MTV News is coming to a close. As Showtime rebrands into Paramount With Showtime, Paramount, Showtime, and MTV Entertainment studios are experiencing a 25% layoff of their employees. In a statement, Showtime/MTV Entertainment Studios and Paramount Media Networks president Chris McCarthy spoke about the success of streaming but are pressed by “broader economic headwinds like many of our peers” and pushed the company to consider “the optimal organization for the current and future needs of our business.”
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