According to reports, MTV News will cease operations soon, after 36 years in operation. The decision was made after MTV News' parent company, Paramount Global, reduced its US workers headcount by 25%.
The journalism branch of the renowned music video network, which originally covered a range of topics from pop culture to politics and developed into well-known among Generation X and Millennial teens, will now come to an end, according to CNN.
In a memo to workers, Chris McCarthy, the president of Paramount Media Networks, MTV, and Showtime, stated "The company continues to feel pressure from broader economic headwinds like many of our peers. As a result, we have made the very hard but necessary decision to reduce our domestic team by approximately 25%”.
He claimed that despite the broadcasting giant's "success" in streaming, this situation occurred.
"Through the elimination of some units and by streamlining others, we will be able to reduce costs and create a more effective approach to our business as we move forward."
"Employees affected by the layoffs were to be notified in person on Tuesday," McCarthy continued.
In recent months, the workforces of numerous digital and media companies, including CNN, The Washington Post, NPR, Gannett, Vox Media, NBC News, and others, have decreased.
© Copyright 2023. All Rights Reserved Powered by Vygr Media.
