Paramount Television Studios, a production facility originally aimed at getting Paramount Pictures back into the business of making TV series, will shut down, the latest bout of cost cutting by parent corporation Paramount Global as it seeks to eliminate $500 million amid a chaotic shift in the entertainment industry.
“This has been a challenging and transformative time for the entire industry, and sadly, our studio is not immune,” said Nicole Clemens, president of the unit, which debuted in 2013, in a memo to staffers. “Over the past 11 years, she said, the studio “has weathered seemingly insurmountable obstacles through a combination of strength, determination, and unwavering commitment. We met
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