By combining Paramount+ and Showtime streaming platforms, Paramount is making significant changes to its streaming and linear businesses. Executives warned about the adjustments regarding potential layoffs and upcoming programming changes. The gap was discussed by Paramount CEO Bob Bakish in a message to colleagues on Monday afternoon, confirming long-circulating rumors.
The news was shared with the studio staff by Paramount CEO Bob Bakish, who also explained that the premium tier of Paramount+ and the linear pay-TV channel Showtime would be renamed Paramount+ with Showtime.
The memo also verified that the recent rumors were true. Bakish said regarding the merge in the note:
“While we are satisfied that this is the best course of action for our customers, business, and partners. We realize this shift generates uncertainty for those working on these companies and brands. We are dedicated to being as open and considerate as we can throughout this process, and we anticipate sharing more information in the upcoming weeks.”
Despite this success, some people had predicted that Showtime would be merged into a platform other than cable because of Paramount’s desire to increase streaming statistics with the recently established Paramount+. It now appears that this prediction was accurate.
Chris McCarthy will take charge of the Showtime studio and linear channel, while Tom Ryan will oversee the streaming division. McCarthy has revealed that programs with “less than 10 percent of our views” will be canceled.
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No specific dates for this rebranding have been announced. Even while the merger is in the works for a while, it still seems to be in the early stages, which leaves many questions unanswered for the time being.