News24.com | MTV News shuts down after 36 years

After 36 years, Paramount Media Networks has pulled the plug on MTV News, CNN reports.

News that the American cable network TV channel was being shut down was announced earlier in the week. According to the report, its US workforce was also slashed by 25%.

Paramount Media Networks, MTV and Showtime boss Chris McCarthy said the company continued to "feel pressure from broader economic headwinds like many of our peers", despite the media giant's "success" in streaming.

"As a result, we have made the very hard but necessary decision to reduce our domestic team by approximately 25%," he said in the report. "Through the elimination of some units and by streamlining others, we will be able to reduce costs and create a more effective approach to our business as we move forward."

Per The Hollywood Reporter, MTV News launched as a single show, The Week in Rock, in 1987 led by Kurt Loder, and it became a "bona fide" news outlet for Gen X and older millennials.

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