Showtime Hit By Layoffs After Paramount+ Merger
Showtime laid off around 120 employees Monday as the premium cable network prepares to merge with parent company Paramount Global’s flagship streamer, Paramount+, a company spokesperson confirmed to The Hollywood Reporter.
It’s not immediately clear which Showtime divisions were impacted, but the layoffs came the same day Paramount Media Networks chief Chris McCarthy said the company will consolidate leadership across MTV Entertainment Studios and Showtime.
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As part of the shuffle, Nina L. Diaz will serve as chief creative officer and president of content of Showtime/MTV Entertainment Studios. Keith Cox, the head of scripted content at MTV Studios, will report up to Diaz as the president of scripted for both divisions.
Showtime co-president of entertainment, Jana Winograde, COO and CFO Michael Crotty, executive vp nonfiction Vinnie Malhotra, executive vp and general counsel Rob Rosenberg and vp and entertainment counsel Kent Sevener are all set to exit Showtime as part of the leadership changes. Showtime co-president Gary Levine will transition to an advisory role.
On Jan. 30, Paramount Global announced that Showtime’s linear pay-TV channel and the premium tier of Paramount+ will be rebranded as Paramount+ With Showtime. McCarthy will lead the Showtime studio and linear channel, while Tom Ryan, the president and CEO of Paramount Streaming, will oversee the streaming business.
Paramount is set to report its fourth-quarter 2022 earnings on Feb. 16.
