Viacom to Move Stock Listing from NYSE to Nasdaq

6:17 AM PST 11/11/2011 by George Szalai

The entertainment conglomerate said that the transfer will be "more cost effective."

NEW YORK - Viacom said Friday that it is moving its stock exchange listing from the New York Stock Exchange to the Nasdaq Global Select Market.

The company said that the transfer will be "more cost effective," while "continuing to provide Viacom shareholders with strong execution and liquidity.

The move takes effect Dec. 1.

Though Nasdaq has traditionally been the home of young technology companies, it has also attracted big, established companies, including in the media and entertainment space.

Some recent tech IPOs like LinkedIn and Pandora Media have gone with the New York Stock Exchange, while social gaming giant Zynga will trade on Nasdaq after its IPO.

Viacom isn't the only company in the broader entertainment space moving its stock listing. Imax earlier this year moved the other way - from the Nasdaq to the NYSE.

"Given the global nature and expansion of our brand, the New York Stock Exchange offers an ideal platform for the continued growth of our company," Imax CEO Richard Gelfond said back then.

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