Key Stats
- 📊 CBS generated $14.7 billion in revenue in fiscal year 2025
- 📊 National Amusements controls approximately 77% of Paramount Global’s voting shares
- 📊 CBS reaches over 97% of U.S. television households through its network
- 📊 The network maintains an estimated net worth of $18 billion as of July 2025
CBS is owned by Paramount Global, a publicly traded media conglomerate headquartered in New York City. The network operates under the CBS Entertainment Group division, with ultimate control held by National Amusements, the Redstone family’s holding company.
As one of America’s oldest television networks, CBS continues to dominate broadcast television in 2025. The network recently secured long-term contracts for NFL and NCAA sports broadcasting, strengthening its position in live entertainment. CBS programming remains central to Paramount Plus’s streaming growth strategy, with exclusive franchises like Star Trek and NCIS driving subscriber acquisition.
The company operates 14 owned-and-operated television stations across major U.S. markets. George Cheeks leads CBS as President and CEO of CBS Entertainment Group, overseeing news, sports, and entertainment divisions. Recent strategic initiatives focus on integrating traditional broadcast operations with digital streaming platforms while maintaining the network’s reputation for reliable news coverage and high-quality scripted content.
Who Owns CBS Network?
Paramount Global holds complete ownership of CBS through its CBS Entertainment Group division. The publicly traded company trades on NASDAQ under ticker symbols PARA (Class B) and PARAA (Class A). This structure emerged from the 2019 re-merger of CBS Corporation and Viacom.
Paramount Global’s Corporate Structure
CBS functions as a flagship broadcast brand within Paramount Global’s extensive media portfolio. The parent company also owns Paramount Pictures, Showtime, Nickelodeon, MTV, Comedy Central, and the Paramount Plus streaming service. This diverse portfolio allows CBS content to reach audiences across multiple platforms and distribution channels.
Control Through National Amusements
National Amusements, a private holding company, exercises control over Paramount Global by holding the majority of Class A voting shares. The Redstone family owns National Amusements, giving them significant influence over CBS’s strategic direction. Shari Redstone serves as Chairwoman of Paramount Global and President of National Amusements, directly shaping corporate policy and executive decisions affecting the network.
Largest Shareholders of CBS Network
CBS’s ownership structure divides between controlling voting shares and institutional investment stakes. National Amusements maintains voting control while major financial institutions hold significant non-voting positions in Paramount Global stock.
National Amusements: The Controlling Shareholder
National Amusements controls approximately 77% of Paramount Global’s voting shares through Class A stock ownership. This private company, owned by the Redstone family, has maintained control over CBS and its predecessor companies for decades. Shari Redstone inherited this controlling position following her father Sumner Redstone’s death, continuing the family’s media empire legacy.
The company’s voting power allows it to approve major strategic decisions, including mergers, acquisitions, and executive appointments. This control structure insulates CBS management from hostile takeover attempts while ensuring long-term strategic continuity aligned with the Redstone family’s vision.
Major Institutional Investors
Vanguard Group holds substantial Class B shares in Paramount Global, representing one of the largest institutional positions. The investment firm’s stake reflects broad index fund holdings rather than active management decisions. BlackRock maintains another significant position, similarly driven by passive investment strategies across media sector holdings.
State Street Corporation rounds out the top three institutional shareholders with considerable Class B share ownership. These institutional investors influence CBS indirectly through market pressure and financial performance expectations during quarterly earnings calls. However, their non-voting shares prevent them from affecting corporate governance or strategic direction.
Public Float and Trading Activity
Paramount Global’s publicly traded shares allow individual and institutional investors to own pieces of CBS through stock purchases. The Class B shares trade actively on NASDAQ, with daily volume reflecting investor sentiment about the company’s streaming strategy and broadcast television prospects. The dual-class share structure protects National Amusements’ control while providing public shareholders with economic participation in CBS’s performance.
Who is on the Board of Directors for CBS Network?
Paramount Global’s Board of Directors oversees CBS operations as part of the parent company’s governance structure. The board includes independent directors and executives with expertise across media, finance, and technology sectors.
