Paramount Television Studios has had a very long and successful history. 11 years of history since it was founded in March 4, 2013. Heck, it’s actually even longer if you take into account that it’s the successor to Paramount Television. That was the original television divison for Paramount. That original division started work all the way back in 1966. In fact, it only became defunct just a short while ago in 2006. If you count that length of operation, then the combined length of time equals 51 years of history for that television studio. A little over half a century. Imagine that.

Alas, all of that history shall now come to an end. All thanks to Paramount Global and their “cost-cutting”. Certainly a clean way to say that they are shutting down Paramount Television Studios and firing everyone there.

Paramount Television Studios: Shutdown Details

Comic Book is not proud to reveal that Paramount Television Studios will cease operations by the end of this week. All as part of the consequences of Paramount Global’s recent merger with Skydance. In fact, this shutdown confirms that they have carried out that merger. Why this means that they have to shut down their venerable television divison? Who knows? All we know is that this is part of a much larger round of layoffs that includes 15% of its US workforce.

Paramount Television Studios won’t be completely gone though. CBS Studios will absorb the studio, including all of their current TV series and all projects currently in development. The list of series and projects making the move to CBS includes 13 Reasons Why, The Alienist, Station Eleven, Time Bandits, and The Spiderwick Chronicles.

As for how Paramount Global informed Paramount Television Studios of its shutdown? Why, via memos sent out to employees from Paramount TV Studios President Nicole Clemens and CBS President and CEO George Cheeks. You can read the contents of that memo below:

Office of George Cheeks Memo

CBS Team,

As you saw from the email Brian, Chris and I sent earlier, this is a very difficult day at Paramount Global. I’m reaching out to share that today’s news unfortunately impacts CBS, including one of our studios.

A short time ago, we informed the team at Paramount Television Studios (PTVS) that the studio will cease operations at the end of the week. To be clear, this is not a decision based on how PTVS performed. This move is the result of significant changes in the TV and streaming marketplace and the need to streamline our company.

I want to thank PTVS President Nicole Clemens and the talented team she built for the many signature hits they produced. Under Nicole’s leadership, this studio consistently punched above its weight in attracting top storytellers and stars to create best-in-class series. I want to thank every PTVS employee for shepherding a slate of shows that helped usher Paramount into the streaming era.

Going forward, all current PTVS series and development projects will transition to CBS Studios.

In addition to PTVS, there are members of CBS teams who will be leaving the company. These are valued colleagues we admire and respect, whose talents contributed to the leadership position we enjoy today. I want to express my deepest gratitude for their contributions, hard work and dedication.

As we move forward, please keep these co-workers in your thoughts as our HR teams and their teammates help support them through this process.

There is a lot of news to unpack today. I know it’s unsettling. I continue to be impressed and grateful for our teams’ ability to stay focused and stick together during this transitional time.

George

Source: Comic Book