History and Theory|publisher=Routledge|year=1994|page=32|isbn=3-7186-0563-5|url=https://books.google.com/books?id=yuU72DJI97UC&q=%22Paramount%20Pictures%22%2B%22FCC%22%2B%22San%20Francisco%22&pg=PA32|access-date=April 9, 2010|archive-date=January 25, 2021|archive-url=https://web.archive.org/web/20210125224023/https://books.google.com/books?id=yuU72DJI97UC&q=%22Paramount%20Pictures%22%2B%22FCC%22%2B%22San%20Francisco%22&pg=PA32|url-status=live}}</ref> The FCC, however, denied Paramount's applications. A few years earlier, the federal regulator had placed a five-station cap on all television networks: no network was allowed to own more than five [[VHF]] television stations. Paramount was hampered by its minority stake in the DuMont Television Network. Although both DuMont and Paramount executives stated that the companies were separate, the FCC ruled that Paramount's partial ownership of DuMont meant that DuMont and Paramount were in theory branches of the same company. Since DuMont owned three television stations and Paramount owned two, the federal agency ruled neither network could acquire additional television stations. The FCC requested that Paramount relinquish its stake in DuMont, but Paramount refused.<ref name="Browne" /> According to television historian William Boddy, "Paramount's checkered antitrust history" helped convince the FCC that Paramount controlled DuMont.<ref name="Boddy">{{cite book|last=Boddy|first=William|title=Fifties Television: the Industry and Its Critics|publisher=University of Illinois Press|year=1992|page=56|isbn=0-252-06299-X}}</ref> Both DuMont and Paramount Television Network suffered as a result, with neither company able to acquire five O&Os. Meanwhile, CBS, ABC, and NBC had each acquired the maximum of five stations by the mid-1950s.<ref name="BrooksandMarsh">{{cite book|last1=Brooks|first1=Tim|last2=Marsh|first2=Earle|title=The Complete Directory to Prime Time Network and Cable TV Shows, 1946–present|publisher=Ballantine|location=New York City|year=2007|edition=9th|page=xiii|isbn=978-0-345-49773-4}}</ref>

When ABC accepted a merger offer from UPT in 1953, DuMont quickly realized that ABC now had more resources than it could possibly hope to match. It quickly reached an agreement in principle to merge with ABC.<ref name="Bergmann5">Bergmann, Ted; Skutch, Ira (2002). ''The DuMont Television Network: What Happened?'', pp. 79–83. Lanham, Maryland: Scarecrow Press, 2002. {{ISBN|0-8108-4270-X}}.</ref> However, Paramount vetoed the offer due to antitrust concerns.<ref name="RWPDTV">{{cite web |last=Dean |first=L. |url=http://www.r-vcr.com/~television/TV/TV11.htm |title=DuMont TV — KTTV TV11 |archive-url=https://web.archive.org/web/20061231105843/http://www.r-vcr.com/~television/TV/TV11.htm |archive-date=December 31, 2006 |url-status=dead |website=Larry Dean's R-VCR Television Production website |access-date=December 28, 2006 }}</ref> For all intents and purposes, this was the end of DuMont, though it lingered on until 1956.

In 1951, Paramount bought a stake in [[Telemeter (pay television)|International Telemeter]], an experimental pay television service which operated with a coin inserted into a box. The service began operating in Palm Springs, California on November 27, 1953, but due to pressure from the FCC, the service ended on May 15, 1954.<ref>{{cite web |title=Telemeter: Coin Operated TV |date=March 31, 2009 |url=http://www.tvobscurities.com/articles/cointv/ |publisher=TVObscurities.com |access-date=June 9, 2012 |archive-date=July 22, 2012 |archive-url=https://web.archive.org/web/20120722103506/http://www.tvobscurities.com/articles/cointv/ |url-status=live }}</ref>

With the loss of the theater chain, Paramount Pictures went into a decline, cutting studio-backed production, releasing its contract players, and making production deals with independents. By the mid-1950s, all the great names were gone; only [[Cecil B. DeMille]], associated with Paramount since 1913, kept making pictures in the grand old style. Despite Paramount's losses, DeMille would, however, give the studio some relief and create his most successful film at Paramount, a 1956 [[The Ten Commandments (1956 film)|remake]] of his 1923 film ''[[The Ten Commandments (1923 film)|The Ten Commandments]]''.<ref>{{cite web |url=http://www.filmsite.org/tenc.html |title=Filmsite.org |publisher=Filmsite.org |access-date=January 7, 2010 |archive-date=January 10, 2010 |archive-url=https://web.archive.org/web/20100110055701/http://www.filmsite.org/tenc.html |url-status=live }}</ref> DeMille died in 1959. Like some other studios, Paramount saw little value in its film library and sold 764 of its pre-1950 films to [[MCA Inc.]]/[[EMKA, Ltd.]] (known today as [[Universal Television]]) in February 1958.<ref>McDougal, Dennis (2001). ''The Last Mogul: Lew Wasserman, MCA, and the Hidden History of Hollywood'' (pp. 231–232). [[Da Capo Press]].</ref>

===1966–70: Early Gulf+Western era===
By the early 1960s, Paramount's future was doubtful. The high-risk movie business was wobbly; the theater chain was long gone; investments in DuMont and in early pay-television came to nothing; and the Golden Age of Hollywood had just ended, even the flagship [[1501 Broadway|Paramount Building]] in Times Square was sold to raise cash, as was KTLA (sold to [[Gene Autry]] in 1964 for a then-phenomenal $12.5&nbsp;million). Their only remaining successful property at that point was [[Dot Records]], which Paramount had acquired in 1957, and even its profits started declining by the middle of the 1960s.<ref>{{cite web |url=http://www.bsnpubs.com/dot/dotstoryc.html |title=Dot Records Story, Part 3 |publisher=BSNpubs.com |date=November 10, 1999 |access-date=February 14, 2016 |archive-date=May 4, 2017 |archive-url=https://web.archive.org/web/20170504015437/http://www.bsnpubs.com/dot/dotstoryc.html |url-status=live }}</ref> Founding father Adolph Zukor (born in 1873) was still chairman emeritus; he referred to chairman Barney Balaban (born 1888) as "the boy". Such aged leadership was incapable of keeping up with the changing times, and in 1966, a sinking Paramount was sold to [[Charles Bluhdorn]]'s industrial conglomerate, [[Gulf and Western Industries]]. Bluhdorn immediately put his stamp on the studio, installing a virtually unknown producer named [[Robert Evans]] as head of production. Despite some rough times, Evans held the job for eight years, restoring Paramount's reputation for commercial success with ''[[The Odd Couple (film)|The Odd Couple]]'', ''[[Rosemary's Baby (film)|Rosemary's Baby]]'', ''[[Love Story (1970 film)|Love Story]]'', ''[[The Godfather]]'', ''[[Chinatown (1974 film)|Chinatown]]'', and ''[[3 Days of the Condor]]''.<ref>{{cite book |last=Evans |first=Robert |title=The kid stays in the picture |year=2006 |publisher=Phoenix Books |location=Beverly Hills, Calif. |isbn=1-59777-525-8 |pages=xii |edition=1st New Millennium printing. |url=https://archive.org/details/kidstaysinpictu00evan |url-access=registration }}</ref>

Gulf and Western also bought the neighboring [[Desilu|Desilu Productions]] television studio (once the lot of [[RKO Pictures]]) from [[Lucille Ball]] in 1967. Using some of Desilu's established shows such as ''[[Star Trek: The Original Series|Star Trek]]'', ''[[Mission: Impossible (1966 TV series)|Mission: Impossible]]'', and ''[[Mannix]]'' as a foot in the door at the networks, the newly reincorporated [[Paramount Television]] eventually became known as a specialist in half-hour situation comedies.<ref>{{cite book |last=Dick |first=Bernard F. |title=Engulfed : the death of Paramount Pictures and the birth of corporate Hollywood |year=2001 |publisher=Univ. Press of Kentucky |location=Lexington, Ky. |isbn=0-8131-2202-3}}</ref>

In 1968, Paramount formed Films Distributing Corp to distribute sensitive film product, including ''Sin With a Stranger'', which was one of the first films to receive an [[X rating]] in the United States when the [[MPAA]] introduced their new [[Motion Picture Association of America film rating system|rating system]].<ref>{{cite news|work=[[Variety (magazine)|Daily Variety]]|first=A.D.|last=Murphy|title=Coding Old Pix New Wrinkle|date=November 20, 1968|page=1}}</ref>

===1971–80: CIC formation and high-concept era===
In 1970, Paramount teamed with [[Universal Pictures]] to form [[Cinema International Corporation]], a new company that would distribute films by the two studios outside the United States. [[Metro–Goldwyn–Mayer|Metro-Goldwyn-Mayer]] would become a partner in the mid-1970s. Both Paramount and CIC entered the video market with Paramount Home Video (now [[Paramount Home Media Distribution|Paramount Home Entertainment]]) and [[CIC Video]], respectively.

