Paramount Skydance: MTV Cuts & Future Streaming Plans

Paramount Skydance seeks $500M in cuts. MTV UK shuts down 5 channels. US operations face potential downsizing and shift to streaming due to cord-cutting challenges and future growth strategies.

Paramount Skydance’s management headed by Ellison and Covering, the previous head of NBCU, are looking for as much as $500 million in cuts– and MTV will not be alone. Various other properties dealing with simplifying consist of CBS’s information and sporting activities networks.

MTV UK Channel Closures

Exploration. As the Article’s Taylor Herzlich reported this week, MTV “is shutting 5 terminals in the UK, consisting of MTV Music, MTV 80s, MTV 90s, Club MTV and MTV Live,” with all five networks slated to go dark after Dec. 31.

US Operations at Risk

MTV’s four-decade work on cable television in the US won’t end anytime soon– yet it’s at danger of coming to be an eventual casualty as the renowned network’s company proprietors look for methods to slash costs, Accurate has discovered.

The video channel that released in 1981 and morphed into a reality-TV destination is– like its sis networks Comedy Central and Nickelodeon under media giant Paramount Skydance– getting knocked by cable cutting.

These people say whatever is on the table, including a possible radical downsizing that entirely junks the United States cable network in response to cord cutting and to aid finance future growth strategies consisting of Ellison’s planned proposal for Detector Bros.

In the meantime, CEO David Ellison and his No. 2, Jeff Covering have no plans to shutter MTV’s US operations largely since it’s a famous brand with enough viewership to maintain it running, resources inform On The Money.

Future: Streaming Home?

But the superiors at Paramount Skydance are considering their choices for MTV, insiders claimed. One future opportunity: Transforming what stays of the franchise right into a pure-play streaming home, according to resources informed on the discussions.