MTV News will reportedly shut down soon, after being in business for 36 years. The move comes as MTV News’ parent Paramount Global is resorting to mass layoffs.
According to The Washington Post, MTV News shutting down news comes on the backdrop of Paramount layoffs. The layoffs at the parent company are expected to impact 25 per cent of the employees at Showtime, MTV Entertainment Studios and Paramount Media Networks.
However, as far as the impact of Paramount Global layoffs goes, the job cuts are reportedly expected to greatly impact MTV News, which will shut down completely.
The shutting down of MTV News and Paramount Global comes weeks after several news and media organisations fell prey to the global economic downturn. As recession fears set in, several giants like BuzzFeed News, Vice Media and CNN etc., have also either shut down or resorted to mass layoffs.
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As per the publication’s report, MTV, the popular music channel launched its news business in late 1980s and became a hit with Generation X and older millennials. The channel also reportedly brought news and analysis to the music generation.
In addition to this, several staffers also reportedly took to Twitter and empathised with the shutting down of MTV News. As far as Paramount layoffs go, the job cuts come in line with the grim macro-economic outlook as several companies navigate tricky waters.
