Summary
Paramount Television Studios, the studio responsible for producing shows likeReacherand others, is shutting down, and it could affect some of its original programming. Paramount TV is a division of the larger media company Paramount Global, one that focuses on producing shows for Paramount+ and other streaming services like Apple TV+ and Amazon Prime Video. Paramount TV is also responsible for some ofthe best shows on Paramount+, such asKnucklesandThe Offer. Those successful shows weren’t enough to prevent the upcoming shutdown, though.
The President of Paramount TV, Nicole Clemens, and the co-CEO of Paramount Global, George Cheeks, announced on Tuesday that the studio would be shutting down (viaThe Hollywood Reporter). The news of Paramount TV’s shutdown makes the future of its various shows somewhat uncertain, asReacherwill experience a studio change. While the news is still fresh and it’s difficult to say exactly what the future will hold for the show, there are some clues about what Paramount TV’s shutdown means forReacherand other shows.
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Why Paramount TV Studios Is Shutting Down
Paramount TV Studios is shutting down mainly because its parent company, National Amusements, was bought by another media company: Skydance Studios(viaThe Hollywood Reporter). Paramount Global will then merge with Skydance, mainly because Paramount Global has $14.6 billion in long-term debt, which Skydance has promised to help deal with by investing in the company (viaThe Washington Post). After the merger is complete, Paramount Global will operate with Skydance as one of their studios, albeit without Paramount TV Studios.
Shari Redstone owned the controlling stake in National Amusements, Paramount Global’s parent company. Redstone sold that stake to Skydance, and when the deal is completed, Skydance will own Paramount and other media companies, such as CBS, Nickelodeon, MTV, and Comedy Central.
To facilitate the merger of Paramount Global and Skydance, the former aimed to cut down on $500 million worth of costs. To save that money, Paramount Global has taken measures like laying off 15% of its employees (viaThe Hollywood Reporter). Now,Paramount TV has also been shut down to help achieve that goal of eliminating $500 million in costs(viaVariety). Paramount TV Studios President Nicole Clemens said in a memo that the shutdown “is not a decision based on how PTVS performed. This move is the result of significant changes in the TV and streaming marketplace and the need to streamline our company,” (viaThe Hollywood Reporter)
Paramount TV’s shutdown should not affect the streaming service Paramount+. Paramount Global has not announced any changes to Paramount+ in light of its upcoming merger.
What TV Shows Fall Under Paramount TV Studios & What Happens To Them
While not responsible for all of Paramount Global’s programs, Paramount TV Studios was in charge of several former, ongoing, and upcoming series. Those series include massive successes likeReacherandKnuckles, along with anticipated upcoming projects likeCrossandFlashdance. As a production studio, Paramount TV also produced series for any number of streaming services, not just Paramount+.Once Paramount TV is officially shut down, its projects will be transferred to the control of CBS Studios, another studio owned by Paramount Global(viaVariety). CBS Studios was already involved in some of Paramount TV’s upcoming projects, likeThe Amazing Adventures of Kavalier and ClayandLove Story.
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How Will Reacher Season 3 Be Affected By Paramount TV’s Shutdown?
The news of Paramount Television Studio’s shutdown is still very fresh, so it’s difficult to say with certainty what will happen to its various shows.That being said, it does seem that the future ofReacherseason 3 remains safe.Reacherseason 3 was confirmedeven before season 2 was released, and the series has alreadybroken streaming records for Amazon Prime Video. It’s the perfect example of a valuable series, and it’s highly doubtful Paramount Global’s merger would impact it much. On top of that, Skydance Television had already worked onReacher, which should help the show avoid issues with the merger.
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Even though Paramount TV’s shutdown likely won’t endReacher, that doesn’t mean it will definitely escape the merger unscathed. A shutdown as big as this is a major change behind the scenes, and there’s bound to be some issues as CBS Studios takes over. Those issues could lead to production delays forReacher.It’s also not clear exactly what will happen to Paramount TV’s employees, meaningReachercould undergo a change in its creative vision in the future. In essence, it’s too soon to tell exactly how the shutdown of Paramount TV will affectReacher.
As for other television shows beyondReacher, their possible fates are probably more uncertain. Paramount Global is clearly interested in cutting costs ahead of its merger, and less successful shows may be deemed to expensive to continue. Paramount TV also had quite a few projects in development, and CBS Studios may not be big enough to continue with all the shows both studios had in development. Even if they aren’t outright canceled, several shows could experience delays due to the merger and the behind-the-scenes restructuring. While the future ofReacherseems safe after Paramount Television Studio’s shutdown, it’s still uncertain.
Reacher
Cast
Reacher follows Jack Reacher, a former military police investigator, as he navigates civilian life. Without a phone and carrying minimal belongings, Reacher drifts across the country, experiencing the nation he once served, and encounters intriguing challenges along the way.
