Paramount TV Studios Consolidates Development and Current Operations, Senior Executives Affected

Paramount Global, the media conglomerate behind iconic entertainment brands like Paramount Pictures and Paramount Television Studios, has made significant organizational changes, including layoffs and restructuring efforts. Among the key changes is the consolidation of development and current operations within Paramount TV Studios, affecting various senior executives within the company.
Before today’s layoffs, there had been speculation regarding the potential downsizing of Paramount TV Studios. The studio, under the leadership of Nicole Clemens, had previously operated independently from CBS Studios. However, in November 2022, the two entities centralized support operations, including finance, legal, production, business affairs, and casting.

The decision to merge development and current operations is part of Paramount Global’s broader strategy to streamline its operations and adapt to evolving industry trends. By combining these functions, the company aims to enhance efficiency and optimize resources to better meet the demands of today’s rapidly changing entertainment landscape.

However, these organizational changes have also resulted in layoffs and the departure of several senior executives. While specific details about the extent of the layoffs and the identities of the affected executives have not been disclosed, the restructuring is expected to impact various departments and levels of the organization.

The announcement of layoffs and restructuring efforts comes at a challenging time for the entertainment industry, which has been grappling with disruptions caused by the ongoing COVID-19 pandemic, shifts in consumer behavior, and increasing competition from streaming services and digital platforms.

Paramount Global’s decision to restructure its operations reflects a broader trend within the media and entertainment sector, as companies seek to adapt to changing market dynamics and position themselves for long-term success in an increasingly digital and competitive environment.
Paramount TV Studios, which integrated Paramount+’s scripted originals team in 2022, is currently optimizing its programming operations by merging development and current responsibilities under the leadership of Head of Development Jana Helman. Helman will maintain her reporting line to studio president Clemens throughout this consolidation process.
PTVS has had a stand-alone current department since 2019, led by former Disney ABC current executive Cheryl Bosnak. Departing alongside Bosnak are Kate Gill, SVP of Development; Julie Katchen, VP of Current; and Devin Crossfield, Manager of Development. Additionally, PTVS’ SVP and Head of Communications Dominic Pagone, who assumed the role a year ago following extensive tenures at Showtime and FX, will also be leaving. CBS Studios and PTVS’ communications functions will now operate under CBS Studios’ EVP Communications Kristen Hall. Despite these changes, CBS Studios and Paramount TV Studios’ development and current teams will continue to operate independently.

Paramount CEO Bob Bakish expressed gratitude to those departing in a company memo at the outset of today’s layoffs, acknowledging their hard work and dedication. He credited their talents with advancing the company’s mission of unleashing the power of content worldwide.

Similar to other traditional media enterprises, Paramount has encountered challenges due to a decline in advertising revenue as it adapts to the shift from linear TV to streaming platforms.

As the entertainment industry continues to evolve, Paramount Global’s restructuring efforts underscore the importance of agility, adaptability, and forward-thinking strategies in navigating today’s complex and ever-changing landscape.

While the layoffs and organizational changes may bring uncertainty for those affected, Paramount Global remains focused on its mission of entertaining audiences around the world and shaping the future of entertainment through creativity, innovation, and storytelling.

Published by HOLR Magazine.

Cover photo credit: Getty