If you’ve ever sat through the credits of 60 Minutes or Survivor, you’ve seen the logos flash by. For years, it was the "Eye" and maybe a mention of Viacom. But things in the media world move fast—like, "billion-dollar-merger-while-you-were-sleeping" fast. Honestly, if you still think CBS is just CBS, you’re missing a massive, messy, and fascinating corporate drama.
The current parent company of CBS is officially Paramount Skydance Corporation (though most people just call it Paramount).
Wait. Didn't it used to be Paramount Global? Yes. And before that, ViacomCBS. And before that, just CBS Corporation. It’s a lot. Basically, the ownership of the "Tiffany Network" has been a game of corporate musical chairs for the last two decades. As of early 2026, the music has finally stopped—at least for now—with a tech-heavy, Hollywood-backed powerhouse led by David Ellison.
The Big Shift: From Redstone to Ellison
For decades, the name behind the parent company of CBS was Redstone. Sumner Redstone, the legendary and often feared media mogul, controlled everything through a private holding company called National Amusements. When he passed away in 2020, his daughter Shari Redstone took the reins.
She pulled off what many thought was impossible: re-merging CBS and Viacom in 2019 to create ViacomCBS (later renamed Paramount Global). She wanted scale. She wanted to fight Netflix and Disney. But the streaming wars are brutal. By 2024, the company was drowning in debt, and the rumors started swirling.
The Skydance Merger of 2025
The most recent—and biggest—change happened in August 2025. After months of "will-they-won't-they" negotiations that felt like a season of Succession, Skydance Media (founded by David Ellison, son of Oracle billionaire Larry Ellison) officially completed its merger with Paramount Global.
This wasn't just a name change. It was a total regime shift. National Amusements, the Redstone family's vehicle for control, was effectively absorbed. David Ellison is now the Chairman and CEO, and Jeff Shell, the former NBCUniversal boss, is the President.
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This means the parent company of CBS is now a hybrid of old-school broadcast power and new-school tech-forward production.
Who Actually Owns the Parent Company of CBS Now?
It’s not just one person. While David Ellison is the face of the operation, the ownership structure is a mix of heavy hitters:
- David Ellison & The Ellison Family: They hold the controlling interest.
- RedBird Capital Partners: A private equity firm that’s been a long-term partner of Skydance.
- Minority Investors: Big names like KKR, Tencent, and CJ ENM all have a piece of the pie.
Interestingly, there have even been reports in early 2026 that the NFL might be looking to secure a stake in CBS through this new structure. Since CBS is the home of so much NFL action, it makes sense for the league to want a seat at the table where decisions about the parent company of CBS are made.
What Assets Does Paramount Skydance Actually Control?
When we talk about the parent company of CBS, we’re talking about a massive umbrella. CBS is just one spoke in a very large wheel. If you looked at the organizational chart today, you’d see three main divisions:
1. TV Media (The CBS Hub)
This is where George Cheeks, the Chair of TV Media, runs the show. It includes:
- The CBS Television Network: Everything from The Price is Right to The Late Show.
- CBS News and Stations: This includes local stations in major markets like NYC and LA.
- CBS Sports: The heavy hitter for NFL, March Madness, and golf.
- Cable Networks: MTV, Nickelodeon, Comedy Central, BET, and VH1.
2. Studios
This is the "Old Hollywood" side. Paramount Pictures is the crown jewel here, but it now works alongside Skydance’s own animation and film divisions. They’re the ones making the Mission: Impossible and Top Gun movies.
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3. Direct-to-Consumer (Streaming)
This is the battlefield. Paramount+ and Pluto TV (the free, ad-supported service) live here. The new goal for the parent company of CBS is to consolidate all these different apps onto a single technology platform to save about $2 billion in costs.
The Hostile Takeover Attempt of 2026: A Plot Twist
If you think the story ends with the Skydance merger, you haven't been watching the news lately. In an wild turn of events in early January 2026, the newly formed parent company of CBS (Paramount Skydance) actually tried to buy Warner Bros. Discovery.
Yeah, you read that right. The company that was just bought is now trying to do the buying.
Paramount Skydance launched a $108 billion hostile takeover bid for WBD. Why? Because David Ellison wants to be even bigger. He’s looking to create a "next-generation" media giant that can truly stand toe-to-toe with Disney. Warner Bros. Discovery’s board initially rejected the offer, preferring a deal with Netflix, but Paramount Skydance is fighting it in court as we speak.
It’s messy. It’s expensive. And it means the identity of the parent company of CBS could change yet again if they successfully merge with WBD and form some kind of "Paramount-Warner" behemoth.
Why Should You Care Who Owns CBS?
You might think, "It’s just TV, who cares who signs the checks?" But ownership dictates what you see on your screen.
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When the parent company of CBS changes, priorities change. Under the Redstones, the focus was often on protecting the linear "Eye" network and its legacy. Under David Ellison, the focus is shifting toward "tech-enabled innovation."
Expect more interactive content, more integration with gaming (Skydance has a huge interactive division), and probably more price hikes on Paramount+ as they try to pay off the massive debt from these mergers.
A Quick Summary of the Timeline:
- Pre-2019: CBS and Viacom are separate companies.
- 2019: They merge to become ViacomCBS.
- 2022: Renamed Paramount Global to focus on streaming.
- 2025: Skydance Media buys the company; it becomes Paramount Skydance.
- 2026: Paramount Skydance enters a legal battle to take over Warner Bros. Discovery.
Common Misconceptions About CBS Ownership
One thing people often get wrong is thinking that the government or "the news" owns CBS. Nope. It is a publicly traded, for-profit corporation (trading under the ticker PSKY as of 2025).
Another big one: People think CBS and ABC are owned by the same people. They aren't. ABC is Disney. NBC is Comcast. CBS is Paramount Skydance. They are bitter rivals, even if they occasionally share broadcast rights for big events.
What’s Next for the Parent Company of CBS?
If you’re a shareholder, or just a fan of the shows, keep an eye on these three things:
- The WBD Lawsuit: If Paramount Skydance wins their legal fight against Warner Bros. Discovery, the parent company of CBS will become part of the largest media entity in history.
- The Single Tech Platform: Ellison has promised to move all streaming services to one backend. This should make the Paramount+ app suck less, which, let’s be honest, we all want.
- Sports Rights: The NFL contract is the lifeblood of CBS. Watch for any moves the NFL makes to buy a piece of the company directly.
Actionable Insights for You
- For Streamers: If you’re subscribed to Paramount+, keep an eye out for a rebrand. There’s a high chance it will eventually merge or bundle with other services (like Max) if the WBD deal goes through.
- For Investors: The ticker symbol is now PSKY. It’s a high-volatility stock right now because of the debt-heavy merger and the hostile takeover attempts. Proceed with caution.
- For Job Seekers: The "TV Media" division is currently undergoing major streamlining. If you're looking for work in the industry, the "Studios" and "Interactive" divisions under Skydance are where the growth is happening.
The parent company of CBS isn't a static thing. It’s a moving target. Right now, it’s David Ellison’s Paramount Skydance, but in the world of media, today's buyer is often tomorrow's seller.