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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.
CBS said: "In many ways, today's decision is a natural extension of the path we laid out in creating Viacom," Redstone said in a company-wide memo. "We are retaining the significant advantages we captured in the Paramount and CBS mergers and, at the same time, recognizing the need to adapt to a changing competitive environment."
Several channels owned by Paramount Global, including CBS, Comedy Central and MTV, will soon disappear from YouTube TV on Thursday if the two companies don’t reach a contract renewal.
Paramount said in its statement that YouTube TV was attempting to "pressure" them to "agree to one-sided terms." Paramount also said it made a "series of fair offers."
The 2019 merger of CBS Corporation and Viacom was announced on August 13, 2019, and was completed on December 4, 2019. The merger of equals reunited CBS Corporation and Viacom into a single company known as ViacomCBS (today known as Paramount Global) after their separation from the first incarnation of Viacom on December 31, 2005.
The Nickelodeon Group (also known as "Nickelodeon Networks Inc."; and as its family distribution name "Paramount Kids and Family Group") is an American entertainment company that oversees Paramount's children's entertainment assets, including its namesake cable network and Nickelodeon Animation Studio.
YouTube TV and Paramount have agreed to a short-term deal extension to avoid a blackout of CBS, YouTube announced late Thursday. Paramount wanted a rate hike. Their existing deal expired at 1 p.m ...
This case, an appeal from a decision of the Delaware Chancery Court, involved a proposed merger between Viacom and Paramount Communications; as part of the merger agreement, Paramount agreed to an array of defensive measures, including a no-shop provision, $100 million termination fee and a lock-up option on approximately 20% of Paramount’s common stock.