• Welcome to DreamDTH Forums
    An online community for the television enthusiasts!
    Log in or Register

ViacomCBS renamed as Paramount

Saichaitanya4496

News Columnist
Joined
11 Nov 2019
Messages
920
Reaction score
2,202
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).

The moniker makeover was announced Tuesday by ViacomCBS chair Shari Redstone and president-CEO Bob Bakish in a memo to staffers. The news came the same day that ViacomCBS hosted a nearly three-hour investor presentation to tout its global streaming strategy and plans for expanding the Paramount Plus streaming service and other businesses in the U.S. and abroad.

 

KrishnaDev

Registered
Joined
12 Mar 2021
Messages
242
Reaction score
493
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).

The moniker makeover was announced Tuesday by ViacomCBS chair Shari Redstone and president-CEO Bob Bakish in a memo to staffers. The news came the same day that ViacomCBS hosted a nearly three-hour investor presentation to tout its global streaming strategy and plans for expanding the Paramount Plus streaming service and other businesses in the U.S. and abroad.

Will Viacom's networks across all countries be renamed? Then Viacom 18 will no longer exist. Either it will remain under the corporate name of "TV 18", or it may be renamed "Paramount 18".
 

MaxxNic

Registered
Joined
3 Sep 2019
Messages
19
Reaction score
12

Saichaitanya4496

News Columnist
Joined
11 Nov 2019
Messages
920
Reaction score
2,202
Shares of ViacomCBS are down more than 20% in early trading as Wall Street digests the company’s streaming strategy, outlook and financials announced after the market closed Tuesday, and clearly has some issues.

The company, which is changing its name to Paramount, has its supporters. Guggenheim reiterated a ‘buy’ rating but lowered its 12-month price target to $40 from our prior $53 based on a sum of the parts valuation that separates the streaming and traditional media business. BoFA cut its rating to ‘neutral’ on risk (with a price target of $39). The stock is changing hands at about $30, approaching its $52-week low after forecasting subscriber and revenue growth, but also steep content spending and operating losses at its ramped up DTC business over the next few years.


Not a start they would have wanted. Running multiple streaming services isn't anyway ideal for them.
 

Aksgr

Registered
Joined
27 Oct 2018
Messages
3,634
Reaction score
6,847
viacom18 not updating their name to paramount18 is a sign of disinvestment from paramount global ?

 
Top Bottom
AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock