Viacom is transferring its market listing from the New York Stock Exchange to the Nasdaq to cut expenses, the company announced Friday.
Viacom, owner of Paramount Pictures and cable networks such as MTV and Comedy Central, said the change will take effect on Dec. 1.
The announcement follows its earnings report on Thursday, when the company announced it its earnings had tripled and revenues increased 22 percent as compared to last year.
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Once the change takes effect, the class A stock will trade under “VIA” while the Class B stock will trade under “VIAB.”