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

The Paramount specialty was now simpler. "[[High concept]]" pictures such as ''[[Saturday Night Fever]]'' and ''[[Grease (film)|Grease]]'' hit big, hard, and fast all over the world,<ref>{{cite web |url=http://www.filmsite.org/80sintro.html |title=Film History of the 1980s |publisher=Filmsite.org |date=September 8, 1986 |access-date=August 8, 2015 |archive-date=August 23, 2015 |archive-url=https://web.archive.org/web/20150823050646/http://www.filmsite.org/80sintro.html |url-status=live }}</ref> while its fortuitous earlier acquisition of the ''[[Star Trek]]'' property, which had grown into a [[cult favorite]], enabled Paramount to have a long running science fiction film and television franchise to compete with the outstanding popular success of ''[[Star Wars]]''. Diller's television background led him to propose one of his longest-standing ideas to the board: [[Paramount Television Service]], a [[Fourth television network|fourth commercial network]]. Paramount Pictures purchased the [[Hughes Television Network]] (HTN) including its satellite time in planning for PTVS in 1976. Paramount sold HTN to [[Madison Square Garden Sports|Madison Square Garden Corporation]] in 1979.<ref name=ap>{{cite news |title=Cohen Buys Hughes TV Network for 3rd Time |url=http://www.highbeam.com/doc/1P1-74495632.html |archive-url=https://web.archive.org/web/20130117060244/http://www.highbeam.com/doc/1P1-74495632.html |url-status=dead |archive-date=January 17, 2013 |access-date=May 30, 2012 |agency=Associated Press |date=June 9, 2003}}</ref> But Diller believed strongly in the concept, and so took his fourth-network idea with him when he moved to [[20th Century Fox]] in 1984, where Fox's then freshly installed proprietor, [[Rupert Murdoch]] was a more interested listener.

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

Paramount Pictures was not connected to either [[Paramount Records]] (1910s–1935) or [[ABC Records|ABC-Paramount Records]] (1955–66) until it purchased the rights to use the name (but not the latter's catalog) in the late 1960s. The [[Paramount Records (1969)|Paramount]] name was used for soundtrack albums and some pop re-issues from the [[Dot Records]] catalog which Paramount had acquired in 1957. By 1970, Dot had become an all-country label<ref>{{cite web |url=http://www.bsnpubs.com/dot/paramount.html |title=Paramount Album Discography |publisher=BSNpubs.com |date=April 16, 2000 |access-date=January 7, 2010 |archive-date=January 13, 2010 |archive-url=https://web.archive.org/web/20100113165140/http://bsnpubs.com/dot/paramount.html |url-status=live }}</ref> and in 1974, Paramount sold all of its record holdings to [[ABC Records]], which in turn was sold to [[MCA Inc.|MCA]] (now [[Universal Music Group]]) in 1979.<ref>{{Cite book |isbn = 1471611868|title = Elton John|last1 = Hombach|first1 = Jean-Pierre|year = 1987}}</ref><ref>{{Cite book |isbn = 1471632903|title = Whitney Houston - Bobby Brown the Truth|last1 = Hombach|first1 = Jean-Pierre}}</ref>

===1980–94: Continual success===
Paramount's successful run of pictures extended into the 1980s and 1990s, generating hits like ''[[Airplane!]]'', ''[[American Gigolo]]'', ''[[Ordinary People]]'', ''[[An Officer and a Gentleman]]'', ''[[Flashdance]]'', ''[[Terms of Endearment]]'', ''[[Footloose (1984 film)|Footloose]]'', ''[[Pretty in Pink]]'', ''[[Top Gun]]'', ''[[Crocodile Dundee]]'', ''[[Fatal Attraction]]'', ''[[Ghost (1990 film)|Ghost]]'', the ''[[Friday the 13th (1980 film)|Friday the 13th]]'' [[slasher film|slasher]] series, as well as joining forces with [[Lucasfilm]] and [[Steven Spielberg]] to create the ''[[Indiana Jones]]'' franchise. Other examples are the ''[[Star Trek]]'' film series and a string of films starring comedian [[Eddie Murphy]] like ''[[Trading Places]]'', ''[[Coming to America]]'' and ''[[Beverly Hills Cop]]'' and its [[sequel]]s. While the emphasis was decidedly on the commercial, there were occasional less commercial but more artistic and intellectual efforts like ''[[I'm Dancing as Fast as I Can]]'', ''[[Atlantic City (1980 film)|Atlantic City]]'', ''[[Reds (film)|Reds]]'', ''[[Witness (1985 film)|Witness]]'', ''[[Children of a Lesser God (film)|Children of a Lesser God]]'' and ''[[The Accused (1988 film)|The Accused]]''. During this period, responsibility for running the studio passed from Eisner and Katzenberg to [[Frank Mancuso, Sr.]] (1984) and [[Ned Tanen]] (1984) to [[Stanley R. Jaffe]] (1991) and [[Sherry Lansing]] (1992). More so than most, Paramount's slate of films included many remakes and television [[Spin-off (media)|spin-offs]]; while sometimes commercially successful, there have been few compelling films of the kind that once made Paramount the industry leader.

Around the end of 1981, Paramount Pictures took over fellow Gulf and Western subsidiary [[Sega]] from the company's manufacturing division in an effort to get into the video game business. Paramount would go on to sell Sega following the [[Video Game Crash of 1983]], and the two companies would later work together on the live action/CGI ''[[Sonic the Hedgehog (film series)|Sonic the Hedgehog]]'' film series.<ref>{{Cite news |last1=Harmetz |first1=Aljean |date=July 1, 1982 |title=VIDEO GAMES GO TO HOLLYWOOD |language=en-US |work=The New York Times |url=https://www.nytimes.com/1982/07/01/business/video-games-to-to-hollywood.html |access-date=August 30, 2023 |issn=0362-4331}}</ref>

On August 25, 1983, Paramount Studios caught fire. Two or three sound stages and four outdoor sets were destroyed.<ref>{{cite news |title=Fire destroys sets, stages at Paramount |date=August 26, 1983 |page=18 |url=https://news.google.com/newspapers?id=9S8aAAAAIBAJ&dq=paramount%20fire%20cheers%20star-trek&pg=6670%2C8783024 |newspaper=[[Times-News (Hendersonville, North Carolina)|Times-News]] |location=Hendersonville, North Carolina |access-date=August 17, 2012 |agency=[[Associated Press]] |author=John Antczak |archive-date=January 4, 2021 |archive-url=https://web.archive.org/web/20210104041944/https://news.google.com/newspapers?id=9S8aAAAAIBAJ&dq=paramount%20fire%20cheers%20star-trek&pg=6670%2C8783024 |url-status=live }}</ref><ref>{{cite news |title=Fire destroys Paramount sound stages |date=August 26, 1983 |page=8 |url=https://news.google.com/newspapers?id=CJszAAAAIBAJ&dq=paramount%20studios%20fire%20cheers%20star-trek&pg=3449%2C6550609 |agency=[[United Press International]] |newspaper=[[Lodi News-Sentinel]] |location=Lodi, California |access-date=August 17, 2012 |archive-date=March 9, 2021 |archive-url=https://web.archive.org/web/20210309155659/https://news.google.com/newspapers?id=CJszAAAAIBAJ&dq=paramount+studios+fire+cheers+star-trek&pg=3449%2C6550609 |url-status=live }}</ref>

When Charles Bluhdorn died unexpectedly, his successor Martin Davis dumped all of Gulf and Western's industrial, mining, and sugar-growing subsidiaries and refocused the company, renaming it Paramount Communications in 1989. With the influx of cash from the sale of Gulf and Western's industrial properties in the mid-1980s, Paramount bought a string of television stations and [[KECO Entertainment]]'s theme park operations, renaming them [[Paramount Parks]]. These parks included [[California's Great America|Paramount's Great America]], [[Canada's Wonderland|Paramount Canada's Wonderland]], [[Carowinds|Paramount's Carowinds]], [[Kings Dominion|Paramount's Kings Dominion]], and [[Kings Island|Paramount's Kings Island]].<ref>{{cite web |url=https://www.visitkingsisland.com/media-center/park-history |title=Park History &#124; Kings Island, Mason OH |publisher=Visitkingsisland.com |access-date=August 8, 2015 |archive-date=September 5, 2015 |archive-url=https://web.archive.org/web/20150905170551/https://www.visitkingsisland.com/media-center/park-history |url-status=live }}</ref>

