Paramount Television Studios closing
August 14, 2024
Paramount Television Studios is shutting down after Paramount Global began the latest round of cost-cutting ahead of the expected merger with Skydance Media.
The company is looking to make some $500 million (€453.5m) in cuts and already laid off approximately 800 staff back in February.
“This has been a challenging and transformative time for the entire industry, and sadly, our studio is not immune,” Paramount Television Studios President Nicole Clemens wrote in a memo to staff. “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.”
“We’ve also had the privilege to collaborate with some of the most brilliant creative talent in the industry to help tell incredible stories seen around the world, entertaining and shaping culture. Although Paramount Television Studios is ending, our ethos will live on in shows that will continue to be enjoyed by global audiences for years to come,” added Clemens.
The studio is halting operations at the end of this week.
The studio opened in 2013 and is responsible for a number of high-profile TV series including Reacher (pictured) and Tom Clancy’s Jack Ryan (both for Prime Video), Time Bandits (for Apple TV+) and 13 Reasons Why (for Netflix). Clemens confirmed that current projects in development, including Cross, Before and Murderbot, will be moving to CBS Studios.