Viacom said Friday that it will transfer its stock exchange listing from the NYSE to the tech-heavy NASDAQ, saying the decision was in line with the company’s strategic interests.

The media giant said the change will “be more cost effective, while continuing to provide Viacom shareholders with strong execution and liquidity.”

The change will take effect Dec. 1, with Viacom class A shares trading under the current symbol, VIA. Class B common stock will continue to trade under VIAB.

Viacom, home to well-known brands such as MTV, VH1 and Nickelodeon, operates in more than 160 countries.