Key Takeaways
- Who owns CBS? CBS is part of Paramount Skydance Corporation, the parent company behind the Paramount media business.
- Paramount Skydance became CBS’s current corporate parent after the Paramount-Skydance transaction closed on August 7, 2025.
- Paramount Global, the former parent of CBS, became a wholly owned subsidiary of Paramount Skydance Corporation.
- CBS is not a separately publicly traded company.
- The Ellison family is Paramount Skydance’s controlling stockholder through Harbor Lights Entertainment, formerly National Amusements.
- As of June 30, 2026, entities controlled by Lawrence J. Ellison and David Ellison indirectly held approximately 77.5% of Paramount Skydance’s voting Class A common stock.
- David Ellison is Paramount’s CEO and chairman of its board.
- Paramount Skydance’s publicly traded Class B common stock trades on Nasdaq under the ticker PSKY.
- CBS remains one of Paramount’s major media businesses, alongside CBS News, CBS Sports, Paramount Pictures, Paramount+, Nickelodeon and other brands.
Quick Answer: Who Owns CBS?
Who owns CBS? CBS is part of Paramount Skydance Corporation, the publicly traded media company created through the 2025 combination of Paramount Global and Skydance.
The important thing to understand is that CBS did not become a separate company after the deal. CBS was already part of Paramount Global, and the 2025 transaction placed Paramount Global under the new Paramount Skydance structure.
Paramount’s 2026 filings describe the CBS Television Network, CBS Stations, CBS News and CBS Sports as part of the company’s operations. Paramount’s current corporate materials also list CBS, CBS News and CBS Sports among its major brands.
At the ownership-control level, the picture is a little more complicated.
The Ellison family, consisting of Lawrence J. Ellison and David Ellison, controls Paramount Skydance through its ownership interest in Harbor Lights Entertainment. As of June 30, 2026, entities controlled by the Ellison family indirectly held approximately 77.5% of Paramount’s voting Class A common stock.
So the simplest accurate answer is:
CBS is part of Paramount Skydance Corporation, which is controlled by the Ellison family.
That does not mean Lawrence Ellison or David Ellison personally owns CBS outright. The ownership runs through a corporate structure.
The Current CBS Ownership Structure
It helps to look at the structure from the top down.
| Level | Current ownership or role |
|---|---|
| CBS | Part of Paramount Skydance’s media business |
| Corporate parent | Paramount Skydance Corporation |
| Public company ticker | PSKY |
| Publicly traded stock | Class B common stock |
| Voting control | Class A common stock |
| Controlling stockholder | Ellison family |
| Holding company for Class A stock | Harbor Lights Entertainment |
| Ellison family members | Lawrence J. Ellison and David Ellison |
| Paramount CEO | David Ellison |
| Paramount board chairman | David Ellison |
This structure is why simply saying “David Ellison owns CBS” would be inaccurate. David Ellison is one of the people behind the controlling ownership group, but CBS itself is part of Paramount Skydance’s corporate structure.
How CBS Became Part of Paramount
CBS has been through several major corporate changes over the past decade.
CBS and Viacom were once separate companies, although both had roots in the larger media empire associated with National Amusements. In 2019, CBS Corporation and Viacom combined to form ViacomCBS.
The company later changed its name to Paramount Global in 2022.
At that point, CBS operated under Paramount Global alongside businesses such as Paramount Pictures, MTV, Nickelodeon, Comedy Central and other media properties.
That structure lasted until 2025.
The next major change came when Paramount Global and Skydance joined under a new parent company, Paramount Skydance Corporation. The transaction closed on August 7, 2025. SEC filings confirm that Paramount Global and Skydance became wholly owned subsidiaries of Paramount Skydance Corporation as part of the transaction.
That is the event that changed the answer to who owns CBS at the corporate-parent level.
What Happened on August 7, 2025?
The 2025 transaction involved two closely connected steps.
First, investors associated with Skydance and RedBird Capital Partners acquired National Amusements, the company that had previously been Paramount Global’s controlling stockholder.
Second, Paramount Global and Skydance became wholly owned subsidiaries of Paramount Skydance Corporation.
National Amusements was subsequently renamed Harbor Lights Entertainment, Inc.
Harbor Lights became the entity holding Paramount Skydance’s Class A common stock. Paramount’s filings state that Harbor Lights holds 100% of Paramount Skydance’s Class A common stock, while entities controlled by the Ellison family indirectly own approximately 77.5% of that Class A stock through their ownership interest in Harbor Lights.
