As a fan who has grown up with some of the most captivating and groundbreaking shows from Paramount Television Studios (PTVS), I am deeply saddened by the news that PTVS will cease operations. The studio’s unparalleled contributions to the world of entertainment have been nothing short of extraordinary, shaping culture and pushing boundaries in a way that few other studios can claim.
Paramount Global is closing its self-titled television production studio, a move made during a significant wave of job cuts throughout the organization.
Beginning next week, operations at Paramount Television Studios will come to a close, as confirmed by Nicole Clemens, the studio’s president, along with George Cheeks, co-CEO of Paramount. In this transition, Ms. Clemens will be leaving the company. All ongoing series and projects currently under development at Paramount TV Studios – such as ‘Reacher’, ‘Time Bandits’ for Apple, and the upcoming ‘Cross’ on Prime Video – will now fall under the CBS Studios umbrella.
Last week, Paramount revealed plans to dismiss 15% of its U.S.-based workforce, which adds up to approximately 800 employees who were let go six months prior. This move is part of an overall cost-cutting strategy aimed at saving $500 million before the anticipated merger with Skydance. The leadership team, comprising Bob Bakish, Brian Robbins, and Chris McCarthy, informed staff on Tuesday that the layoffs would commence immediately and be spread across three phases throughout the rest of the year.
“In light of the situation, you might have noticed that Paramount Global is choosing to shut down Paramount Television Studios as part of their larger company restructuring efforts. It’s important to mention that this period has been tough and transformative for the entire entertainment industry, and unfortunately, our studio is not exempt from these changes.”
“For the past 11 years, PTVS has managed to overcome seemingly impossible hurdles by blending force, persistence, and unyielding dedication. We’ve faced these difficulties with remarkable adaptability, ingenuity, and fervor for our work, and I couldn’t be more pleased with our team.”
In a different document, Cheeks mentioned that the closure of the studio wasn’t due to PTVS’s performance. Instead, it was a response to major shifts in the television and streaming industry, requiring us to restructure our business for efficiency.
In 2018, Clemens moved on to Paramount Television Studios, having previously served as an agent, manager, and executive at FX. Her responsibilities expanded in 2021 to include supervising scripted content for Paramount+.
Beyond Reacher, Time Bandits, Cross, and others, the lineup at Paramount TV Studios also includes Interview With the Vampire (in collaboration with AMC Studios), as well as forthcoming projects titled Before and Murderbot.
Clemens’ and Cheeks’ memos to staff are below.
Clemens:
Dear PTVS Family,
It’s important to note that due to its wider reorganization, Paramount Global has chosen to shut down Paramount Television Studios. This decision comes at a time when our whole industry is experiencing hardship and change, and unfortunately, our studio is not exempt from these difficulties.
For more than a decade, PTVS has triumphantly overcome seemingly impossible hurdles by blending force, tenacity, and an indomitable spirit. We’ve faced these difficulties with remarkable adaptability, ingenuity, and fervor for our craft, and I couldn’t be more proud of our team. Furthermore, we’ve been fortunate to work alongside some of the brightest minds in the creative industry to bring captivating tales to life, stories that have left their mark on a global scale, providing both entertainment and shaping our culture.
Although Paramount Television Studios is closing its doors, the spirit of our work will endure through the popular series that will continue captivating audiences worldwide for years to come. We’ve left an indelible mark on the industry by nurturing some of the most impactful, honored, and highly-rated shows in the streaming era, including “13 Reasons Why,” “The Offer,” “Defending Jacob,” “The Alienist,” “The Haunting of Hill House,” “Station Eleven,” “Time Bandits,” and numerous others. We’ve shattered records on streaming platforms with productions like “Tom Clancy’s Jack Ryan,” “Reacher,” and “The Spiderwick Chronicles.” Our forthcoming projects, “Cross,” “Before,” and “Murderbot,” are poised to join the ranks of these successful shows.
Reflecting on my journey so far, I can confidently say that this chapter has been pivotal and transformative for me professionally. The primary reason is the exceptional team members who I have had the privilege to guide and learn from daily. Their unwavering support, inspiring influence, and shared laughter over the past six years have not only enriched my work experience but also significantly contributed to my personal growth. I am deeply grateful for your presence in my life during this period. Without a doubt, I could not have wished for a better partner in the professional battlefield than you.
As a gamer, I’d like to express my gratitude to George Cheeks for his exceptional leadership and unwavering support throughout our journey. There might be some emotional moments as we part ways, but this game is a marathon, and I am confident that our paths will cross again, whether it’s in the same team or on different sides of the battlefield.
“Many times, when you believe you’ve reached the end of a journey, you’re actually stepping into the start of another.” – Fred Rogers (paraphrased)
With heartfelt gratitude,
Nicole
***
Cheeks:
CBS Team,
From the email Brian, Chris, and I previously sent, you can see that it’s a challenging day for Paramount Global. I’m contacting you to let you know that today’s announcement has unfortunate implications for CBS, affecting one of its studios as well.
Recently, we shared with Paramount Television Studios (PTVS) that their operations will conclude by the end of this week. It’s important to clarify that this decision is not due to PTVS’ performance, but rather a response to substantial shifts in the television and streaming industry. This action aims to optimize our company structure.
I’d like to express my gratitude to Nicole Clemens, President of PTVS, and her skilled team for the numerous remarkable productions they have delivered. Under Nicole’s guidance, this studio has consistently outperformed expectations by attracting leading storytellers and stars to create exceptional series. I would also like to thank every PTVS employee for their role in steering a collection of shows that guided Paramount into the streaming era.
Going forward, all current PTVS series and development projects will transition to CBS Studios.
Apart from some team members at PTVS, there will also be individuals from CBS teams who are planning to depart from our company. These are esteemed colleagues whom we hold in high regard due to their exceptional skills. Their talents have played a significant role in helping us achieve our current leadership position. I would like to take this opportunity to extend my heartfelt thanks for their invaluable contributions, tireless effort, and unwavering dedication.
Moving ahead, let’s remember to think positively about these colleagues. Our Human Resources teams and their associates are working hard to assist them during this transition.
Today, there’s plenty to catch up on. I understand it can be overwhelming. Yet, I’m consistently amazed and thankful for how our teams manage to keep their focus and remain united throughout these periods of change.
George
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2024-08-13 20:25