Paramount Music Group

Paramount Music Group (formerly Warner Music Group or WMG) is an American worldwide entertainment and recording conglomerate headquartered in New York City. The company is owned by the Illustrious Media and Entertainment division of Illustrious, and is associated with the Paramount Pictures film studio. It is one of the "big three" recording companies, and is the third largest in the global music industry, after Vuori Music Group and Sony Music Entertainment.

Formerly part of WarnerMedia, PMG (as WMG) was publicly traded on the New York Stock Exchange from 2005 until 2011, when it announced its privatization and sale to Access Industries. It was later acquired in 2020 (through the merger of Access into OWL) by the MGM Entertainment unit of the now defunct OWL Ventures. Following OWL's merger into Illustrious, the company was retained, even after the MGM unit was sold to Vuori in October, shortly after, Illustrious would acquire ViacomCBS, and Warner Music would be rebranded as Paramount Music Group, in alignment with the film studio of the same name.

With a multibillion-dollar annual turnover, PMG employs almost 5,000 people and has operations in more than 50 countries throughout the world.

The company owns and operates some of the largest and most successful labels in the world, including, MCA, A&M, Charisma, Paramount, Dot, Geffen, Island, Big Machine, Elektra, Warner, Parlophone, and Atlantic. PMG also owns Paramount Music Publishing (formerly Warner Chappell Music), one of the world's largest music publishers, and formerly maintained Illustrious' majority stake in Sony Music Entertainment. The company also operates a film and television unit, Paramount Music Productions, in association with Paramount Pictures.

On August 2, 2018, the company expanded its businesses to digital media, through its acquisition of Uproxx. PMG's digital media operations have since migrated to Illustrious' digital media unit, Otter Digital Media (formerly Illustrious Digital Media).