That distinction matters because it explains how the Ellison family has voting control without simply owning 100% of Paramount Skydance.
Who Controls Paramount Skydance?
The Ellison family controls Paramount Skydance.
Paramount’s latest available filing covering June 30, 2026 identifies the Ellison family as the company’s controlling stockholder. It says the family indirectly held approximately 77.5% of Paramount’s voting Class A common stock through its ownership interest in Harbor Lights Entertainment.
The same filing identifies the Ellison family as:
- Lawrence J. Ellison
- David Ellison
Lawrence Ellison is the founder and chairman of Oracle, while David Ellison is the CEO of Paramount and chairman of Paramount’s board.
There is an important difference between ownership and voting control here.
Paramount Skydance has two classes of common stock. The Class A shares carry voting rights, while the publicly traded Class B shares are the securities listed on Nasdaq.
Therefore, the Ellison family’s approximately 77.5% figure refers specifically to voting Class A stock, not 77.5% of CBS itself.
Does the Ellison Family Own CBS?
Not directly.
This is one of the easiest parts of the CBS ownership story to misunderstand.
CBS is a business within Paramount Skydance. The Ellison family controls Paramount Skydance through voting ownership, but that does not mean the two Ellisons personally hold CBS shares as though CBS were an independent company.
A more accurate way to describe the structure is:
CBS → Paramount Skydance Corporation → controlled by the Ellison family
The 77.5% figure applies to Paramount Skydance’s voting Class A common stock. It should not be presented as “the Ellison family owns 77.5% of CBS.”
Paramount’s filing also reports that the Ellison family held approximately 47.2% of Paramount’s Class A and non-voting Class B common stock on a combined basis as of June 30, 2026.
That is another reason why the 77.5% number should always be described specifically as voting Class A ownership.
Is CBS a Publicly Traded Company?
No.
CBS does not currently have its own publicly traded stock ticker.
If someone wants to invest in the publicly traded company that owns the CBS business, the relevant company is Paramount Skydance Corporation.
Paramount Skydance’s Class B common stock trades on the Nasdaq Stock Market under the ticker PSKY. Paramount’s 2026 SEC filing lists PSKY as the trading symbol for its Class B common stock.
So:
- CBS → not separately publicly traded
- Paramount Skydance → publicly traded
- Nasdaq ticker → PSKY
This distinction is useful because older articles may still refer to Paramount Global’s former stock structure, which no longer represents the current corporate setup.
What Does Paramount Skydance Own?
CBS is only one part of Paramount’s much larger media portfolio.
Paramount’s current business is organized into three main segments:
Studios
The Studios segment includes television and film operations such as:
- CBS Studios
- Paramount Television Studios
- Paramount Pictures
- Paramount Animation
- Nickelodeon Animation
- Miramax
- Skydance Animation
- Skydance Film
- Skydance Television
- Skydance Interactive and Games
Paramount’s 2026 reporting specifically lists CBS Studios within its Studios segment.
Direct-to-Consumer
This segment includes streaming and related businesses such as:
- Paramount+
- Pluto TV
- BET+
- Paramount+ with Showtime
TV Media
This is the part of the company most directly associated with CBS’s television operations.
Paramount says its TV Media segment includes the CBS Television Network, CBS Stations, CBS Sports Network, CBS Media Ventures and CBS News 24/7, along with other domestic and international networks.
This makes it clear that CBS remains deeply integrated into Paramount’s current operating structure.
Who Owns CBS News?
CBS News is part of the CBS business within Paramount’s structure.
Paramount’s filings describe CBS News as part of the CBS Television Network’s operations, while CBS News 24/7 is included among the digital properties in the TV Media segment.
Therefore, the corporate answer to who owns CBS News ultimately leads back to Paramount Skydance Corporation.
There is still an important distinction between ownership and editorial management. A parent company owns the business, while journalists and editors handle the newsroom’s day-to-day editorial work.
Paramount also announced in October 2025 that it had acquired The Free Press and that Bari Weiss would join CBS News as editor-in-chief.
That announcement was part of Paramount’s broader strategy for CBS News, but it did not change the company’s overall ownership structure.
Who Owned CBS Before Paramount Skydance?
The answer depends on the period being discussed.
