TMT Insights, which specializes in professional services and software development for the media and entertainment (M&E) industry, is accelerating business transformation initiatives with the formation of a new division, Media […]
In the latest wave of industry layoffs, the recently combined Showtime/MTV Entertainment Studios as well as Paramount Media Networks, overseen by the division’s President and CEO Chris McCarthy, is reducing its domestic team by 25% today. McCarthy addressed the cuts, which he called a “very hard but necessary decision”, in a company memo. According to sources, the basic cable networks were most heavily impacted, with a number of units being shut down as part of consolidation, mostly on the operations side.