ViacomCBS is about to have a new (but familiar) name

ViacomCBS will be changing its name to Paramount Global come Feb. 16, Chair Shari Redstone and President-CEO Bob Bakish announced Tuesday in a memo to staffers, per Variety.
"An iconic global company deserves an iconic global name," Redstone and Bakish wrote in their memo. "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," they continued. "And it will capture the collective power of our global assets from our amazing brands." The rebrand is also meant to "focus on the company's future, where it will focus on becoming a major player in streaming," writes The Verge.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Viacom and CBS decided on their shared moniker after a merger back in 2019, notes The Hollywood Reporter. CBS, Showtime, MTV, Nickelodeon, Paramount Pictures, Paramount+, and more all fall under the media conglomerate's umbrella.
Read Bakish and Redstone's full memo at Variety.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brigid Kennedy worked at The Week from 2021 to 2023 as a staff writer, junior editor and then story editor, with an interest in U.S. politics, the economy and the music industry.
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores