In somewhat of a surprise announcement made during a splashy self-promotion of its content offerings, ViacomCBS President/CEO Bob Bakish and the company’s majority shareholder, National Amusements Inc. President and ViacomCBS Chairman Shari Redstone, ushered in a new era for a company she single-handedly create with the December 5, 2019, reunification of Viacom and CBS.
ViacomCBS is no more, and will now be known as Paramount.
Investors may be nonplussed by the move, which in some ways puts the entire company’s future on the present-day push for the Paramount+ OTT platform and a movie studio that in the not-so-distant past has seen its fair share of financial struggles.
