Every successful cycle has a dizzying fall and finally its end, and this is what happens with it Paramount Television Studioshome to Snowy Mountain’s best series and audiovisual productions, has been closed since Tuesday, August 13.
Paramount TV Studios President Nicole Clemens and CBS Chairman and CEO George Cheeks, who oversees the division, announced the decision in separate memos.
“To be clear, this is not a decision based on how PTVS is performing. This move is a result of the significant changes in the television and streaming marketplace and the need to simplify our business,” Cheeks said. “Under Nicole’s leadership, this studio has consistently strived to attract the best storytellers and stars to create best-in-class series. I want to thank the entire staff at PTVS for nurturing a slate of shows that have helped Paramount enter the streaming era.”
From now on, all series and programs that were under the auspices of Paramount They will move to CBS.
There has been speculation about a CBS Studios and Paramount TV Studios merger since the CBS-Viacom merger was announced in 2019. Brad Grey was fired from Paramount Pictures in 2013, and Paramount TV Studios was the smaller of the two and its size peaked when Paramount+ scaled back its plans to increase original scripts to stem streaming losses.
Notable series produced by PTVS over the years include: 13 Reasons Why, The Alienist, Station Eleven, Time Bandits, The Spiderwick Chronicles.
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