Paramount and ViacomCBS are well-known names in the streaming and film-making industry. However, there is an old relationship between the two companies.
There has been a complex relationship between these two companies named ViacomCBS and Paramount. Reunited and then broken apart, and now again, we are hearing that ViacomCBS rebrands itself to become Paramount Global.
Remember that the firm, Viacom, purchased Paramount in 1994.
Viacom went through a financial slump and split into two firms. Then it would still have connections to the split off firm but would be responsible for different aspects.
Now it looks like Viacom is leaning into the Paramount brand. The Paramount brand is known for streaming, The Wolf Of Wall Street, Iron Man, and the Star Trek Series. It has quite a bit to be proud of and it looks like it looking to lead the way with more content on its streaming platform. The streaming platform has recently taken on South Park content and other compelling movies and shows to retain and grow an audience.
The Connection Between ViacomCBS and Paramount Global
The interlinked relationship between ViacomCBS and Paramount Global has been since the year 1990. In the 1990s, the chairman Sumner Redstone brought three companies under an umbrella. After a while, the tie between the two companies was broken down, but three years later, both companies came back together.
It was announced in Los Angeles that ViacomCBS is rebranding to Paramount. The announcement was made by Shari Redstone, the daughter of Sumner Redstone. The firm is doing so in response to the growing needs of the present world.
Paramount and A New Outlook
Media companies have tried their level best to balance traditional content. However, Redstone clearly said that its strategy revolved around strengthening the traditional business and introducing something new. In addition to this, Shari also announced that the company always had something like this in its vision. Moreover, she also explained that the investors are yet to be convinced as the shares of ViacomCBS dropped 17.8 percent.
Multiple other announcements were also made during the same meeting. One of the primary announcements made includes a Kelvin Timeline film announcement. Bob Bakish also announced that all the streaming would land on Paramount + rather than Paramount. After current license agreements, this will come into practice, which streams films to cable companies such as ePix cable and satellite networks.
The days when the company was referred to as ViacomCBS are gone. Many referred to this name as Frankenstein’s monster-like name, which emerged from a corporate merger. The company, which has many names, such as Paramount +, CBS, and multiple cable properties like MTV and Comedy Central, will now be referred to as Paramount or Paramount global due to its rebranding.
The rebranding thought originated from the company’s roots is Paramount Pictures, one of the oldest studios in the United States was founded in 1912 and was bought by Viacom. While ViacomCBS was a mixture or mashup of Viacom and another company known as the CBS.
Paramount is already well known all around the globe for its fantastic storytelling technique. Paramount has proved itself a fantastic storyteller, whether it be a big screen, small screen, or any other device in between.