MTV News shuts down as Paramount Media Networks and affiliates lay off 25% of US staff.

Paramount is laying off 25% of employees across Showtime, MTV Entertainment Studios, and Paramount Media Networks groups in the US, with MTV News shutting down. The decision comes after months of internal deliberations about integration amid Showtime's rebranding into Paramount+. The majority of the layoffs will be among the networks group due to consolidation. Paramount's success in streaming has been affected by broader economic headwinds, leading to the strategic realignment of the group.