Leadership and Governance
Shari Redstone chairs the Paramount Global Board of Directors, leveraging her position as President of National Amusements. Her leadership guides CBS’s integration within Paramount’s broader streaming and international expansion strategies. The board approves major initiatives affecting CBS, including sports broadcasting contracts, streaming platform development, and content production budgets.
Media and Entertainment Expertise
Several board members bring deep entertainment industry experience to CBS oversight. These directors understand content creation, audience engagement, and the evolving media landscape. Their insights inform decisions about CBS’s programming strategy, from maintaining successful franchises like NCIS to developing new properties for streaming platforms.
Board members with production backgrounds contribute perspectives on balancing traditional television economics with digital content demands. This expertise proves valuable as CBS navigates the transition from advertising-dependent broadcast models to subscription-based streaming revenue.
Financial and Investment Experience
Directors with financial backgrounds monitor CBS’s contribution to Paramount Global’s overall performance. They analyze revenue trends, advertising market conditions, and the profitability of different business units. These board members provide crucial oversight as CBS manages costs while investing in content quality and technical infrastructure.
Their financial acumen helps evaluate CBS’s sports broadcasting investments, which require substantial upfront payments for multi-year rights agreements. The board assesses whether these investments generate adequate returns through advertising revenue and streaming subscriber growth.
Technology and Digital Strategy
Board members with technology expertise guide CBS’s digital transformation efforts. They understand streaming technology, data analytics, and digital advertising platforms. This knowledge supports decisions about CBS’s presence on Paramount Plus and integration with Pluto TV’s free streaming service.
These directors help CBS balance maintaining its broadcast television leadership while building digital capabilities for younger audiences. They evaluate investments in production technology, content delivery systems, and audience measurement tools that inform programming decisions across platforms.
History of CBS Network Co-founders
CBS traces its origins to 1927 when Arthur Judson founded United Independent Broadcasters. Judson, a talent agent and music industry executive, created the network to showcase musical performances and compete with established radio broadcasters.
Arthur Judson’s Vision
Judson launched the network with ambitious plans but faced immediate financial challenges. The company struggled to secure advertisers and affiliate stations during its first year. Despite these difficulties, Judson’s concept of a national broadcasting network laid the groundwork for what would become one of America’s most influential media companies.
The network initially focused on classical music programming, reflecting Judson’s background managing concert artists. However, this specialized content attracted limited advertising support, threatening the young company’s survival.
William S. Paley’s Transformation
William S. Paley acquired the struggling network in 1928, renaming it Columbia Broadcasting System. The 27-year-old entrepreneur brought fresh capital and innovative business strategies that revolutionized broadcasting. Paley understood that radio could become a mass medium by offering diverse programming funded through advertising.
Under Paley’s leadership, CBS expanded rapidly throughout the 1930s. He pioneered the concept of affiliate relationships where local stations broadcast CBS programming in exchange for access to national advertisers. This model proved wildly successful, transforming CBS into a dominant radio network that competed effectively with NBC.
Paley’s vision extended beyond radio. He positioned CBS to transition into television broadcasting in the 1940s, ensuring the network’s continued relevance as media technology evolved. His leadership established CBS’s reputation for quality programming and journalistic integrity that persists today. The Paley legacy influenced broadcasting industry standards for generations.
FAQs
Who currently owns CBS Network?
Paramount Global owns CBS Network through its CBS Entertainment Group division. National Amusements controls Paramount Global through majority voting shares, giving the Redstone family ultimate control over CBS operations and strategic direction.
Is CBS owned by Disney or Warner Bros?
No, CBS is not owned by Disney or Warner Bros Discovery. The network operates under Paramount Global’s ownership, which also controls Paramount Pictures, MTV, and Nickelodeon among other media properties.
Who is the CEO of CBS Network?
George Cheeks serves as President and CEO of CBS Entertainment Group. He oversees all CBS divisions including the television network, news, sports, studios, and local television stations across the United States.
When did Paramount acquire CBS?
Paramount Global formed in December 2019 through the re-merger of CBS Corporation and Viacom. The company rebranded from ViacomCBS to Paramount Global in February 2022 to align with its streaming strategy.
Does the Redstone family still control CBS?
Yes, the Redstone family maintains control through National Amusements, which holds approximately 77% of Paramount Global’s voting shares. Shari Redstone chairs Paramount Global’s board and serves as National Amusements president.