If you search “Who Owns Paramount?”, the answer can look confusing, because Paramount has changed corporate parents, shareholders, and leadership several times.
The clearest answer today is this: the Ellison family controls Paramount through Harbor Lights Entertainment, formerly National Amusements, while Paramount Skydance Corporation is the publicly traded parent company. David Ellison is its chairman and CEO.
That distinction matters. Paramount Skydance has publicly traded Class B stock, but those shares carry no voting rights. Harbor Lights holds 100% of the company’s Class A common stock, giving the Ellison family control of Paramount’s voting power.
So if you are trying to understand who actually controls Paramount, how the 2025 Skydance merger changed ownership, and whether Paramount now owns Warner Bros. Discovery, here is the current picture.
AI Overview
Paramount is controlled by the Ellison family through Harbor Lights Entertainment, formerly National Amusements. Paramount Skydance Corporation is the public parent company, and its Class B shares trade on Nasdaq under PSKY. David Ellison serves as chairman and CEO.
The ownership structure changed on August 7, 2025, when Paramount Global and Skydance became subsidiaries of Paramount Skydance Corporation. The Ellison family indirectly controls approximately 77.5% of Paramount’s voting Class A stock through Harbor Lights.
Paramount has also agreed to acquire Warner Bros. Discovery, but that transaction has not closed as of August 2026. Warner Bros. Discovery therefore remains a separate company for now.
Key Takeaways
- The Ellison family controls Paramount through Harbor Lights Entertainment, formerly National Amusements.
- Harbor Lights holds 100% of Paramount Skydance’s Class A common stock.
- The Ellison family indirectly controls approximately 77.5% of the voting Class A stock.
- Paramount Skydance’s Class B stock trades on Nasdaq under PSKY and carries no voting rights.
- David Ellison is chairman and CEO of Paramount Skydance.
- Paramount Global and Skydance completed their merger on August 7, 2025.
- Paramount’s proposed acquisition of Warner Bros. Discovery has not closed as of August 2026.
Featured Snippet
The Ellison family controls Paramount through Harbor Lights Entertainment, formerly National Amusements. Harbor Lights owns 100% of Paramount Skydance Corporation’s Class A common stock, while Paramount’s Class B shares trade publicly on Nasdaq under PSKY. David Ellison serves as chairman and CEO of Paramount Skydance.
Who Owns Paramount Now?
There are two different questions hidden inside the phrase “who owns Paramount?”
One asks who owns the publicly traded company. The other asks who holds the voting control to make major corporate decisions.
Paramount Skydance Corporation is the public parent company. The Ellison family, however, is its controlling stockholder through Harbor Lights Entertainment.
Harbor Lights Entertainment controls the voting shares
National Amusements was Paramount Global’s controlling stockholder before the 2025 transaction.
On August 7, 2025, entities controlled by the Ellison family and affiliates of RedBird Capital Partners purchased all outstanding equity interests in National Amusements, which was subsequently renamed Harbor Lights Entertainment, Inc.
After the transaction, Harbor Lights held 100% of Paramount Skydance’s Class A common stock. The Ellison family indirectly holds approximately 77.5% of that Class A stock through its ownership of Harbor Lights.
Paramount’s SEC filings therefore identify the Ellison family as its controlling stockholder.
Paramount also has public shareholders
Paramount is not a privately held company in the ordinary sense.
Its Class B common stock trades publicly on Nasdaq under PSKY. But Paramount’s filings state that Class B shareholders have no voting rights, while Class A shares carry one vote per share.
That is why saying “the public owns Paramount” gives an incomplete picture. Public investors can own Paramount stock, but the Ellison family controls the voting structure.
Paramount ownership at a glance
| Person or entity | Role in Paramount | Why it matters |
|---|---|---|
| Ellison family | Controlling stockholder | Controls approximately 77.5% of Class A voting stock |
| Harbor Lights Entertainment | Holding company | Holds 100% of Paramount Skydance Class A stock |
| Paramount Skydance Corporation | Public parent company | Owns and operates the combined Paramount business |
| David Ellison | Chairman and CEO | Leads Paramount Skydance |
| RedBird Capital Partners | Investor | Participated in the acquisition of National Amusements |
| Public investors | Class B shareholders | Hold publicly traded PSKY shares without voting rights |
The figures above come from Paramount Skydance’s SEC filings rather than from estimates about who might hold influence behind the scenes.
