As a devoted fan who has grown up with some of the most captivating stories brought to life by Paramount Television Studios, this news leaves me disheartened and somewhat nostalgic. Over the years, I have followed the adventures of Clay Jensen in 13 Reasons Why, delved into the mysteries of The Alienist, lost myself in the post-apocalyptic world of Station Eleven, and even found myself enchanted by the magical tales of Time Bandits and The Spiderwick Chronicles. These shows have not only provided me with countless hours of entertainment but also shaped my understanding of complex human emotions and narratives.
paramount Television Studios is shutting down due to cost-cutting measures at Paramount Global. The company has been undergoing sale negotiations for several months, which ultimately led to its acquisition by Skydance. This event triggered another round of layoffs affecting 15% of the U.S. workforce at Paramount. paramount Television Studios was previously impacted by a reduction in workforce back in February and is now set to close its operations permanently by the end of this week. The news was shared with employees in memos from Nicole Clemens, President of Paramount TV Studios, and George Cheeks, CBS President and CEO.
CBS Studios is set to take over Paramount Television Studios, meaning all ongoing series and projects under development at PTVS will now be managed by CBS Studios. Following the layoffs in February, Paramount Television Studios consolidated its projects under Head of Development Jana Helman. This restructuring also led to some senior staff members leaving the company, while departments such as marketing were absorbed by CBS Studios. Notable series produced by Paramount Television Studios include “13 Reasons Why,” “The Alienist,” “Station Eleven,” “Time Bandits,” and “The Spiderwick Chronicles.”
You can read the email sent out by the Office of George Cheeks below:
CBS Team,
Based on the email we shared earlier with Brian, it turns out to be a challenging day at Paramount Global. I’m getting in touch to inform you that the recent updates unfortunately involve CBS, encompassing one of our studios as well.
Recently, I’ve shared some news with the awesome team over at Paramount Television Studios (PTVS). It’s regrettable to say, but their operations will wind down by the end of this week. Let me clarify that this decision isn’t about PTVS’ performance. Instead, it’s a strategic move in response to the massive shifts happening in the TV and streaming landscape. We’re reorganizing our company to adapt and thrive in these new conditions. As a gamer, I can relate this to when a game needs an update to keep up with the evolving gaming world!
As a dedicated fan, I’d like to express my heartfelt gratitude to Nicole Clemens, President of PTVS, and her exceptionally gifted team. Under Nicole’s visionary leadership, this studio has consistently outperformed expectations by attracting some of the best storytellers and stars in the industry. Their collective efforts have resulted in a series lineup that sets the standard for excellence. I extend my sincere thanks to every PTVS employee who played a role in shepherding a slate of shows that has been instrumental in guiding Paramount into the streaming era.
Going forward, all current PTVS series and development projects will transition to CBS Studios.
Alongside PTVS, some esteemed members of CBS teams are preparing to depart from the company. These individuals have been instrumental in earning us the leadership we hold today, and we appreciate their skills, effort, and commitment. I’d like to extend my heartfelt thanks for their contributions.
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2024-08-13 21:10