Subscribers of Paramount Plus are anxious about the fate of the streaming platform and wondering if it is shutting down, following the recent announcement of Paramount TV Studios‘ (PTVS) shutdown ahead of its preparations to merge with Skydance Media. Moreover, they are concerned about the fate of shows produced under the purview of Paramount TV Studios, like Amazon Prime Video’s Reacher, following the shutdown. They are also wondering if such shows will have its production now overseen by CBS Studios.
So is Paramount Plus shutting down and why is Paramount TV shutting down? Furthermore, what will happen to all currently running Paramount TV shows following the shut down? Here is a breakdown of the buzzing situation.
Is Paramount Plus shutting down?
No, Paramount Plus is not shutting down.
This is because Paramount Plus is an entirely different entity from Paramount TV Studios. As such, due to a lack of direct relation between the streaming platform and the soon-to-be former division of Paramount Global, Paramount Plus will remain unaffected.
Why is Paramount TV Studios shutting down?
Paramount TV Studios is shutting down on account of broader restructuring plans.
This was revealed by Nicole Clemens, president of Paramount TV Studios in a memo to the PTVS employees (via Deadline). In the memo, she also thanked the employees and CBS President and CEO George Cheeks for being supportive and inspirational in her career. Additionally, Clemens opined how their “ethos” would live on in the successful shows they helped produced, like Reacher and Tom Clancy’s Jack Ryan.
George Cheeks also clarified in a separate memo that PTVS’ shutdown was not because of its performance. Instead, it was due to the need to streamline the company. Furthermore, it is because of the key changes in the streaming and TV market but does not indicate that Paramount Plus is shutting down.
What happens to all ongoing Paramount TV shows after Studio shuts down?
Moving forward, CBS Studios will manage all ongoing Paramount TV Studios-produced shows after the latter’s shutdown.
This includes shows like Amazon Prime Video’s Cross and Reacher, as well as Apple TV’s Time Bandits and Murderbots. Thus, fans interested in these upcoming projects need not be worried about any potential cancelations.