Before 2019, CBS was operated through CBS Corporation.
In 2019, CBS Corporation and Viacom merged, creating ViacomCBS.
In 2022, ViacomCBS changed its name to Paramount Global.
Paramount Global was then acquired and reorganized under Paramount Skydance Corporation in the 2025 transaction.
So a simplified timeline looks like this:
| Period | Corporate structure |
|---|---|
| Before 2019 | CBS Corporation |
| 2019–2022 | ViacomCBS |
| 2022–August 2025 | Paramount Global |
| August 2025 onward | Paramount Skydance Corporation |
This is why different websites can give different answers when you search who owns CBS. Some pages are based on older corporate structures and have not been updated.
What Was National Amusements’ Role?
National Amusements is important to the story because it was the controlling stockholder of Paramount Global before the 2025 transaction.
On August 7, 2025, entities associated with the Ellison family and affiliates of RedBird Capital Partners acquired the outstanding equity interests of National Amusements.
National Amusements was then renamed Harbor Lights Entertainment, Inc.
Harbor Lights now sits inside the ownership structure above Paramount Skydance’s voting Class A stock.
So it would be outdated to say that National Amusements is still the company directly controlling Paramount under its old name.
The current name is Harbor Lights Entertainment.
Does Paramount Own CBS?
Yes, in the practical corporate sense.
Paramount Skydance’s own materials identify CBS as one of the company’s major brands and businesses. Its SEC filings also identify the CBS Television Network, CBS Stations, CBS Studios and CBS News-related operations within its business segments.
However, it is more precise to say that CBS is part of Paramount Skydance Corporation’s corporate structure than to describe CBS as an independent company that Paramount simply purchased as a standalone business.
CBS was already part of Paramount Global before the 2025 transaction.
The 2025 transaction changed the parent company above Paramount Global.
Is CBS Owned by Oracle?
No.
Oracle and Paramount Skydance are separate companies.
The confusion comes from Lawrence J. Ellison.
Lawrence Ellison is chairman and a significant stockholder of Oracle, but his involvement with Oracle does not make Oracle the owner of CBS.
Paramount’s 2026 filing specifically identifies Lawrence Ellison as chairman and a significant stockholder of Oracle while separately identifying him and David Ellison as the Ellison family controlling Paramount.
Paramount also has business relationships with Oracle, including software and cloud services agreements. Those commercial relationships do not mean Oracle owns Paramount or CBS.
So the correct answer is:
Oracle does not own CBS.
Is David Ellison the Owner of CBS?
Not personally.
David Ellison is an important figure in Paramount’s ownership and management structure, but calling him the sole owner of CBS would be incorrect.
Paramount identifies David Ellison as both CEO and chairman of the board. He is also part of the Ellison family that controls Paramount’s voting Class A stock.
The corporate structure is therefore more accurately described as:
David Ellison → part of the controlling Ellison family → Paramount Skydance → CBS
That is very different from saying David Ellison personally owns 100% of CBS.
Is CBS Still Part of Paramount in 2026?
Yes.
As of August 19, 2026, CBS remains part of Paramount Skydance’s portfolio.
Paramount’s July 2026 corporate announcement lists CBS, CBS News and CBS Sports among its major brands. Its second-quarter 2026 materials also discuss CBS’s performance within the company’s TV Media operations.
Paramount is also pursuing its proposed acquisition of Warner Bros. Discovery in 2026, but that transaction is separate from CBS’s existing ownership structure. As of August 19, 2026, regulatory approvals for the proposed transaction were still part of the process, so it should not be described as a completed acquisition.
That point is worth mentioning because future corporate changes should not be confused with CBS’s current ownership.
Why Do People Get CBS Ownership Wrong?
The main reason is that CBS has changed corporate parents several times.
Someone using an older article might see:
CBS Corporation
Another source might say:
ViacomCBS
A more recent source might say:
Paramount Global
And the current answer is:
Paramount Skydance Corporation
All of those names can appear in legitimate discussions of CBS, but they refer to different points in the company’s corporate history.
The 2025 transaction is the key reason the current answer is different.
CBS Ownership vs. CBS Management
Another useful distinction is between who owns CBS and who runs CBS.
Ownership describes the corporate structure and the shareholders who ultimately control the parent company.
Management refers to the executives responsible for running Paramount and its businesses.
