Skydance Media is looking to finalise it's acquisition with Paramount Global to form a new entity known as Paramount Skydance Corporation. As some have heard, the merged company is looking to shed $2 billion in costs most of which is being directed to its cable networks.
A few months ago, it was reported that Paramount Global was looking to discontinue various MTV channels across Europe primarily music brands like MTV 90s and MTV Hits. These brands are set to go dark by the end of 2025 as the company is re-evaluating it's international strategy.
These endeavours have also hit Africa with reports going around that the company is looking to close its local operations in the region affecting MTV Base and BET Africa. From what some insiders have revealed, Paramount Skydance Corporation is shifting more toward film and streaming.
This means MTV Base, MTV Hits and MTV 90s are no longer viewed as core brands for the merged company as this audience had shifted to Apple Music, Spotify and YouTube. Paramount Skydance Corporation doesn't see any profit coming from these networks.
MTV Europe for sometime had shifted toward reality TV with Catfish: The TV Show and Teen Mom while music served as an afterthought on weekday mornings. We can only assume with the closures of these brands, Paramount Skydance Corporation could phase this out from its offering entirely.
In other developments, Paramount Global is also looking to close Comedy Central, Paramount Network, TeenNick and NickMusic in Hungary. The company is expected to retain Nickelodeon, Nick Jr., Nicktoons, MTV and Comedy Central channels in the region.
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