Layoffs hit Showtime amid Paramount overhaul

Paramount Global continues to unwind its once-proud Showtime model.

On Monday, almost two weeks after asserting the premium cable channel could be renamed Paramount+ with Showtime, the New York media firm unveiled a brand new organizational construction that unites Showtime with MTV Entertainment Studios.

As a part of the transfer, two senior executives who had been managing Showtime — programming govt Gary Levine and enterprise govt Jana Winograd — stepped down. Levine, who has overseen Showtime’s unique programming for 22 years and helped craft the community’s largest hits, together with “Dexter,” “Homeland,” “Billions” and “Yellowjackets,” will tackle a brand new position as senior artistic advisor, reporting to Chris McCarthy, president of Paramount Global’s media networks and the newly consolidated Showtime/MTV Entertainment Studios.

“Gary’s contributions to Showtime might surpass those of anyone in the history of the network,” McCarthy stated in a observe to workers to announce the consolidation.

Winograd, a six-year veteran of Showtime, will depart the corporate.

In addition, about 120 Showtime workers have been laid off Monday, a spokesperson confirmed.

The consolidation comes amid widespread downsizing all through Hollywood as legacy leisure corporations slash prices to attempt to exhibit fiscal duty to Wall Street. Last week, the Walt Disney Co. introduced it was eliminating 7,000 positions after billion-dollar losses from its streaming technique drew the ire of an activist investor. Last week, Disney Chief Executive Bob Iger — who returned to the corporate in November — acknowledged that the corporate had binged an excessive amount of on the prospect of streaming service subscriber progress.

In the final 9 months, Netflix, NBCUniversal and Warner Bros. Discovery even have initiated workers cuts.

The Showtime shuffle was not sudden.

Three years in the past, CBS Corp. (Showtime’s longtime mother or father) merged with Viacom Inc., and Viacom administration assumed management, resulting in a gentle exodus of many senior CBS executives. The merger introduced collectively CBS, MTV, Nickelodeon, Comedy Central, BET and the Paramount Pictures movie studio in Los Angeles.

Nearly a 12 months in the past, Paramount Global Chief Executive Bob Bakish introduced that ViacomCBS was rebranding itself Paramount Global. The title change was designed to lean into the storied historical past of its Hollywood film studio in addition to the revitalization of the Paramount fundamental cable channel, which runs the hit sequence “Yellowstone.”

Last fall, McCarthy assumed higher management over the corporate’s TV channel enterprise, displacing Showtime’s revered chief, David Nevins, who left the corporate in December after 12 years. Paramount leaders now are dismantling the construction that Nevins had put in place.

In late January, Bakish introduced that the corporate deliberate to spend a lot of the 12 months integrating Showtime into Paramount+, together with the streaming service in addition to the linear channels.

The leisure division, unveiled Monday, can be referred to as Showtime/MTV Entertainment Studios. McCarthy entrusted longtime lieutenant Nina L. Diaz with higher duties; she turns into chief artistic officer and content material president. Keith Cox was named president of scripted and Amy Israel will proceed as govt vp for Showtime unique scripted exhibits. Both report back to Diaz.

Keyes Hill-Edgar will develop into chief working officer, reporting to McCarthy.