UPDATE, Thursday, Feb. 9, 2017, at 4:30 a.m. PT: This is just one part of Viacom’s new strategy that was revealed Thursday morning. To read our full story on Viacom’s new strategy, please click here.

Viacom has a plan in the works to rebrand one of its cable networks, according to a report in Variety. The publication reports that Spike TV will be rebranded as Paramount Network.

“Sources tell Variety that the move is part of a new company-wide strategy set to be unveiled by CEO Bob Bakish Thursday,” the story reports. “Currently a home to series such as ‘Lip Sync Battle,’ Spike, led by executive Kevin Kay, is envisioned post-rebranding as a hub that will aggregate some of the best material from Viacom’s other brands, including CMT and TV Land, which Kay gained oversight of in a move last week.”

Insiders at Viacom are saying the company has no plans to shut down any of its struggling cable channels at this time, the report adds.