The historic run of 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.
According to Variety, MTV News will completely shut down with the layoffs.
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.”
Additional networks impacted by the layoffs include Nick, MTV, Comedy Central, Paramount Network, CMT, Smithsonian, TV Land, Logo, and Pop TV. Four months ago, Showtime dropped 120 employees in its merger with MTV Entertainment Studios.
You can read the full note from McCarthy here.