David Ellison is Paramount’s CEO and board chairman, but that does not make him the sole owner of every Paramount business.
Likewise, CBS has its own executives, journalists, producers and business leaders who handle the day-to-day operation of CBS-related businesses.
So when someone asks who owns CBS, the answer should focus on the corporate parent rather than confusing ownership with individual management positions.
Conclusion
The current CBS ownership structure is much easier to understand once the layers are separated.
CBS is part of Paramount Skydance Corporation.
Paramount Skydance was established as the new parent company when the Paramount Global and Skydance transaction closed on August 7, 2025.
Paramount Global, which previously sat above CBS, became a wholly owned subsidiary of Paramount Skydance Corporation.
At the top of the voting structure is the Ellison family.
As of June 30, 2026, entities controlled by Lawrence J. Ellison and David Ellison indirectly held approximately 77.5% of Paramount Skydance’s voting Class A common stock through Harbor Lights Entertainment.
Paramount Skydance’s Class B common stock is publicly traded on Nasdaq under PSKY. CBS itself does not have a separate public stock ticker.
So if you want the shortest accurate answer to who owns CBS, it is:
CBS is part of Paramount Skydance Corporation, which is controlled by the Ellison family through voting ownership of Paramount Skydance.
That wording is more accurate than saying the Ellison family personally owns CBS or that the family owns 100% of Paramount.
Frequently Asked Questions
Who owns CBS today?
CBS is part of Paramount Skydance Corporation, the parent company created through the 2025 Paramount Global-Skydance transaction.
Who controls CBS?
CBS sits within Paramount Skydance. The Ellison family controls Paramount Skydance through its voting ownership. As of June 30, 2026, entities controlled by Lawrence J. Ellison and David Ellison indirectly held approximately 77.5% of Paramount’s voting Class A stock.
Does David Ellison own CBS?
No. David Ellison is Paramount’s CEO and chairman and is part of the Ellison family that controls Paramount. He is not the sole personal owner of CBS.
Does Lawrence Ellison own CBS?
Not directly. Lawrence Ellison is part of the controlling Ellison family behind Paramount Skydance. CBS is held within Paramount’s corporate structure.
Does Paramount own CBS?
Yes. CBS is part of Paramount Skydance’s current portfolio and operating structure.
Is CBS publicly traded?
No. CBS does not have a separate publicly traded stock. Paramount Skydance Corporation is publicly traded, and its Class B common stock trades on Nasdaq under PSKY.
Is CBS still part of Paramount?
Yes. CBS remains part of Paramount Skydance as of August 2026.
Is CBS owned by National Amusements?
Not under the old structure. National Amusements was acquired during the 2025 transaction and renamed Harbor Lights Entertainment. Harbor Lights now holds Paramount Skydance’s Class A common stock.
Is CBS owned by Oracle?
No. Oracle and Paramount Skydance are separate companies. Lawrence J. Ellison’s connection to Oracle does not make Oracle the owner of CBS.
Who owns CBS News?
CBS News is part of the CBS business within Paramount Skydance. Paramount’s filings include CBS News-related operations within its TV Media business.
Who owns CBS Sports?
CBS Sports is also part of Paramount’s CBS business. Paramount identifies CBS Sports among its major brands and CBS-related operations.
What company owns CBS Studios?
CBS Studios is part of Paramount Skydance’s Studios segment. Paramount’s 2026 reporting specifically lists CBS Studios alongside Paramount Television Studios, Paramount Pictures and other studio operations.
Final Answer: Who Owns CBS?
Who owns CBS? In 2026, CBS is part of Paramount Skydance Corporation.
The current structure dates to the August 7, 2025 transaction in which Paramount Global and Skydance became wholly owned subsidiaries of Paramount Skydance Corporation.
The company is publicly traded under the PSKY ticker, while CBS itself is not separately listed on a stock exchange.
The Ellison family controls Paramount Skydance through its ownership interest in Harbor Lights Entertainment. As of June 30, 2026, entities controlled by Lawrence J. Ellison and David Ellison indirectly held approximately 77.5% of Paramount’s voting Class A common stock.
The most accurate way to put it is therefore simple:
CBS is part of Paramount Skydance Corporation, and Paramount Skydance is controlled by the Ellison family.
That is the current ownership structure as of August 19, 2026, and avoids the outdated CBS Corporation, ViacomCBS and Paramount Global descriptions that still appear on older websites.