In May 1985, Paramount decided to start its own talent department, an attempt to form a stable of exclusively-contracted film personnel (outside of [[Eddie Murphy]]); this effort proved unsuccessful and studio president [[Dawn Steel]] decided to shut down the department on July 30, 1986.<ref>{{Cite news|date=August 6, 1986|title=Par Pulling Plug On Pool of Talent|pages=3, 95|work=[[Variety (magazine)|Variety]]}}</ref> In 1987, Paramount Pictures, [[Metro-Goldwyn-Mayer|MGM/UA Communications Co.]] and [[Universal Pictures]] teamed up in order to market feature film and television product to China, a response to the 25-billion admission tickets that were clocked in the country in 1986. Worldwide Media Sales, a division of the New York-based Worldwide Media Group had been placed in charge of the undertaking.<ref>{{Cite news |date=June 3, 1987 |title=MGM/UA, Par, Universal Team To Market U.S. Products In China |page=6 |work=[[Variety (magazine)|Variety]]}}</ref> That year, Paramount Pictures decided to consolidate its distribution operations, closing a number of branch offices that were designed for the studio and relocating staff and major activities in an effort to cut costs and provide for a more efficient centralization; this decision was made in response to a change in distribution practices that had occurred among the various major studios.<ref>{{Cite news |date=July 22, 1987 |title=Paramount Is Closing Branches As Part Of Distrib Consolidation |pages=4, 34 |work=[[Variety (magazine)|Variety]]}}</ref> In August 1987, Paramount Overseas Productions declared that the subsidiary would be in service not just for the upcoming film ''Experts'', which was shot on a budget of $12 million in [[Canada]], but also for other films filmed there worldwide, including the [[United Kingdom]] and [[Canada]].<ref>{{Cite news |date=August 12, 1987 |title=Paramount POP Subsid Not Just For 'Experts' |page=26 |work=[[Variety (magazine)|Variety]]}}</ref>

In 1993, [[Sumner Redstone]]'s entertainment conglomerate [[Viacom (1952–2006)|Viacom]] made a bid for a merger with Paramount Communications; this quickly escalated into a bidding war with [[Barry Diller]]'s [[QVC]]. But Viacom prevailed, ultimately paying $10&nbsp;billion for the Paramount holdings. Viacom and Paramount had planned to merge as early as 1989.<ref name="Delugach">{{cite news |last=Delugach |first=Al |title=Viacom, Gulf & Western Discuss Merger |url=https://www.latimes.com/archives/la-xpm-1989-05-06-fi-2144-story.html |access-date=May 30, 2012 |newspaper=Los Angeles Times |date=May 6, 1989 |archive-date=October 15, 2012 |archive-url=https://web.archive.org/web/20121015133536/http://articles.latimes.com/1989-05-06/business/fi-2144_1_five-television-and-eight-western-deal-sumner-m-redstone |url-status=live }}</ref>

Paramount is the last major film studio located in Hollywood proper. When Paramount moved to its present home in 1927, it was in the heart of the film community. Since then, former next-door neighbor [[RKO Pictures|RKO]] closed up shop in 1957 (Paramount ultimately absorbed their former lot); [[Warner Bros.]] (whose old Sunset Boulevard studio was sold to Paramount in 1949 as a home for [[KTLA]]) moved to [[Burbank, Los Angeles County, California|Burbank]] in 1930; [[Columbia Pictures|Columbia]] joined Warners in Burbank in 1973 then moved again to [[Culver City, California|Culver City]] in 1989; and the Pickford-Fairbanks-Goldwyn-United Artists lot, after a lively history, has been turned into a [[post-production]] and music-scoring facility for Warners, known simply as "The Lot". For a time the semi-industrial neighborhood around Paramount was in decline, but has now come back. The recently refurbished studio has come to symbolize Hollywood for many visitors, and its studio tour is a popular attraction.

===1989–94: Paramount Communications===
{{Infobox company
| name = Paramount Communications, Inc.
| type = [[Public company|Public]]
| traded_as = {{NYSE was|PCI}}
| logo = [[File:Paramount Communications.svg|frameless|class=skin-invert]]
| logo_size = 250px
| fate = Acquired and folded into [[Viacom (1952–2006)|Viacom]]
| predecessor = [[Gulf and Western Industries|Gulf and Western Inc.]]
| successor = [[Viacom (1952–2006)|Viacom]]
| foundation = {{start date and age|1989}}
| defunct = {{end date and age|1994|7|7}}
| location = [[New York City, New York]], United States
| industry = [[Entertainment industry|Entertainment]]<br />[[Mass media]]<br />[[Publishing]]
| founder = Martin S. Davis
| parent = 
| subsid = [[Madison Square Garden Sports|Madison Square Garden]]<br />Paramount Pictures<br />[[Simon & Schuster]]
}}

In 1983, Gulf and Western began a restructuring process that would transform the corporation from a bloated conglomerate consisting of subsidiaries from unrelated industries to a more focused entertainment and publishing company. The idea was to aid financial markets in measuring the company's success, which, in turn, would help place better value on its shares. Though its Paramount division did very well in recent years, Gulf and Western's success as a whole was translating poorly with investors. This process eventually led Davis to divest many of the company's subsidiaries. Its sugar plantations in Florida and the Dominican Republic were sold in 1985; the consumer and industrial products branch was sold off that same year.<ref name = "lbm" /> In 1989, Davis renamed the company Paramount Communications Incorporated after its primary asset, Paramount Pictures. The company's ticker symbol was changed from GW to PCI.<ref name="restructure">{{cite news|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|last=Williams|first=Linda|date=April 10, 1989|newspaper=Los Angeles Times|access-date=May 21, 2012|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> In addition to the Paramount film, television, home video, and music publishing divisions, the company continued to own the Madison Square Garden properties (which also included [[MSG (TV network)|MSG Network]]), a 50% stake in [[USA Network]]s (the other 50% was owned by [[MCA Inc.|MCA]]/[[Universal Pictures]]) and Simon & Schuster, [[Prentice Hall]], [[Pocket Books]], [[Allyn & Bacon]], Cineamerica (a joint venture with [[Warner Communications]]), and Canadian cinema chain [[Famous Players Theatres]].<ref name = "lbm">Prince, Stephen (2000) ''A New Pot of Gold: Hollywood Under the Electronic Rainbow, 1980–1989'' (p. 60-65). [[University of California Press]], [[Berkeley, California|Berkeley]]/[[Los Angeles, California]]. {{ISBN|0-520-23266-6}}</ref>

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

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

Paramount Television launched Wilshire Court Productions in conjunction with USA Networks, before the latter was renamed [[NBCUniversal Cable]], in 1989. Wilshire Court Productions (named for a side street in Los Angeles) produced [[television film]]s that aired on the USA Networks, and later for other networks. USA Networks launched a second channel, the Sci-Fi Channel (now known as [[Syfy]]), in 1992. As its name implied, it focused on films and television series within the science fiction genre. Much of the initial programming was owned either by Paramount or Universal. Paramount bought one more television station in 1993: [[Cox Enterprises]]' [[WKBD-TV]] in Detroit, Michigan, at the time an affiliate of the [[Fox Broadcasting Company]].
[[File:Paramount Studios Backlot.jpg|left|thumb|Paramount Backlot in between filming in 2024]]

===1994–2005: Dolgen/Lansing and "old" Viacom era===
In February 1994, [[Viacom (1952–2006)|Viacom]] acquired 50.1% of Paramount Communications Inc. shares for $9.75&nbsp;billion, following a five-month battle with [[QVC]], and completed the merger in July.<ref>{{cite news|newspaper=[[The New York Times]]|date=February 15, 1994|page=A1|last=Fabrikant|first=Geraldine|title=Executives Say That Viacom Has Won Paramount Battle|url=https://www.nytimes.com/1994/02/15/business/executives-say-that-viacom-has-won-paramount-battle.html|access-date=August 15, 2020|archive-date=December 18, 2020|archive-url=https://web.archive.org/web/20201218045123/https://www.nytimes.com/1994/02/15/business/executives-say-that-viacom-has-won-paramount-battle.html|url-status=live}}</ref><ref>{{cite web|title=Annual Report|url=https://www.sec.gov/Archives/edgar/data/44482/0000950112-94-002132.txt|website=[[U.S. Securities and Exchange Commission]]|access-date=March 7, 2016|archive-date=March 8, 2016|archive-url=https://web.archive.org/web/20160308073121/http://www.sec.gov/Archives/edgar/data/44482/0000950112-94-002132.txt|url-status=live}}</ref><ref>{{cite magazine|title=75 Power Players: The Outsiders|magazine=[[Next Generation (magazine)|Next Generation]]|issue=11|date=November 1995|page=61 |quote=Viacom completed acquisition of Paramount Communications in July 1994, creating one of the world's largest entertainment companies.}}</ref> At the time, Paramount's holdings included Paramount Pictures, [[Madison Square Garden]], the [[New York Rangers]], the [[New York Knicks]], and the [[Simon & Schuster]] publishing house.<ref name="Viacom">{{cite news|url=https://www.nytimes.com/1994/02/15/business/executives-say-that-viacom-has-won-paramount-battle.html?pagewanted=all&src=pm|title=Executives Say That Viacom Has Won Paramount Battle|last=Fabrikant|first=Geraldine|date=February 15, 1994|work=[[The New York Times]]|access-date=May 21, 2012|archive-date=November 14, 2013|archive-url=https://web.archive.org/web/20131114093059/http://www.nytimes.com/1994/02/15/business/executives-say-that-viacom-has-won-paramount-battle.html?pagewanted=all&src=pm|url-status=live}}</ref> The deal had been planned as early as 1989, when the company was still known as Gulf and Western.<ref name="Delugach"/> Though Davis was named a member of the board of [[National Amusements]], which controlled Viacom, he ceased to manage the company.