How Does Paramount’s Ownership Structure Work?
The easiest way to understand Paramount’s structure is to separate ownership, voting power, and management. It runs in four layers:
- Paramount Skydance Corporation is the public company.
- Harbor Lights owns all of its Class A common stock.
- The Ellison family owns approximately 77.5% of Harbor Lights and therefore indirectly controls approximately 77.5% of Paramount’s Class A voting stock.
- David Ellison runs the company as chairman and CEO.
Class A vs. Class B stock
Paramount’s two share classes carry different rights.
| Share class | Publicly traded? | Voting rights | Main significance |
|---|---|---|---|
| Class A | No | Yes | Controls corporate voting |
| Class B | Yes | No | Publicly traded ownership interest |
Paramount’s SEC filings state that Class A shareholders receive one vote per share, while Class B shareholders have no voting rights.
This is the key reason the answer to who owns Paramount cannot be determined simply by looking at the stock market.
Economic ownership is different from voting control
Paramount’s filings also report the Ellison family’s stake in the Class A and non-voting Class B common stock on a combined basis, which is a smaller figure than the 77.5% voting-control number.
The two measure different things. One describes combined share ownership; the other describes control of the voting Class A stock.
This split between economic stake and governance power is not unique to Paramount. The question of who controls OpenAI has a similar answer, where a minority equity holder retains governance authority through special rights rather than through share count.
Who Are the Ellisons Behind Paramount?
For the purpose of determining Paramount’s controlling ownership, the company’s filings define the Ellison family as Lawrence Ellison and David Ellison. Lawrence Ellison is the founder and longtime leader associated with Oracle; David Ellison founded Skydance Media.
David Ellison holds the direct operating role. He serves as chairman and CEO of Paramount Skydance, making him the central executive responsible for running the company.
That does not mean David Ellison personally owns every Paramount share. The legally meaningful ownership structure runs through entities controlled by the Ellison family, particularly Harbor Lights.
What Role Does RedBird Capital Partners Play?
RedBird Capital Partners is part of Paramount’s ownership story, but it should not be described as Paramount’s controlling owner.
RedBird affiliates participated alongside Ellison-controlled entities in purchasing the outstanding equity of National Amusements in 2025.
The distinction matters because Paramount’s SEC filings specifically identify the Ellison family as the controlling stockholder. The simplest accurate description is that RedBird is an investment partner, while the Ellison family holds Paramount’s controlling voting position.
How Did the Skydance Merger Change Paramount?
The biggest recent ownership change happened on August 7, 2025.
On that date, the National Amusements transaction closed, and Paramount Global and Skydance became wholly owned subsidiaries of Paramount Skydance Corporation.
The transaction created the corporate structure that exists today. Paramount Global was no longer the independent public parent; Paramount Skydance Corporation became the holding company for the combined business.
What happened to National Amusements?
National Amusements had previously been Paramount Global’s controlling stockholder.
Following the 2025 transaction, it was renamed Harbor Lights Entertainment, Inc. and retained the crucial position of holding Paramount Skydance’s Class A voting stock.
National Amusements did not simply disappear from the ownership story. Its corporate identity changed, while its role in the ownership structure continued through Harbor Lights.
Who Owned Paramount Before Skydance?
Paramount’s ownership history stretches back much further than the Skydance transaction.
- Early Hollywood — Paramount Pictures eventually became part of larger corporate groups, including Gulf+Western and later Viacom.
- 1994 — Viacom acquired Paramount Communications, bringing Paramount into the corporate structure associated with Sumner Redstone and National Amusements.
- 2006 — Viacom and CBS separated.
- 2019 — The two recombined as ViacomCBS.
