Warner Bros chair and CEO Ann Sarnoff on Wednesday unveiled the studio’s refreshed brand with a new logo that is now on the Burbank, CA lot’s storied water tower. The new logo is a refinement and modernization of the Warner Bros shield that has been part of the studio’s identity since its founding in 1923.

“As we approached our centennial, we thought it was the right time to take a good look at our brand, what it stands for and the values it represents,” Sarnoff said. “We know that a strong brand gives us not just a road map but a sense of purpose. It puts our feelings of pride into words. And, it helps us communicate who we are to our employees, our creative and business partners, and our fans around the world.”

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More than 500 employees gathered near the Warner Bros water tower for the unveiling, where Sarnoff, with a special assist by a tuxedo-clad Bugs Bunny, dropped a drape to reveal the new mark. The water tower, standing at the southernmost address on North Hollywood Way, is 133 feet tall and one of the most recognizable sights in the Burbank skyline. The logo on the tower’s side is approximately 20 feet high and 16 feet across.

Along with updating the logo, Warner Bros also refurbished its mission statement and brand position: “To be the world’s leading creator and distributor of extraordinary entertainment by partnering with the world’s most inspiring storytellers.” Warner Bros’ new brand position sums up that commitment in seven words, “We believe in the power of story,” a mantra they’ll carry forward into the streaming era with WarnerMedia’s launch of HBO Max in May.

“At Warner Bros, we have been telling stories and entertaining audiences for almost 100 years—but we don’t do it alone,” said Sarnoff. “From the beginning, we’ve worked with the world’s best storytellers and helped them bring their visions to life. It’s their unique genius that connects and inspires us, that introduces us to new ideas, takes us to new places, and reshapes the way we see the world. They are the heart of everything we do.”

The new Warner Bros shield logo is expected to begin appearing on screen in early 2020. The logo revealed today on the water tower is a temporary wrap; in the coming weeks, the tower will be repainted, a process that will take 4-6 weeks.