Paramount Announces Studio Closures, After Merger With Skydance

TV & Film

Aug 15

Image Source: Paramount

As part of its merger with Skydance, Paramount announced that Paramount Television Studios will cease operations at the end of this week. Projects currently in development at PTVS will be assumed into CBS Studios. The closure comes with layoffs affecting 15% of U.S. employees. One of the employees leaving the company is PTVSA president Nicole Clemens. Clemens expressed her gratitude to the company in a letter she shared with her staff. She wrote, “This has been a challenging and transformative time for the entire industry, and sadly, our studio is not immune. Over the past 11 years, PTVS has weathered seemingly insurmountable obstacles through a combination of strength, determination, and unwavering commitment. We met these challenges with incredible resilience, creativity, and passion for what we do, and I could not be prouder of our team”

PTVS produced popular streaming shows Reacher, The Spiderwick Chronicles on Roku, Time Bandits, 13 Reasons Why, The Haunting of Hill House, and Tom Clancey’s Jack Ryan among others. The company hopes the upcoming shows Cross, Before, and Muderbot continue the streak. Paramount co-CEO George Cheeks thanked Clemens for her dedication in a staff memo. He wrote, “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.”

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Nicole Clemens — Image Source: MIA Mercato Internazionale Audiovisivo

The letter continued, “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.” Layoffs began on Tuesday of this week and will be conducted in three phases through the remainder of the year.

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