Paramount Global, Which Also Owns CBS News, Shuts Down Paramount Television Studios Due to Budget Cuts
In yet another example of what happens when Hollywood elites prioritize woke agendas over quality content, Paramount Global has decided to close down Paramount Television Studios (PTVS) for good.
The announcement was made on Tuesday by Nicole Clemens, President of PTVS, and George Cheeks, Co-CEO of Paramount Global and President & CEO of CBS.
All current series and projects in development at Paramount TV Studios will be shifted under the CBS Studios umbrella.
According to The Hollywood Reporter, “Paramount announced last week that it would lay off 15 percent of its U.S. employees — on top of about 800 layoffs six months ago — as part of an effort to save $500 million in costs ahead of a planned merger with Skydance.
