ViacomCBS unveils new company name, global content slate and expansion plans for Paramount+

ViacomCBS unveils new company name, global content slate and expansion plans for Paramount+

22-02-2022 08:04:00 | Door: Bob Koigi | Hits: 1114 | Tags:

ViacomCBS has announced that the global media company will become Paramount Global (referred to as "Paramount") bringing together its leading portfolio of premium entertainment properties under a new parent company name.

Shari Redstone, Non-Executive Chair of the company's Board of Directors, Paramount: "Paramount is an idea: A promise to be the best. That promise has always been at the center of what we aspired to build as the steward of more than a century of cinematic excellence, and with businesses and brands that have defined and redefined entertainment for generation after generation. We have made enormous progress, and I have never been more excited about the future of this company."

Bob Bakish, President and Chief Executive Officer, Paramount : "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," said

The company's shares began 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.

In addition to the name change, the company detailed plans to accelerate the global momentum behind Paramount+, unveiling new content, enhanced product offerings and continued international expansion at its investor event.

Bakish: "We see a huge global opportunity in streaming, a much larger potential market than can be captured by linear TV and film alone. 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."

The event demonstrated 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.

Tanya Giles, Chief Programming Officer, Streaming, ViacomCBS: "On Paramount+, we have something for everyone. We are taking our broad content offering and deepening it with more content in key categories, building on our treasure trove of IP to create lasting, hit franchises."

www.paramount.com

 


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