During this time period, Paramount Pictures went under the guidance of chairman Jonathan Dolgen and president [[Sherry Lansing]].<ref>{{cite news |url=https://www.latimes.com/archives/la-xpm-1994-03-17-fi-35287-story.html |title=Viacom to Name Jonathan Dolgen New Paramount Studio Head : Hollywood: The Sony Pictures executive will oversee movie and TV operations in a deal that is expected to be announced today. – latimes |date=March 18, 1994 |access-date=August 8, 2015 |first=Alan |last=Citron |archive-date=October 10, 2015 |archive-url=https://web.archive.org/web/20151010020512/http://articles.latimes.com/1994-03-17/business/fi-35287_1_sony-pictures |url-status=live }}</ref><ref>{{cite web |url=http://www.sherrylansingfoundation.org/page.php?whPage=lansing.php |title=The Sherry Lansing Foundation |publisher=The Sherry Lansing Foundation |access-date=August 8, 2015 |archive-date=March 7, 2015 |archive-url=https://web.archive.org/web/20150307062927/http://www.sherrylansingfoundation.org/page.php?whPage=lansing.php |url-status=live }}</ref> During their administration over Paramount, the studio had an extremely successful period of films with two of Paramount's ten highest-grossing films being produced during this period.<ref>{{cite web |url=https://boxofficemojo.com/studio/chart/?view=company&view2=allrovis&studio=paramount.htm |title=Box Office by Studio: Paramount |website=Box Office Mojo |access-date=January 7, 2010 |archive-date=February 3, 2012 |archive-url=https://web.archive.org/web/20120203140142/http://boxofficemojo.com/studio/chart/?view=company&view2=allrovis&studio=paramount.htm |url-status=live }}</ref> The most successful of these films, ''[[Titanic (1997 film)|Titanic]]'', co-produced with [[20th Century Fox]] and [[Lightstorm Entertainment]], became the highest-grossing film up to that time, grossing over $1.8&nbsp;billion worldwide.<ref>{{cite web |url=https://boxofficemojo.com/movies/?id=titanic.htm |title=Titanic |website=Box Office Mojo |date=March 15, 1998 |access-date=January 7, 2010 |archive-date=March 21, 2012 |archive-url=https://web.archive.org/web/20120321035129/https://boxofficemojo.com/movies/?id=titanic.htm |url-status=live }}</ref> Also during this time, three Paramount Pictures films won the [[Academy Award]] for Best Picture; ''Titanic'', ''[[Braveheart]]'', and ''[[Forrest Gump]]''.

Paramount's most important property, however, was ''Star Trek''. Studio executives had begun to call it "the franchise" in the 1980s due to its reliable revenue, and other studios envied its "untouchable and unduplicatable" success. By 1998, ''Star Trek'' television shows, movies, books, videotapes, and licensing provided so much of the studio's profit that "it is not possible to spend any reasonable amount of time at Paramount and not be aware of [its] presence"; filming for ''Star Trek: Voyager'' and ''Star Trek: Deep Space Nine'' required up to nine of the largest of the studio's 36 [[sound stage]]s.<ref name="meehan2005">{{cite book |title=Why TV is not our fault: television programming, viewers, and who's really in control |last=Meehan |first=Eileen R. |year=2005 |publisher=Rowman & Littlefield |page=93 |url=https://books.google.com/books?id=SEtw4yGRjwUC&q=%22star%20trek%22%20%22the%20franchise%22%20paramount&pg=PA93 |isbn=0-7425-2486-8 |access-date=November 7, 2020 |archive-date=March 9, 2021 |archive-url=https://web.archive.org/web/20210309155706/https://books.google.com/books?id=SEtw4yGRjwUC&q=%22star+trek%22+%22the+franchise%22+paramount&pg=PA93 |url-status=live }}</ref><ref name="poe1998">{{cite book |title=A Vision of the Future |last=Poe |first=Stephen Edward |year=1998 |publisher=Simon and Schuster |isbn=0-671-53481-5}}</ref>{{rp|49–50,54}}

In 1995, Viacom and [[Chris-Craft Industries]]' [[BHC Communications#United Television|United Television]] launched [[UPN|United Paramount Network]] (UPN) with ''Star Trek: Voyager'' as its flagship series, fulfilling Barry Diller's plan for a Paramount network from 25 years earlier. In 1999, Viacom bought out United Television's interests, and handed responsibility for the start-up network to the newly acquired [[CBS]] unit, which Viacom bought in 2000 – an ironic confluence of events as Paramount had once invested in CBS, and Viacom had once been the syndication arm of CBS, as well.<ref>{{cite book|last1=Croteau|first1=David|last2=Hoynes|first2=William|title=The business of media : corporate media and the public interest|year=2006|publisher=Pine Forge|location=Thousand Oaks|isbn=1-4129-1315-2|edition=2nd|page=85|chapter=3}}</ref> During this period the studio acquired some 30 television stations to support the UPN network, also acquiring and merging in the assets of Republic Pictures, Spelling Television and Viacom Productions, almost doubling the size of the studio's television library. The television division produced the dominant prime time show for the decade in ''Frasier'', as well as such long running hits as ''NCIS'' and ''Becker'' and the dominant prime time magazine show ''Entertainment Tonight.'' Paramount also gained the ownership rights to the [[Rysher Entertainment|Rysher]] library, after Viacom acquired the rights from [[Cox Enterprises]].

During this period, Paramount and its related subsidiaries and affiliates, operating under the name "Viacom Entertainment Group" also included the fourth largest group of theme parks in the United States and Canada which in addition to traditional rides and attractions launched numerous successful location-based entertainment units including a long running "Star Trek" attraction at the Las Vegas Hilton. Famous Music – the company's celebrated music publishing arm almost doubled in size and developed artists including Pink, Bush, and Green Day, as well as catalog favorites including Duke Ellington and Henry Mancini. The Paramount/Viacom licensing group under the leadership of [[Tom McGrath (media executive)|Tom McGrath]] created the "Cheers" franchise bars and restaurants and a chain of restaurants borrowing from the studio's Academy Award-winning film ''Forrest Gump'' – ''The Bubba Gump Shrimp Company''. Through the combined efforts of Famous Music and the studio over ten "Broadway" musicals were created including Irving Berlin's ''White Christmas'', ''Footloose, Saturday Night Fever'', [[Andrew Lloyd Webber]]'s ''Sunset Boulevard'' among others. The company's international arm, United International Pictures (UIP), was the dominant distributor internationally for ten straight years representing Paramount, Universal and MGM. Simon and Schuster became part of the Viacom Entertainment Group emerging as the United States' dominant trade book publisher.

In 2002, Paramount; along with [[Walt Disney Studios Motion Pictures|Buena Vista Distribution]], [[20th Century Fox]], [[Sony Pictures|Sony Pictures Entertainment]], [[Metro-Goldwyn-Mayer|MGM/UA Entertainment]], [[Universal Studios, Inc.|Universal Studios]], [[DreamWorks Pictures]], [[Artisan Entertainment]], [[Lionsgate|Lions Gate Entertainment]], and [[Warner Bros.]] formed the [[Digital Cinema Initiatives]]. Operating under a waiver from the antitrust law, the studios combined under the leadership of Paramount Chief Operating Officer [[Tom McGrath (media executive)|Tom McGrath]] to develop technical standards for the eventual introduction of digital film projection – replacing the now 100-year-old film technology.<ref name="dcimovies.com">{{cite web |url=http://www.dcimovies.com/ |title=Digital Cinema Initiatives (DCI) November&nbsp;20, 2008 ERRATA TO DCI DIGITAL CINEMA SYSTEM SPECIFICATION, VERSION 1.2 |publisher=Dcimovies.com |access-date=January 7, 2010 |archive-date=February 20, 2011 |archive-url=https://web.archive.org/web/20110220165719/http://www.dcimovies.com/ |url-status=live }}</ref> DCI was created "to establish and document voluntary specifications for an open architecture for digital cinema that ensures a uniform and high level of technical performance, reliability and quality control."<ref name="dcimovies.com" /> McGrath also headed up Paramount's initiative for the creation and launch of the Blu-ray Disc.

