Forget Bixi - it's Bike Share Toronto now. Three months after being placed under the control of the Toronto Parking Authority, the city is finally lifting the lid off the new-look bike share system.

The name, logo, and prices will change, but for the immediate future Bike Share Toronto is going to look and behave a lot like Bixi.

According to NOW, which obtained a copy of the press release a day in advance, prices will rise for short-term rentals but fall for subscriptions. A one-day pass will now cost $7 and a three-day pass $15. Monthly memberships will be cut in half to $18. A year of access will cost $90.

The city bought the bike share system when its original operator, Montreal-based Public Bike Share Company, ran into financial trouble. The money was created by cancelling a fleet high-tech toilets.

In December, Cllr. Denzil Minnan-Wong said the city would be seeking a major sponsor to help cover the cost of running the bikes, bike stations, and other infrastructure. Bixi was sponsored in part by Telus and Desjardins.

When Bixi became city property there 4,000 active members. Since 2010, cyclists have made more than 1.8 million trips.

A lack of bike stations outside the downtown core was often cited as a reason why Bixi failed to become a viable transportation system. The new website tantalizingly includes a map that includes "planned" stations, though none are listed at this time.

Chris Bateman is a staff writer at blogTO. Follow him on Twitter at @chrisbateman.