- 2022 — The company was renamed Paramount Global.
- 2025 — Paramount Global and Skydance combined under Paramount Skydance Corporation.
That history explains why older articles can give you an answer involving Viacom, Paramount Global, National Amusements, or Shari Redstone. Those answers describe earlier ownership structures rather than today’s controlling arrangement.
What Does Paramount Own?
The word “Paramount” can refer to both the parent company and the individual businesses within its portfolio. Paramount Skydance describes its operations through three segments:
- Studios — Paramount Pictures, Paramount Television, and Skydance’s film, television, animation, interactive, and sports businesses.
- Direct-to-Consumer — Paramount+ and Pluto TV.
- TV Media — CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, and Showtime.
This distinction is useful because people often use “Paramount” to mean the movie studio when the corporate question is actually about Paramount Skydance Corporation.
Who owns Paramount Pictures?
Paramount Pictures is part of Paramount Skydance’s studio operations. The 2025 combination brought Paramount’s existing studio business together with Skydance’s production businesses, so Paramount Pictures is not separately owned by an unrelated parent company.
Who owns Paramount+?
Paramount+ is part of Paramount Skydance’s direct-to-consumer business, alongside Pluto TV.
Is Paramount Publicly Traded?
Yes. Paramount Skydance Corporation’s Class B common stock trades on Nasdaq under the ticker PSKY. Paramount Global’s former Class A and Class B shares were delisted and cancelled following the 2025 transactions.
This creates an important distinction for investors: you can buy publicly traded Paramount stock, but owning PSKY shares does not give you the voting control held through the Class A structure.
What Happened to Paramount Global?
Paramount Global was the previous parent company.
On August 7, 2025, Paramount Global and Skydance became wholly owned subsidiaries of Paramount Skydance Corporation as part of the completed transactions.
If you find an article saying Paramount Global owns Paramount, check its publication date. It is describing the structure that existed before the Skydance merger.
Does Paramount Own Warner Bros. Discovery?
No, not as of August 2026.
Paramount Skydance agreed to acquire Warner Bros. Discovery, but the transaction remains unfinished, and legal challenges are still affecting it.
New York Attorney General Letitia James and a coalition of other state attorneys general sued to block the merger on antitrust grounds in July 2026. The parties later agreed to delay closing until a ruling on the merits or June 1, 2027, whichever comes first.
The dispute remained active in August 2026. Reuters reported on August 17 that Paramount was seeking a $1.88 billion bond from the states challenging the transaction, and on August 18 that the theater trade group Cinema United was urging the parties to settle.
So you should not describe Warner Bros. Discovery as a Paramount subsidiary today. That would turn a proposed acquisition into a completed one, which the current record does not support.
What Could Change Paramount’s Ownership in the Future?
The Warner Bros. Discovery transaction is the major uncertainty.
Paramount Skydance has agreed to acquire WBD, but the outcome depends on the remaining legal process, and the transaction continues to face antitrust litigation.
If it eventually closes, Paramount’s business would become substantially larger. That is a future possibility rather than a fact about today’s ownership, so statements about a combined Paramount-WBD should be treated as conditional.
Three Things Older Paramount Ownership Articles Get Wrong
1. Confusing Paramount Pictures with Paramount Skydance
Paramount Pictures is a studio. Paramount Skydance Corporation is the current public parent company. Using the two names interchangeably makes an ownership explanation misleading.
2. Saying David Ellison personally owns Paramount
David Ellison is Paramount’s chairman and CEO. The controlling ownership belongs to the Ellison family through the corporate structure, rather than to David Ellison personally.
3. Saying Paramount already owns Warner Bros. Discovery
The acquisition has been agreed to, but it has not closed. Legal proceedings remain an obstacle, so WBD should still be treated as a separate company.
The same test applies to any ownership headline. A reported approach or a signed agreement is not a change of ownership — the reported takeover approach for PayPal is another example of a proposal that has not established a completed transaction.
How to Check Who Controls Paramount Yourself
If you want to verify Paramount’s ownership rather than relying on an older article, use three checks.
