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Paramount Global announced on Tuesday it would be shutting down its TV studio, laying off thousands amid the industry’s uncertain future.

The company announced that Paramount Television Studios will be shutting down later this week. In a memo to staff on Tuesday morning, president Nicole Clemens said the overall transformation in the industry has affected the studio drastically.

"As you’re all aware, Paramount Global has made the difficult decision to close Paramount Television Studios as part of the company’s broader restructuring plans,” the memo said. “This has been a challenging and transformative time for the entire industry, and sadly, our studio is not immune. . .

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>Paramount Global announced on Tuesday it would be shutting down its TV studio, laying off thousands amid the industry’s uncertain future. >The company announced that Paramount Television Studios will be shutting down later this week. In a memo to staff on Tuesday morning, president Nicole Clemens said the overall transformation in the industry has affected the studio drastically. >"As you’re all aware, Paramount Global has made the difficult decision to close Paramount Television Studios as part of the company’s broader restructuring plans,” the memo said. “This has been a challenging and transformative time for the entire industry, and sadly, our studio is not immune. . . [Archive](https://archive.today/aLWXM)

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[–] [deleted] 1 pt 8mo

Good. One less brain rot programmer to be closed down.

[–] 1 pt 8mo

I could not be prouder of our team

Being proud of 10+ years of abject failure as measured by any objective criteria?

Seriously, how do you take a printing press for money like the Star Trek or Twilight Zone franchise and come up empty?

[–] 1 pt 8mo

Yeah, I guess that makes more sense than just going back to making content that people actually want to watch and isn't insulting to your target audience...

[–] 1 pt 8mo

Is Paramount TV the parent company for Nickelodeon or is it it's own thing?

[–] 1 pt 8mo

Paramount Media Networks owns Nickelodeon.