Paramount Pictures Corporation (commonly known as Paramount Pictures or simply Paramount, and formerly known as Famous Players-Lasky Corporation) is a film studio, television production company and motion picture distributor, consistently ranked as one of the "Big Six" film studios of Hollywood. It is a subsidiary of U.S. media conglomerate Viacom. Paramount is a member of the Motion Picture Association of America (MPAA). It has distributed several successful film series, such as Transformers, Mission: Impossible, Marvel Cinematic Universe (2008–11), Indiana Jones (1981–2008), The Godfather, Star Trek, Jack Ryan, Jackass, The Bad News Bears, Beverly Hills Cop, "Crocodile" Dundee, Paranormal Activity, Friday the 13th and G.I. Joe. It's the world's fourth oldest major film studio, the third being Universal Studios, the two oldest being the French studios Gaumont Film Company and Pathé.
In 2014, Paramount Pictures was the first major Hollywood studio to distribute all its films in digital-form only.
Paramount is the fifth oldest surviving film studio in the world after Gaumont Film Company (1895), Pathé (1896), Nordisk Film, (1906), and before Universal Studios. It is the last major film studio still headquartered in the Hollywood district of Los Angeles.
On December 11, 2005, The Paramount Motion Pictures Group announced that it had purchased DreamWorks SKG (which was co-founded by former Paramount executive Jeffrey Katzenberg) in a deal worth $1.6 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." The agreement does not include DreamWorks Animation SKG Inc., the most profitable part of the company that went public the previous year.
Independent company Hollywood Classics now represents Paramount in the theatrical distribution of all the films produced by the various motion picture divisions of CBS over the years, as a result of the Viacom/CBS merger.
Paramount (via CBS Home Entertainment) has outright video distribution to the aforementioned CBS library with few exceptions-for example, the original Twilight Zone DVDs are handled by Image Entertainment. Until 2009, the video rights to My Fair Lady were with original theatrical distributor Warner Bros., under license from CBS (the video license to that film has now reverted to CBS Home Entertainment under Paramount).
The CBS-produced/owned films, unlike other films in Paramount's library, are still distributed by CBS Television Distribution on TV, and not by Trifecta Entertainment & Media, because CBS (or a subdivision) is the copyright holder for these films.
Source: Wikipedia.
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