Are you sure Paramount went out of business or just changed their name? Theyve done that quite a bit over the years. Quite the interesting company. Lots of stories with that one.
There are a lot of studios here and many many private people with home studios. Not hard to find someone if you want. If you go to a site called "MUSIC STARTS HERE" there is usually some listings there for them. I'll put my own friend in, Jay Verne, of Jay's Place recordings. I've worked with Jay for over 20 years and have done hundreds if not thousands of songs of all levels. Jay is a great guy and is very good on out of town songs. www.jaysplace.com
Mostly music is like the old REO speedwagon song, "Heard it from a friend who, heard it from a friend who..." It's mostly word of mouth. Everyone uses studios at one time or another, although there are more and more band in a box or hommade studios out there in all nooks and crannies of the world. All depends on what you are looking for and your budget.