ViacomCBS is rebranding to become Paramount Global, effective Feb. 16, the latest giant pivot in a rapidly transforming media and entertainment landscape.
It’s the name of the company’s storied studio and its centerpiece streaming network Paramount+, which launched in March of 2021.“An iconic global company deserves an iconic global name.
One that reflects the power of our content; one that reflects our role as stewards of a rich heritage and as leaders in the future of entertainment.
With this in mind, as we’re announcing today at our investor event, ViacomCBS is becoming Paramount Global, or, more simply, Paramount,” said CEO Bob Bakish, and Shari Redstone, non-executive chair of the company’s Board of Directors, in a company-wide memo to employees.The news dropped as the company reported quarterly earnings and at the start of a virtual investor conference with presentations scheduled by Bakish, Redstone and key operating execs.The company’s shares will trade on the Nasdaq as PARAA (Class A common), PARA (Class B common) and PARAP (Preferred Stock) starting Feb.
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