===2005–2019: "New" Viacom era===
[[File:Paramountpicturesmelrosegate.jpg|thumb|Paramount Pictures' studio lot in Hollywood (Melrose Gate entrance)]]On December 11, 2005, the Paramount Motion Pictures Group announced that it had purchased [[DreamWorks Pictures|DreamWorks]] SKG (which was co-founded by former Paramount executive [[Jeffrey Katzenberg]]) in a deal worth $1.6&nbsp;billion. The announcement was made by [[Brad Grey]], chairman and CEO of Paramount Pictures who noted that enhancing Paramount's pipeline of pictures is a "key strategic objective in restoring Paramount's stature as a leader in filmed entertainment."<ref>{{cite news |date=February 3, 2006 |title=Paramount-Dreamworks deal finalised |work=ABC News |url=http://www.abc.net.au/news/2006-02-02/paramount-dreamworks-deal-finalised/790778 |url-status=live |access-date=April 27, 2013 |archive-url=https://web.archive.org/web/20131105061238/http://www.abc.net.au/news/2006-02-02/paramount-dreamworks-deal-finalised/790778 |archive-date=November 5, 2013}}</ref> While the agreement did not include [[DreamWorks Animation]] SKG Inc., the most profitable part of the company that went public the previous year, Paramount became the distributor of DreamWorks Animation films from 2006 to 2012. 20th Century Fox would take over distribution beginning in 2013 to 2017, followed by Universal Pictures permanently following [[NBCUniversal]]'s acquisition of the studio in 2016<ref>{{cite news |date=December 12, 2005 |title=Paramount Pictures Buys DreamWorks |newspaper=foxnews.com/ Associated Press |url=http://www.foxnews.com/story/0,2933,178401,00.html |url-status=live |access-date=April 14, 2013 |archive-url=https://web.archive.org/web/20130521122740/http://www.foxnews.com/story/0,2933,178401,00.html |archive-date=May 21, 2013}}</ref>

Reflecting in part the troubles of the broadcasting business, in 2005 Viacom wrote off over $18&nbsp;billion from its radio acquisitions and, early that year, announced that it would split itself in two.<ref>{{cite news |last=Higgins |first=John M. |author-link=John M. Higgins |date=February 27, 2005 |title=Viacom's Big Bath |newspaper=Broadcasting&Cable |url=http://www.broadcastingcable.com/article/156315-Viacom_s_Big_Bath.php |url-status=dead |access-date=April 13, 2013 |archive-url=https://archive.today/20130628203021/http://www.broadcastingcable.com/article/156315-Viacom_s_Big_Bath.php |archive-date=June 28, 2013}}</ref> With that announcement, Dolgen and Lansing were replaced by former television executives Brad Grey and Gail Berman.<ref>{{cite news |last=Eller |first=Claudia |date=November 2, 2004 |title=Hollywood Pioneer Lansing Is Poised to Exit Paramount |newspaper=Los Angeles Times |url=https://www.latimes.com/archives/la-xpm-2004-nov-02-fi-paramount2-story.html |url-status=live |access-date=April 17, 2013 |archive-url=https://web.archive.org/web/20121105153532/http://articles.latimes.com/2004/nov/02/business/fi-paramount2 |archive-date=November 5, 2012}}</ref><ref>{{cite news |last1=Hofmeister |first1=Sallie |last2=Eller |first2=Claudia |date=June 3, 2004 |title=Another Exec Quits Viacom in Shake-Up |newspaper=Los Angeles Times |url=https://www.latimes.com/archives/la-xpm-2004-jun-03-fi-dolgen3-story.html |url-status=live |access-date=April 17, 2013 |archive-url=https://web.archive.org/web/20120205202445/http://articles.latimes.com/2004/jun/03/business/fi-dolgen3 |archive-date=February 5, 2012}}</ref> The Viacom board split the company into [[CBS Corporation]] and a separate company under the [[Viacom (2005–2019)|Viacom]] name. The board scheduled the division for the first quarter of 2006. Under the plan, CBS Corporation would comprise the [[CBS]] and [[UPN]] networks, [[CBS Television Stations|Viacom Television Stations]], [[Infinity Broadcasting Corporation]], [[Outfront Media|Viacom Outdoor]], [[Paramount Television]], [[King World Productions]], [[Showtime Networks]], [[Simon & Schuster]], [[Paramount Parks]], and [[CBS News]]. The revamped Viacom would include "[[MTV]], [[VH1]], [[Nickelodeon]], [[Black Entertainment Television|BET]] and several other cable networks, as well as the Paramount movie studio".<ref>{{cite news |date=February 11, 2009 |title=Viacom Makes Split Official |work=CBS News |url=https://www.cbsnews.com/news/viacom-makes-split-official/ |url-status=live |access-date=April 28, 2013 |archive-url=https://web.archive.org/web/20130308043436/http://www.cbsnews.com/2100-201_162-701875.html |archive-date=March 8, 2013}}</ref> The split was completed on December 31, 2005.<ref>{{cite news |date=February 11, 2009 |title=CBS, Viacom Formally Split |work=CBS News |url=https://www.cbsnews.com/news/cbs-viacom-formally-split/ |url-status=live |access-date=April 13, 2013 |archive-url=https://web.archive.org/web/20130603064833/http://www.cbsnews.com/2100-500395_162-1176111.html |archive-date=June 3, 2013}}</ref> Paramount's home entertainment unit began using the [[CBS Home Entertainment|CBS DVD]] brand for the Paramount Television library, as both Viacom and CBS Corporation were controlled by [[Sumner Redstone]]'s [[National Amusements]].<ref>{{cite news |last=Griffin |first=Greg |date=February 6, 2007 |title=Redstones settle feud over family business |work=[[The Denver Post]] |url=http://www.denverpost.com/search/ci_5164430 |url-status=live |access-date=April 19, 2013 |archive-url=https://web.archive.org/web/20120618004612/http://www.denverpost.com/search/ci_5164430 |archive-date=June 18, 2012}}</ref>

Grey also broke up the famous United International Pictures (UIP) international distribution company with 15 countries being taken over by Paramount or Universal by December 31, 2006, with the joint venture continuing in 20 markets. In Australia, Brazil, France, Ireland, Mexico, New Zealand and the United Kingdom, Paramount took over UIP. While in Austria, Belgium, Germany, Italy, the Netherlands, Russia, Spain and Switzerland, Universal took over and Paramount would build its own distribution operations there. In 2007 and 2008, Paramount may sub-distribute films via Universal's countries and vice versa. Paramount's international distribution unit would be headquartered in Los Angeles and have a European hub.<ref name="bks">{{cite news |last1=Thompson |first1=Anne |title='End of an Era' for United International Pictures |url=https://www.backstage.com/news/end-of-an-era-for-united-international-pictures/ |access-date=May 16, 2019 |work=Backstage |date=September 7, 2005 |archive-date=October 12, 2017 |archive-url=https://web.archive.org/web/20171012100631/https://www.backstage.com/news/end-of-an-era-for-united-international-pictures/ |url-status=live }}</ref> In Italy, Paramount distributed through Universal.<ref name="vty">{{cite news|title=Fox and Paramount Forge Unique Distribution Partnership in Italy|last=Vivarelli|first=Nick|url=https://variety.com/2017/film/global/fox-paramount-forge-distribution-partnership-italy-1202468799|work=Variety|date=June 16, 2017|access-date=July 30, 2018|archive-date=July 31, 2018|archive-url=https://web.archive.org/web/20180731062259/https://variety.com/2017/film/global/fox-paramount-forge-distribution-partnership-italy-1202468799/|url-status=live}}</ref> With Universal indicated that it was pulling out of the UIP Korea and started its own operation there in November 2016, Paramount agreed to have [[CJ Entertainment]] distribute there.<ref>{{cite news |last1=Whiteman |first1=Bobbie |title=CJ to carry Paramount pix for South Korea |url=https://variety.com/2006/film/features/cj-to-carry-paramount-pix-for-south-korea-1117954672/ |access-date=May 22, 2019 |work=Variety |date=November 29, 2006 |language=en |archive-date=February 13, 2020 |archive-url=https://web.archive.org/web/20200213181731/https://variety.com/2006/film/features/cj-to-carry-paramount-pix-for-south-korea-1117954672/ |url-status=live }}</ref> UIP president and chief operating officer Andrew Cripps<ref name="bks" /> was hired as Paramount Pictures International head. Paramount Pictures International distributed films that made the 1&nbsp;billion mark in July 2007; the fifth studio that year to do so and it its first year.<ref>{{cite news |last1=McNary |first1=Dave |title=Paramount joins billion-dollar club |url=https://variety.com/2007/film/box-office/paramount-joins-billion-dollar-club-1117969536/ |access-date=May 22, 2019 |work=Variety |date=August 1, 2007 |language=en |archive-date=February 29, 2020 |archive-url=https://web.archive.org/web/20200229005829/https://variety.com/2007/film/box-office/paramount-joins-billion-dollar-club-1117969536/ |url-status=live }}</ref>

On October 6, 2008, DreamWorks executives announced that they were leaving Paramount and relaunching an independent DreamWorks. The DreamWorks trademarks remained with DreamWorks Animation when that company was spun off before the Paramount purchase, and DreamWorks Animation transferred the license to the name to the new company.<ref>{{cite news |url=https://www.nytimes.com/2008/10/06/business/media/06dreamworks.html?ref=business |title=DreamWorks Executives Sever Ties With Paramount to Form a New Company |first=Michael |last=Cieply |work=The New York Times |date=October 6, 2008 |access-date=February 23, 2017 |archive-date=January 29, 2017 |archive-url=https://web.archive.org/web/20170129071011/http://www.nytimes.com/2008/10/06/business/media/06dreamworks.html?ref=business |url-status=live }}</ref>

