Posted on 08/14/2024 5:45:23 AM PDT by T.B. Yoits
Following a tumultuous year of layoffs and an ongoing merger, Paramount Television Studios is now shutting down.
Today, Paramount Television Studios President Nicole Clemens announced that the division will shut down by the end of the week via a memo sent to employees, according to Deadline. The decision comes just days after Paramount announced that it would lay off 15 percent of its employees in the U.S.
"This has been a challenging and transformative time for the entire industry, and sadly, our studio is not immune," she wrote. "Over the past 11 years, PTVS has weathered seemingly insurmountable obstacles through a combination of strength, determination, and unwavering commitment. We met these challenges with incredible resilience, creativity, and passion for what we do, and I could not be prouder of our team."
According to another memo sent by CBS CEO and Paramount Global Co-CEO George Cheeks, the decision was not based on performance and instead was "the result of significant changes in the TV and streaming marketplace and the need to streamline our company."
Cheeks also announced that all current PTVS series and projects in development, including Cross, Before, and Murderbot, are moving to CBS Studios. It is still unclear if any employees are being folded into CBS as well or if all are simply being laid off.
IGN has reached out to Paramount for comment.
Founded in 2013, PTVS is best known for Tom Clancy's Jack Ryan, 13 Reasons Why, and Reacher. However, PTVS faced layoffs twice this year, with February's round of layoffs folding quite a few aspects of PTVS into CBS Studios. Fears of layoffs have also grown amid Paramount Global's tentative merger with Skydance Media.
(Excerpt) Read more at ign.com ...
Feel-good story of the day.
Feel-good story of the day.
Cue the “What a Shame” pic...
Oh darn.
I hope Reacher finds a new home.
It’s a new day. The arts have become a cesspool.
Perhaps the Federal Govt can subsidize the industry...
The displaced workers can make buggy whips.
maybe they will shoot in america.
I received a free subscription to Paramount +.
It in our belief worthless. Paramount + is apparently for younger viewers who enjoy crap.
I look forward to the day when I read the same headline for Disney.
The once great Paramount that produced Star Trek
“It’s dead, Jim.”
Is this the crew that produced the cringey, DEI “Star Trek” spinoffs of late?
Bummer, I like Reacher too. Looking forward to more seasons.
Used to be x advertising dollars available to use over three main networks. With cable (which was supposed to reduce/eliminate ads...), that same x value was spread over an ever increasing number of channels. This led to less $$ for networks, so the number of ads increased (while their quality decreased...). This trend continued as channels were added. With less money, the producers had to cut costs (’reality’ tv, lower paid writers, actors, etc.) to the point that their shows became unwatchable. And here we are.
It’s a start.
Should have stayed away from all that "Woke" diversity garbage.
Nobody wants to see "diversity". Nobody wants to see "Girl Power!"
Yup—the DEI Star Trek is totally unwatchable.
Woke destroys anything and everything.
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