- Read the latest filings. Look at Paramount Skydance’s SEC filings for the controlling-stockholder and share-class disclosures.
- Confirm the controlling stockholder. Check whether the filing still identifies the Ellison family in that role.
- Verify the deal status. Check the latest transaction announcements before treating Warner Bros. Discovery as part of Paramount.
This matters because corporate ownership can change faster than search results and older articles are updated.
Who Is This Ownership Explanation For?
It is useful if you are researching Paramount ownership, Paramount Skydance, Paramount Pictures, the Paramount stock ticker, David Ellison, the Ellison family, National Amusements, or the Skydance merger. It is especially useful when you encounter conflicting articles naming Paramount Global or Shari Redstone as the current owner.
If you only want to know where to watch a Paramount movie or how to use Paramount+, the corporate structure is probably unnecessary. The ownership explanation becomes relevant when your question involves corporate control, investors, mergers, shareholders, or the company’s future.
Who Owns Paramount? Final Answer
If you remember only one thing, remember the distinction between the public company and its controlling shareholder.
Paramount Skydance Corporation is the publicly traded parent company, but the Ellison family controls Paramount through Harbor Lights Entertainment, formerly National Amusements. Harbor Lights holds 100% of Paramount Skydance’s Class A voting stock, and the Ellison family indirectly controls approximately 77.5% of that voting stock.
David Ellison runs the company as chairman and CEO. Paramount’s Class B stock trades publicly on Nasdaq under PSKY, but those shares carry no voting rights.
The story may change if Paramount’s proposed Warner Bros. Discovery acquisition eventually closes. For now, WBD remains separate, and the Ellison family remains the controlling force behind Paramount.
The simplest answer to “Who Owns Paramount?” is therefore: the Ellison family controls it, Paramount Skydance operates it, and public investors own its traded Class B shares.
Frequently Asked Questions
Who owns Paramount now?
The Ellison family is the controlling stockholder of Paramount through Harbor Lights Entertainment, formerly National Amusements. Harbor Lights holds 100% of Paramount Skydance Corporation’s Class A common stock. Paramount’s Class B shares trade publicly on Nasdaq under PSKY.
Who is the CEO of Paramount?
David Ellison is the chairman and CEO of Paramount Skydance Corporation. He founded Skydance Media and became Paramount’s chief executive when the Paramount-Skydance transaction closed in August 2025.
Does Larry Ellison own Paramount?
Paramount’s SEC filings identify Lawrence Ellison and David Ellison together as the Ellison family for the purpose of determining controlling ownership. The filings therefore establish family-level control rather than supporting a claim that Larry Ellison personally owns every Paramount share.
Does Shari Redstone still own Paramount?
No. The shareholders of National Amusements sold their interests in the company as part of the August 7, 2025 transaction. Entities controlled by the Ellison family and affiliates of RedBird Capital Partners acquired National Amusements, which was later renamed Harbor Lights Entertainment.
Is Paramount publicly traded?
Yes. Paramount Skydance Corporation’s Class B common stock trades on Nasdaq under the ticker PSKY. The company’s SEC filings state that Class B shareholders have no voting rights, while Class A shares carry the voting power.
Who owns Paramount Pictures?
Paramount Pictures is part of Paramount Skydance’s studio business. The 2025 merger combined Paramount’s studio operations with Skydance’s film, television, animation, interactive, and sports businesses under the Paramount Skydance corporate structure.
Who owns Paramount+?
Paramount+ is part of Paramount Skydance’s direct-to-consumer business. Pluto TV is also included in that portfolio.
Does Paramount own Warner Bros. Discovery?
No, not currently. Paramount Skydance agreed to acquire Warner Bros. Discovery, but the transaction has not closed and continues to face antitrust litigation.
What happened to Paramount Global?
Paramount Global became part of the new Paramount Skydance structure when Paramount Global and Skydance became wholly owned subsidiaries of Paramount Skydance Corporation on August 7, 2025. Paramount Skydance then became the holding company of the combined business.
