Closure of Paramount Television Studios under Paramount Global

SOURCE www.hollywoodreporter.com
Paramount Global is shutting down Paramount Television Studios, moving all current series and projects under CBS Studios umbrella. Nicole Clemens will exit the company. Layoffs announced as part of a cost-saving effort ahead of planned merger with Skydance. Clemens and Cheeks send memos to staff about the closure.

Key Points

  • Nicole Clemens led Paramount Television Studios through challenging times
  • Closure part of broader restructuring plans by Paramount Global
  • Layoffs announced as part of cost-saving efforts ahead of merger with Skydance

Pros

  • Transitioning current series and projects to CBS Studios for continuity
  • Acknowledgment of the talented team and their contributions under Nicole Clemens' leadership

Cons

  • Closure results in layoffs and the end of an era for the studio
  • Reflects significant changes in the TV and streaming marketplace