The Paramount brand is likely to be more prominent at Australian subsidiary Ten Network following a corporate name-change by ViacomCBS.

Viacom CBS bought Ten in 2017 after the latter was put into receivership by major shareholders Lachlan Murdoch and Bruce Gordon, who were then pipped to the post by their US content provider, a major creditor.

ViacomCBS announced this week that it would change its corporate name to Paramount Global, via an email to staff from founder and chair Shari Redstone and president and chief executive Bob Bakish, and hold an investor event.

It’s not clear when or whether Ten might change its name to Paramount, but viewers can expect to see more of the historic film brand. ViacomCBS Australia & New Zealand is a division of ViacomCBS International Networks, which in turn is a division of ViacomCBS.

Redstone and Bakish looked back to the “spectacular launch” of Paramount+ a year ago, and to the 2019 merger of Viacom and CBS. “In that time, we have shown the world what we knew from the start – that together, aligned around a shared vision and shared strategy, we create a whole that is far greater than the sum of its parts,” they said.

The memo reports the fast-growing streaming business is going global, with brands “firing on all cylinders”, supported by fourth quarter and 2021 results.

“Our momentum is accelerating – the size of the opportunity we see ahead is matched only by our determination to seize it.

“For more than a century, the name Paramount has been synonymous with great entertainment and industry leadership. It’s part of our history, as pioneers of the Golden Age of Hollywood. But as Paramount+ has made clear, it’s also about our bright future.”

Brands include CBS, Showtime, MTV, Comedy Central, BET, Nickelodeon, Smithsonian, Paramount Pictures, Paramount+ and Pluto TV.