It all began in 1987, with a new show called The Week in Rock, hosted by an unknown personality named Kurt Loder. What spawned was almost a four-decade run of MTV News, and unfortunately that run has come to an end.
Amidst a cut to 25% of its workforce, Paramount announced they would be shutting down MTV News after 36 years on the air.
Per CNN, Chris McCarthy, who heads Paramount Media Networks, MTV and Showtime, said in a memo Tuesday that despite the media giant's "success" in streaming, the network continues to "feel pressure from broader economic headwinds like many of our peers. As a result, we have made the very hard but necessary decision to reduce our domestic team by approximately 25%."
Through the elimination of some units and by streamlining others, we will be able to reduce costs and create a more effective approach to our business as we move forward."
McCarthy described the cuts as a "strategic realignment," which aims to "streamline units and reduce overall costs," which will allow the company to be more effective as it moves forward.
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