- ViacomCBS will change its corporate name to Paramount as of Feb. 16, calling the move an effort to adopt “an iconic global name” to reflect the conglomerate’s increasingly worldwide focus.
- The company’s shares will trade on the NASDAQ index under the ticker symbol PARA (for Class B common shares), PARAA (for Class A common), and PARAP (for Class A preferred).
- ViacomCBS is doubling down on its nascent streaming strategy, with plans to steer more content and investment toward Paramount+ and a new reporting structure and corporate brand to emphasize that focus.
CBS is a foundational name in broadcasting — the Columbia Broadcasting System launch dates back to 1927 and the early days of commercial radio. The Eye name will endure on the broadcast network and other existing assets.
The moniker makeover was announced Tuesday by ViacomCBS chair Shari Redstone and president-CEO Bob Bakish in a memo to staffers.
“As Paramount, our name will reflect who we are, what we aspire to be, and all that we stand for. It will help advance our strategy of harnessing all our strength and breadth in building the businesses of tomorrow. And it will capture the collective power of our global assets, from our amazing brands—CBS, Showtime, MTV, Comedy Central, BET, Nickelodeon, Smithsonian, Paramount Pictures, Paramount+, Pluto TV and more— to our global reach and our diverse audiences. All of which adds up to Paramount being the pre-eminent home to, and producers of, the world’s greatest content,” Redstone and Bakish wrote.
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