ViacomCBS rebrands as Paramount, reveals international expansion plans
Mass media and entertainment conglomerate, ViacomCBS is bringing together its vast portfolio under a new parent company even as it rebrands to Paramount Global.
The global media company has also disclosed plans to accelerate the global momentum behind Paramount+, unveiling new content, enhanced product offerings, and continued international expansion.
Commenting on the strategic rebrand, Bob Bakish, President and Chief Executive Officer said: “Paramount’s iconic peak represents a rich history for our company as pioneers in the Golden Age of Hollywood. Today, as we embrace the Paramount name, we are pioneers of an exciting new future. We see a huge global opportunity in streaming, a much larger potential market than can be captured by linear TV and film alone.”
He continued: “We’re excited about our ability to not just compete, but thrive, creating significant value for both consumers and shareholders. How? Because we’re broader in four key areas: our diverse content, streaming model, mix of platforms and global reach. As we look forward, the size of the opportunity we see is matched only by our ambition to seize it.”
According to the company, the rebrand demonstrates the global power of fan-favorite IP with an expansive slate of exciting programming announcements. Paramount+ will continue to deliver the most diverse content offering in streaming across every genre at scale, including beloved franchise extensions and all-new buzzworthy originals spanning must-see movies, scripted dramas, unscripted reality TV, comedy, kids and family, sports, news, specials and events to super-serve the entire household.
Some of the iconic franchises from the ViacomCBS’ leading portfolio of entertainment, news and sports brands, including BET, CBS Television Network, CBS News, CBS Sports, Channel 5, CMT, Comedy Central, MTV, Network 10, Nickelodeon, Paramount Network and Telefe.
The company’s shares will trade on the Nasdaq stock exchange as PARAA (Class A common), PARA (Class B common) and PARAP (Preferred Stock), beginning with trading on February 17, 2022, at 9:30 a.m. ET.
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