MTV, a division of Paramount, is planning to shut down its news division and lay off 25 percent of its workforce. The company cited "broader economic headwinds" as the reason for the shuttering. The decision comes as Paramount makes cuts to better compete with rival entertainment giants.   

MTV, a division of Paramount, is planning to shut down its news division and lay off 25 percent of its workforce. The company cited "broader economic headwinds" as the reason for the shuttering. The decision comes as Paramount makes cuts to better compete with rival entertainment giants.&nbsp; &nbsp;

Wake Up With Cheddar

MTV Is Shutting Down News Division as Paramount Struggles

And it's an end of an era paramount media network announcing yesterday, it's pulling the plug on MTV News. The decision seems to have been made from a broader economic standpoint despite the success in streaming, according to a memo sent to staff from the division's president. Once upon a time MTV News was a go to place for interviews with leading artists in the music industry. But social media and streaming did put that to bed. The company also announced it will be cutting its US workforce by 25%. I loved MTV News. I love Kurt Loder. I loved all the anchors, Serena Al who's on at CBS Sunday mornings. I mean, 36 years is how long MTV News was a property and you would see them at the top of every hour. A young baker wanted to be on MTV News so bad. And if anything, my whole entire journalistic perspective was formed by wanting to be on MTV. So true.