DreamWorks films, acquired by Paramount but still distributed internationally by Universal, are included in Paramount's market share. Grey also launched a Digital Entertainment division to take advantage of emerging digital distribution technologies. This led to Paramount becoming the second movie studio to sign a deal with [[Apple Inc.]] to sell its films through the [[iTunes Store]].<ref>{{cite web |url=https://socialbilitty.com/2014/02/paramount-pictures/ |title=Paramount Pictures |date=February 2, 2014 |access-date=October 10, 2017 |archive-date=September 4, 2017 |archive-url=https://web.archive.org/web/20170904020700/https://socialbilitty.com/2014/02/paramount-pictures/ |url-status=live }}</ref>

Also, in 2007, Paramount sold another one of its "heritage" units, [[Famous Music]], to [[Sony/ATV Music Publishing]] (best known for publishing many songs by [[The Beatles]], and for being co-owned by [[Michael Jackson]]), ending a nearly-eight-decade run as a division of Paramount, being the studio's music publishing arm since the period when the entire company went by the name "Famous Players".<ref>{{cite book|last=Garrett|first=Charles Hiroshi|title=The Grove Dictionary of American Music|date=January 2013|publisher=Oxford University Press|location=New York City, NY|isbn=978-0-19-531428-1|edition=Second}}</ref>

In early 2008, Paramount partnered with Los Angeles-based developer [[FanRocket]] to make short scenes taken from its film library available to users on Facebook. The application, called VooZoo, allows users to send movie clips to other Facebook users and to post clips on their profile pages.<ref>{{cite news |last=Nakashima |first=Ryan |url=https://www.usatoday.com/tech/products/2008-03-11-3376706485_x.htm |title=Facebook app lets users send movie clips |work=USA Today |date=March 11, 2008 |access-date=January 7, 2010 |archive-date=May 13, 2009 |archive-url=https://web.archive.org/web/20090513053052/http://www.usatoday.com/tech/products/2008-03-11-3376706485_x.htm |url-status=live }}</ref> Paramount engineered a similar deal with [[Makena Technologies]] to allow users of [[MTV|vMTV]] and [[There.com]] to view and send movie clips.<ref>{{cite news |last=Lang |first=Derrik J. |url=https://www.usatoday.com/life/movies/2008-04-03-2435038588_x.htm |title=Paramount to open virtual movie vault |work=USA Today |date=April 3, 2008 |access-date=January 7, 2010 |archive-date=December 13, 2009 |archive-url=https://web.archive.org/web/20091213003206/http://www.usatoday.com/life/movies/2008-04-03-2435038588_x.htm |url-status=live }}</ref>

In 2009, CBS Corporation stopped using the Paramount name in its series and changed the name of the production arm to [[CBS Television Studios]], eliminating the Paramount name from television, to distance itself from the latter.

In March 2010, Paramount founded [[Insurge Pictures]], an independent distributor of "micro budget" films. The distributor planned ten movies with budgets of $100,000 each.<ref name=ip>{{cite web |url=https://www.indiewire.com/article/hollywood_studio_boosts_micro-budget_movies/ |title=Hollywood Studio to Back Micro-Budget Movies |website=IndieWire |date=March 11, 2010 |access-date=October 28, 2011 |archive-date=November 3, 2011 |archive-url=https://web.archive.org/web/20111103052632/http://www.indiewire.com/article/hollywood_studio_boosts_micro-budget_movies/ |url-status=live }}</ref> The first release was ''[[The Devil Inside (film)|The Devil Inside]]'', a movie with a budget of about US$1&nbsp;million.<ref>{{cite web |last=Levine |first=Daniel S. |url=http://thecelebritycafe.com/feature/devil-inside-makes-its-budget-back-midnight-screenings-making-2-million-01-07-2012 |title='The Devil Inside' makes its budget back in midnight screenings, making $2 million |publisher=TheCelebrityCafe.com |access-date=August 8, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150708110229/http://thecelebritycafe.com/feature/devil-inside-makes-its-budget-back-midnight-screenings-making-2-million-01-07-2012 |archive-date=July 8, 2015}}</ref> In March 2015, following waning box office returns, Paramount folded Insurge Pictures and its operations into the main studio.<ref>{{cite web | url=https://variety.com/2015/film/news/paramounts-insurge-gets-absorbed-bad-robots-the-cellar-moves-to-big-studio-1201458545/ | title=Paramount's Insurge Gets Absorbed; Bad Robot's 'The Cellar' Moves to Big Studio | work=Variety | date=March 23, 2015 | access-date=July 19, 2019 | archive-date=February 19, 2020 | archive-url=https://web.archive.org/web/20200219095556/https://variety.com/2015/film/news/paramounts-insurge-gets-absorbed-bad-robots-the-cellar-moves-to-big-studio-1201458545/ | url-status=live }}</ref>

In July 2011, in the wake of critical and box office success of the animated feature, ''[[Rango (2011 film)|Rango]]'', and the departure of DreamWorks Animation upon completion of their distribution contract in 2012, Paramount announced the formation of [[Paramount Animation|a new division]], devoted to the creation of animated productions.<ref name=pa>{{cite magazine |url=http://insidemovies.ew.com/2011/07/06/paramount-pictures-animation/ |title=Riding high off the success of 'Rango,' Paramount Pictures to launch in-house animation division |first=Aly |last=Semigran |magazine=Entertainment Weekly |date=July 6, 2011 |access-date=July 7, 2011 |archive-date=July 9, 2011 |archive-url=https://web.archive.org/web/20110709034611/http://insidemovies.ew.com/2011/07/06/paramount-pictures-animation/ |url-status=live }}</ref> It marks Paramount's return to having its own animated division for the first time since 1967, when Paramount Cartoon Studios shut down (it was formerly [[Famous Studios]] until 1956).<ref>{{cite web |url=http://www.cartoonresearch.com/paramount.html |title=The Lost Popeye Titles |publisher=Cartoonresearch.com |date=May 24, 1941 |access-date=August 8, 2015 |archive-date=June 26, 2015 |archive-url=https://web.archive.org/web/20150626172737/http://www.cartoonresearch.com/paramount.html |url-status=live }}</ref>

In December 2013, [[Walt Disney Studios (division)|Walt Disney Studios]] (via its [[The Walt Disney Company|parent company]]'s purchase of [[Lucasfilm]] a year earlier)<ref name="Schou">{{cite magazine|url=http://insidemovies.ew.com/2012/12/21/walt-disney-completes-lucasfilm-acquisition|title=Mickey meets 'Star Wars': Walt Disney Co. completes acquisition of Lucasfilm|last=Schou|first=Solvej|magazine=Entertainment Weekly|date=December 21, 2012|access-date=December 22, 2012|archive-date=December 24, 2012|archive-url=https://web.archive.org/web/20121224063248/http://insidemovies.ew.com/2012/12/21/walt-disney-completes-lucasfilm-acquisition/|url-status=live}}</ref> gained Paramount's remaining distribution and marketing rights to future ''[[Indiana Jones]]'' films. Paramount will permanently retain the distribution rights to the first four films and will receive "financial participation" from any additional films.<ref>{{cite news |last=Kroll |first=Justin |title=Disney Acquires Rights to Future 'Indiana Jones' Movies |url=https://variety.com/2013/film/news/disney-acquires-indiana-jones-rights-from-paramount-1200927216/# |access-date=December 6, 2013 |newspaper=Variety |date=December 6, 2013 |archive-date=March 19, 2016 |archive-url=https://web.archive.org/web/20160319134349/http://variety.com/2013/film/news/disney-acquires-indiana-jones-rights-from-paramount-1200927216/ |url-status=live }}</ref>

