Paramount Pictures Corporation is a film and television production/distribution company founded in 1912 and currently owned by media conglomerate Viacom. It is the second oldest existing film studio in the world behind Gaumont Pictures. Also, it is the last major film studio still headquartered in the Hollywood district of Los Angeles. Paramount is consistently ranked as one of the largest (top-grossing) movie studios. Paramount Pictures is a member of the Motion Picture Association of America (MPAA).