ViacomCBS introduced Tuesday that the corporate will change into referred to as Paramount.
"Efficient February 16, we'll be bringing collectively our main portfolio of premium leisure properties underneath a brand new dad or mum firm identify," the corporate stated.
"That is an thrilling second within the historical past of our firm," president & CEO Bob Bakish and Shari Redstone, non-executive chair of the corporate's Board of Administrators, stated in an inner memo.
"It has been one 12 months for the reason that spectacular launch of Paramount+ and two years for the reason that profitable merger of Viacom and CBS. In that point, we have now proven the world what we knew from the beginning: that collectively, aligned round a shared imaginative and prescient and shared technique, we create a complete that's far better than the sum of its components."
They made the announcement at an investor occasion Tuesday, revealing that "ViacomCBS is turning into Paramount International, or, extra merely, Paramount."
"For greater than a century, the identify Paramount has been synonymous with nice leisure and trade management. It is a part of our historical past, as pioneers of the Golden Age of Hollywood," Bakish and Redstone stated.
"However as Paramount+ has made clear, it is also about our shiny future."
The corporate's shares will commerce on the Nasdaq inventory trade as PARAA (Class A typical), PARA (Class B frequent) and PARAP (Most well-liked Inventory), starting with buying and selling on February 17, 2022.