In February 2016, Viacom CEO and newly appointed chairman [[Philippe Dauman]] announced that the conglomerate was in talks to find an investor to purchase a minority stake in Paramount.<ref>{{cite web|work=Los Angeles Times |url=https://www.latimes.com/entertainment/envelope/cotown/la-et-ct-viacom-exploring-sale-of-minority-stake-in-paramount-pictures-20160223-story.html|title=Viacom exploring sale of minority stake in Paramount Pictures|date=February 24, 2016|access-date=February 18, 2020|archive-date=March 8, 2020|archive-url=https://web.archive.org/web/20200308174951/https://www.latimes.com/entertainment/envelope/cotown/la-et-ct-viacom-exploring-sale-of-minority-stake-in-paramount-pictures-20160223-story.html|url-status=live}}</ref> Sumner Redstone and his daughter Shari were reportedly opposed to the deal.<ref>{{cite web|url=https://deadline.com/2016/06/national-amusements-moves-change-viacom-bylaws-block-paramount-sale-1201768072/|title=National Amusements Pushes Change To Viacom Bylaws To Block Paramount Deal|first=David|last=Lieberman|date=June 6, 2016|access-date=February 18, 2020|archive-date=March 2, 2020|archive-url=https://web.archive.org/web/20200302090244/https://deadline.com/2016/06/national-amusements-moves-change-viacom-bylaws-block-paramount-sale-1201768072/|url-status=live}}</ref> On July 13, 2016, [[Wanda Group]] was in talks to acquire a 49% stake of Paramount.<ref>{{cite web|url=https://www.latimes.com/entertainment/envelope/cotown/la-et-ct-viacom-paramount-dalian-wanda-20160713-snap-story.html|title=China's Wanda Group is in talks to buy a 49% stake in Paramount Pictures|date=July 13, 2016|via=Los Angeles Times|access-date=February 18, 2020|archive-date=February 27, 2020|archive-url=https://web.archive.org/web/20200227215722/https://www.latimes.com/entertainment/envelope/cotown/la-et-ct-viacom-paramount-dalian-wanda-20160713-snap-story.html|url-status=live}}</ref> The talks with Wanda were dropped. On January 19, 2017, [[Shanghai Film Group Corp.]] and Huahua Media said they would finance at least 25% of all Paramount Pictures movies over a three-year period. Shanghai Film Group and Huahua Media, in the deal, would help distribute and market Paramount's features in China. At the time, the ''Wall Street Journal'' wrote that "nearly every major Hollywood studio has a co-financing deal with a Chinese company."<ref>{{Citation| last=Schwartzel| first=Erin| date=January 19, 2017| title=Paramount Pictures Gets a $1 Billion Infusion from China| work=The Wall Street Journal| location=New York City| url=https://www.wsj.com/articles/paramount-pictures-gets-a-1-billion-infusion-from-china-1484868302| access-date=January 22, 2017| archive-date=January 21, 2017| archive-url=https://web.archive.org/web/20170121234151/http://www.wsj.com/articles/paramount-pictures-gets-a-1-billion-infusion-from-china-1484868302| url-status=live}}</ref>

On March 27, 2017, [[Jim Gianopulos]] was named as a chairman and CEO of Paramount Pictures, replacing [[Brad Grey]].<ref>{{Cite news|url=https://www.hollywoodreporter.com/news/general-news/jim-gianopulos-run-paramount-pictures-viacom-984389/|title=Jim Gianopulos to Run Paramount Pictures for Viacom|work=The Hollywood Reporter|access-date=February 16, 2022|archive-date=March 27, 2017|archive-url=https://web.archive.org/web/20170327203511/http://www.hollywoodreporter.com/news/jim-gianopulos-run-paramount-pictures-viacom-984389|url-status=live}}</ref>
In June 2017, [[Paramount Players]] was formed by the studio with the hiring of [[Brian Robbins]], founder of [[AwesomenessTV]], Tollin/Robbins Productions and Varsity Pictures, as the division's president. The division was expected to produce films based on the [[Viacom Media Networks]] properties including [[MTV]], [[Nickelodeon]], [[BET]] and [[Comedy Central]].<ref>{{cite news|last1=McNary|first1=Dave|title=Paramount Pictures Launches New Production Division Headed by Brian Robbins|url=https://variety.com/2017/film/news/paramount-pictures-brian-robbinsparamount-players-1202457210/|access-date=June 30, 2017|work=Variety|date=June 7, 2017|archive-date=December 19, 2019|archive-url=https://web.archive.org/web/20191219133130/https://variety.com/2017/film/news/paramount-pictures-brian-robbinsparamount-players-1202457210/|url-status=live}}</ref> In June 2017, Paramount Pictures signed a deal with [[20th Century Fox]] for distribution of its films in Italy, which took effect on September. Prior to the deal, Paramount's films in Italy were distributed by [[Universal Pictures]], a deal that dates back to the CIC era.<ref name=vty/>

On December 7, 2017, it was reported that Paramount sold the international distribution rights of ''[[Annihilation (film)|Annihilation]]'' to [[Netflix]].<ref>{{cite web |url=https://www.hollywoodreporter.com/movies/movie-news/annihilation-how-a-clash-between-producers-led-a-netflix-deal-1065465/|title='Annihilation': Behind-the-Scenes of a Producer Clash and That Netflix Deal (Exclusive) |work=The Hollywood Reporter |date=December 7, 2017 |access-date=February 16, 2022 |archive-date=February 1, 2018 |archive-url=https://web.archive.org/web/20180201023903/https://www.hollywoodreporter.com/heat-vision/annihilation-how-a-clash-between-producers-led-a-netflix-deal-1065465 |url-status=live }}</ref> Netflix subsequently bought the worldwide rights to ''[[The Cloverfield Paradox]]'' for $50&nbsp;million.<ref name="sb">{{cite web | url = https://deadline.com/2018/02/cloverfield-sequel-god-particle-super-bowl-trailer-netflix-streaming-release-1202276386/ | title = Netflix's Ultimate Super Bowl Surprise: 'The Cloverfield Paradox' – Watch Trailer | first = Anthony | last = D'Alessandro | date = February 4, 2018 | access-date = February 4, 2018 | website = [[Deadline Hollywood]] | archive-date = February 5, 2018 | archive-url = https://web.archive.org/web/20180205003638/http://deadline.com/2018/02/cloverfield-sequel-god-particle-super-bowl-trailer-netflix-streaming-release-1202276386/ | url-status = live }}</ref> On November 16, 2018, Paramount signed a multi-picture film deal with Netflix as part of Viacom's growth strategy, making Paramount the first major film studio to do so.<ref>{{cite web|last1=Hayes|first1=Dade|title=Paramount and Netflix Set Multi-Picture Film Deal|url=https://deadline.com/2018/11/paramount-and-netflix-multi-picture-film-deal-1202503315/|work=Deadline Hollywood|date=November 16, 2018|access-date=November 22, 2018|archive-date=November 23, 2018|archive-url=https://web.archive.org/web/20181123154133/https://deadline.com/2018/11/paramount-and-netflix-multi-picture-film-deal-1202503315/|url-status=live}}</ref>

In April 2018, Paramount posted its first quarterly profit since 2015.<ref>{{cite news|url=https://www.mediaplaynews.com/paramount-posts-first-quarterly-profit-since-2015/|title=Paramount Posts First Quarterly Profit|newspaper=Media Play News|publisher=[[JCH Media Inc.]]|access-date=April 25, 2018|archive-date=April 26, 2018|archive-url=https://web.archive.org/web/20180426075849/https://www.mediaplaynews.com/paramount-posts-first-quarterly-profit-since-2015/|url-status=live}}</ref> [[Robert Bakish|Bob Bakish]], CEO of parent Viacom, said in a statement that turnaround efforts "have firmly taken hold as the studio improved margins and returned to profitability. This month's outstanding box-office performance of ''[[A Quiet Place (film)|A Quiet Place]]'', the first film produced and released under the new team at Paramount, is a clear sign of our progress."
[[File:Paramount Studios at Night.jpg|thumb|Paramount Studios watertower and Stage 25 in 2024]]

