As reported on Wednesday, Viacom CEO Bob Bakish confirmed to shareholders on Thursday that the company would be reorganizing to focus on six key channels: BET, Comedy Central, MTV, Nickelodeon, Nick Jr. and Spike, which will be rebranded to the Paramount Network and focus more on original series. Viacom also plans to integrate those brands more closely with Paramount Studios, taking content from the TV channels and turning it into feature films, for example.

RELATED: Viacom to Regroup, Focus on Six Key Channels

“Today we share a strategy that will enable Viacom to realize the full potential of its premier global portfolio of entertainment brands,” Bakish told the gathering, according to the Hollywood Reporter. “Building on our leading domestic and growing international footprint, this strategy will expand the depth and reach of our flagship brands across multiple platforms and around the world, while also providing for more competitive differentiation and increased adaptability for our business overall. There is much work to be done, but we are confident we have the plan and people to take our brands to greater heights and build a bright future for our company.”

Bakish revealed a five-point plan that included putting the full power of Viacom behind the six previously mentioned flagship brands.

Other points presented were to “revitalize and elevate approach to content and talent;” “deepen partnerships to drive traditional revenue;” “make big moves in the digital world and physical world;” and “continue to optimize and energize the organization.”

“Viacom’s flagship brands will be the company’s highest priorities and will benefit from significant and increased resource commitments. These six brands each have compelling, valuable and distinct brand propositions,” the company said. “They serve diverse, substantial audiences with largely-owned content, have global reach and distribution potential across linear, digital, film, and consumer products, events and experiences.”

The company’s other brands — such as CMT, TV Land and VH1 — will be folded into the six core brands. “Viacom’s other brands — some of which hold strong positions in their categories and maintain diverse and loyal followings — will be realigned to reinforce the six flagship brands,” the company said.

In early 2018, Spike will be rebranded as The Paramount Network, which will serve as “Viacom’s premier general entertainment brand,” the company said. The rebranded network will take Spike’s “strong and growing programming expertise and amplify it with the globally-recognized Paramount brand, an iconic symbol of cinematic production with a history of rich, compelling storytelling.”

Original scripted programming will be a significant part of that mix, Bakish told analysts and reporters on Thursday, according to The Wrap.

Overall, Viacom plans to extend the reach its brands through live experiences and new consumer products that will create “valuable new channels for marketing, talent development and connecting with audiences,” the company said.

READ MORE: The Hollywood Reporter, The Wrap

[Cube image of Miley Cyrus performing at the 2015 MTV Music Awards courtesy of The New York Times.]

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