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Paramount Global announced on August 13, 2024, that Paramount Television Studios (PTVS) would stop operating at the end of that week. The closure was part of broader company cuts, and Paramount said the studio’s current series and projects in development would move to CBS Studios. It was not a permanent end: Paramount Skydance later revived PTVS as part of a reorganization, and its 2026 filings describe the studio as active.
What happened in August 2024?
On August 13, Paramount Global announced that PTVS would cease operations at the end of the week. Co-CEO George Cheeks attributed the decision to significant changes in the television and streaming marketplace and the need to streamline the company. He also told staff, “This is not a decision based on how PTVS performed.” That is management’s stated rationale, not independent proof of what drove the decision. Los Angeles Times, August 13, 2024
The announcement came amid a wider restructuring. In April 2024, Paramount had described an Office of the CEO—George Cheeks, Chris McCarthy, and Brian Robbins—with a mandate to develop a long-range plan, streamline operations, strengthen the balance sheet, and optimize streaming strategy. That release listed PTVS among Cheeks’s leadership responsibilities, but does not explain why PTVS was selected for closure. Paramount Global, April 29, 2024
How large were the cuts?
The PTVS closure was one piece of Paramount Global’s company-wide workforce reduction plan, not a studio-only version of the reported figures. The Los Angeles Times reported that Paramount aimed to reduce its U.S. workforce by 15%, or roughly 2,000 positions, and save $500 million annually. Those were company-wide targets reported in 2024. The paper separately estimated that up to 30 people could leave in connection with the PTVS closure; that estimate is not a confirmed final count. Los Angeles Times, August 13, 2024
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The Times also placed the cuts in the context of cost reduction and a weakening traditional pay-TV environment. That context helps explain the pressures facing Paramount, but does not establish one factor as the definitive cause of the studio closure. Los Angeles Times, August 13, 2024
What happened to PTVS shows and projects?
At the time of the shutdown announcement, Paramount said PTVS’s current series and development projects would transfer to CBS Studios. Contemporary coverage identified Reacher, The Spiderwick Chronicles, and Station Eleven among PTVS-produced titles, and cited projects in development including Cross, Before, and Murderbot. Those examples describe the studio’s slate around the closure; they do not establish each title’s later production status or final production credit. Los Angeles Times, August 13, 2024
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is Paramount Television Studios still shut down?
No. In November 2025, Paramount Skydance said it had combined Showtime/MTV Entertainment Studios, Nickelodeon Live Action, and Skydance Television to form a revitalized Paramount Television Studios. The revived studio is not simply evidence that the 2024 closure never happened: the name and operation returned in a reorganized studio group. Paramount Skydance Corporation, Q3 2025 filing
Paramount Skydance’s August 2026 Q2 filing places PTVS within its Studios segment and describes it as producing content for Paramount+ and other distributors. The filing reports 20 active titles for Paramount+ under PTVS; its broader figure of more than 90 series and 800-plus episodes expected from television studios in 2026 applies to the company’s TV studios overall, not PTVS alone. These slate figures are dated disclosures and can change. The filing also notes a new segment-reporting structure, so segment figures should not be compared with earlier reporting without adjustment. Paramount Skydance Corporation, Q2 2026 filing
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