A major Paramount division has announced it will shutter MTV News and slash its US workforce by 25 per cent, bringing to an end the iconic music video network's news division that once covered a range of issues from pop culture to politics and became a household name for Generation X and Millennial adolescents.Chris McCarthy, who heads Paramount Media Networks, MTV and Showtime, said in a memo to staff that despite the media giant's "success" in streaming, 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 per cent," he continued.
Load More
Load More