=== 2019–present: ViacomCBS/Paramount Global era ===

On September 29, 2016, [[National Amusements]] sent a letter to both CBS Corporation and Viacom, encouraging the two companies to [[2019 merger of CBS and Viacom|merge back into one company]].<ref>{{cite news |title=National Amusements Proposes Viacom, CBS Reunion, Cites "Substantial Synergies" |newspaper=The Hollywood Reporter |url=https://www.hollywoodreporter.com/news/general-news/national-amusements-calls-viacom-cbs-933705/ |url-status=live |access-date=February 16, 2022 |archive-url=https://web.archive.org/web/20161215111701/http://www.hollywoodreporter.com/news/national-amusements-calls-viacom-cbs-933705 |archive-date=December 15, 2016}}</ref> On December 12, the deal was called off.<ref>{{cite news |title=Shari Redstone withdraws CBS-Viacom merger proposal |newspaper=[[CNBC]] |publisher=[[NBCUniversal]] |url=https://www.cnbc.com/2016/12/12/shari-redstone-withdraws-cbs-viacom-merger-proposal.html |url-status=live |access-date=February 16, 2022 |archive-url=https://web.archive.org/web/20171001074904/https://www.cnbc.com/amp/2016/12/12/shari-redstone-withdraws-cbs-viacom-merger-proposal.html |archive-date=October 1, 2017}}</ref> On May 30, 2019, [[CNBC]] reported that CBS and Viacom would explore merger discussions in mid-June 2019.<ref>{{Cite news |last=James |first=Meg |date=May 30, 2019 |title=CBS and Viacom merger negotiations expected to resume |work=Los Angeles Times |url=https://www.latimes.com/business/hollywood/la-fi-ct-cbs-viacom-merger-talks-20190530-story.html |url-status=live |access-date=June 2, 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 |archive-date=June 1, 2019}}</ref> Reports say that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies.<ref>{{Cite news |last=Munson |first=Ben |date=July 16, 2019 |title=CBS, Viacom set early August deadline for remerger agreement – report |work=FierceVideo |url=https://www.fiercevideo.com/video/cbs-viacom-want-remerger-deal-set-by-early-august-report |url-status=live |access-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 |archive-date=July 20, 2019}}</ref><ref>{{Cite news |last=Littleton |first=Synthia |date=July 19, 2019 |title=CBS, Viacom Boards Wrestle With Post-Merger Management Decisions, Ending COO Role (EXCLUSIVE) |work=Variety |url=https://variety.com/2019/biz/news/cbs-viacom-boards-wrestle-with-post-merger-management-decisions-ending-coo-role-exclusive-1203273848/ |url-status=live |access-date=July 20, 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/ |archive-date=July 31, 2019}}</ref> CBS announced to acquire Viacom as part of the re-merger for up to $15.4&nbsp;billion.<ref>{{Cite news |date=July 19, 2019 |title=How a Merged CBS-Viacom Could Try to Compete with Hollywood Giants |work=[[The Hollywood Reporter]] |url=https://www.hollywoodreporter.com/news/general-news/how-a-merged-cbs-viacom-could-try-compete-hollywood-giants-1225453/ |url-status=live |access-date=February 16, 2022 |archive-url=https://web.archive.org/web/20190731043244/https://www.hollywoodreporter.com/news/how-a-merged-cbs-viacom-could-try-compete-hollywood-giants-1225453 |archive-date=July 31, 2019}}</ref> On August 2, 2019, the two companies agreed to remerge back into one entity,<ref>{{cite news |date=August 2, 2019 |title=CBS, Viacom Reach Tentative Deal on Team to Lead Combined Company |newspaper=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/cbs-viacom-reach-working-agreement-on-combined-company-s-leadership-team-11564774333 |url-status=live |url-access=subscription |access-date=August 3, 2019 |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 |archive-date=March 9, 2021}}</ref> which was named ViacomCBS; the deal was closed on December 4, 2019.<ref>{{Cite web |date=December 4, 2019 |title=Viacom and CBS Corp. are officially back together again |url=https://www.cbsnews.com/news/viacom-cbs-merger-stock-companies-are-officially-back-together-again/ |url-status=live |archive-url=https://web.archive.org/web/20191205031555/https://www.cbsnews.com/news/viacom-cbs-merger-stock-companies-are-officially-back-together-again/ |archive-date=December 5, 2019 |access-date=December 5, 2019 |work=[[CBS News]]}}</ref>

In December 2019, ViacomCBS agreed to purchase a 49% stake in [[Miramax]] that was owned by [[beIN Media Group]], with Paramount gaining the distribution of the studio's 700-film library, as well as its future releases. Also, Paramount would produce television series based on Miramax's IPs.<ref>{{cite web |last=D'Alessandro |first=Anthony |date=December 20, 2019 |title=ViacomCBS Taking 49% Stake in Miramax for $375M |url=https://deadline.com/2019/12/viacom-miramax-library-talks-resume-1202805735 |url-status=dead |archive-url=https://web.archive.org/web/20191220174310/https://deadline.com/2019/12/viacom-miramax-library-talks-resume-1202805735/ |archive-date=December 20, 2019 |access-date=December 20, 2019 |work=[[Deadline Hollywood]]}}</ref> The deal officially closed on April 3, 2020.<ref>{{Cite web |last=Goldsmith |first=Jill |date=April 3, 2020 |title=ViacomCBS Closes Purchase Of Stake In Miramax, With Distribution And First Look Deals |url=https://deadline.com/2020/04/viacomcbs-deal-stake-miramax-closes-1202899997/ |url-status=live |archive-url=https://web.archive.org/web/20200412034543/https://deadline.com/2020/04/viacomcbs-deal-stake-miramax-closes-1202899997/ |archive-date=April 12, 2020 |access-date=April 3, 2020 |website=Deadline |language=en}}</ref> ViacomCBS later announced that it would rebrand the [[Paramount+|CBS All Access]] streaming service as Paramount+ to allow for international expansion using the widely recognized Paramount name and drawing from the studio's library, as well as that of CBS, MTV, Nickelodeon, and more.<ref>{{Cite web |last=Littleton |first=Cynthia |date=September 15, 2020 |title=CBS All Access to Rebrand as Paramount Plus Early Next Year |url=https://variety.com/2020/tv/news/cbs-all-access-paramount-plus-rebrand-game-godfather-1234769980/ |url-status=live |archive-url=https://web.archive.org/web/20201125143858/https://variety.com/2020/tv/news/cbs-all-access-paramount-plus-rebrand-game-godfather-1234769980/ |archive-date=November 25, 2020 |access-date=September 15, 2020 |website=Variety |language=en}}</ref>

Gianopulos was fired in September 2021 and replaced by Nickelodeon president Brian Robbins.<ref>{{cite web |last=Hayes |first=Dade |title=Paramount Pictures Revamp Made Official By ViacomCBS: Jim Gianopulos Exits, Brian Robbins Takes Over; David Nevins Adds Par TV To Portfolio |date=September 13, 2021 |url=https://deadline.com/2021/09/paramount-pictures-revamp-viacomcbs-jim-gianopulos-brian-robbins-david-nevins-1234832516/ |publisher=Deadline |access-date=September 17, 2021 |archive-date=September 17, 2021 |archive-url=https://web.archive.org/web/20210917020921/https://deadline.com/2021/09/paramount-pictures-revamp-viacomcbs-jim-gianopulos-brian-robbins-david-nevins-1234832516/ |url-status=live }}</ref>

In January 2022, Paramount Pictures acquired the rights to [[Tomi Adeyemi]]'s young adult fantasy novel ''[[Children of Blood and Bone]]'' from [[Lucasfilm]] and [[20th Century Studios]]. As part of the acquisition, the film will have a guaranteed exclusive theatrical release while Adeyemi will write the screenplay and serve as executive producer. The film adaptation will also be produced by [[Temple Hill Entertainment]] and Sunswept Entertainment.<ref>{{Cite web|last=Kroll|first=Justin|date=January 12, 2022|title=Paramount Pictures Lands Rights To Tomi Adeyemi Best-Selling YA Book Series 'Children Of Blood And Bone'|url=https://deadline.com/2022/01/paramount-pictures-tomi-adeyemi-children-of-blood-and-bone-1234908812/|website=Deadline|access-date=January 12, 2022|archive-url=https://web.archive.org/web/20220123204756/https://deadline.com/2022/01/paramount-pictures-tomi-adeyemi-children-of-blood-and-bone-1234908812/|archive-date=January 23, 2022|url-status=live}}</ref><ref>{{cite news |last1=Kit |first1=Borys |title=Lucasfilm Rethinks Its Non-'Star Wars' Slate |url=https://www.hollywoodreporter.com/movies/movie-news/lucasfilm-rethinks-its-non-star-wars-slate-1235078906/ |access-date=January 26, 2022 |work=[[The Hollywood Reporter]] |date=January 21, 2022 |archive-url=https://web.archive.org/web/20220124224913/https://www.hollywoodreporter.com/movies/movie-news/lucasfilm-rethinks-its-non-star-wars-slate-1235078906/ |archive-date=January 24, 2022|url-status=live}}</ref>

On February 16, 2022, ViacomCBS changed its name to [[Paramount Global]], after the studio.<ref>{{Cite web |title=ViacomCBS announces new company name: Paramount |url=https://www.cbsnews.com/news/paramount-viacomcbs-name-change-company/ |url-status=live |archive-url=https://web.archive.org/web/20220217011740/https://www.cbsnews.com/news/paramount-viacomcbs-name-change-company/ |archive-date=February 17, 2022 |access-date=February 17, 2022 |website=CBS News |date=February 16, 2022 |language=en-US}}</ref>

On March 8, 2022, Paramount Players' operations were folded into Paramount Pictures Motion Picture Group.<ref>{{cite web |last=D'Alessandro |first=Anthony |title=Paramount Players Merged Under Studio Co-Heads Mike Ireland and Daria Cercek; Jeremy Kramer Departing |url=https://deadline.com/2022/03/paramount-players-merged-under-studio-co-heads-mike-ireland-and-daria-cercek-jeremy-kramer-departing-1234973697/ |website=Deadline |access-date=March 8, 2022 |date=March 8, 2022 |archive-date=March 8, 2022 |archive-url=https://web.archive.org/web/20220308202950/https://deadline.com/2022/03/paramount-players-merged-under-studio-co-heads-mike-ireland-and-daria-cercek-jeremy-kramer-departing-1234973697/ |url-status=live }}</ref> However, it will continue to operate as a label as it has several upcoming films on its slate.

On November 15, 2022, Paramount entered a multi-year exclusive deal with former president of [[DC Films]] [[Walter Hamada]]. Hamada oversaw the development of horror films beginning in 2023.<ref>{{cite news |author1=Charles Pulliam-Moore |title=Walter Hamada is joining Paramount Pictures following his Warner Bros. Discovery exit |url=https://www.theverge.com/2022/11/15/23460747/walter-hamada-dc-films-paramount-pictures-the-conjuring-aquaman-warner-bros-discovery |access-date=November 17, 2022 |work=The Verge |date=November 15, 2022}}</ref>