MTV News is set to shut down after 36 years on air as the company faces huge layoffs for staff.
The network originally launched as a single show in 1987 before finding incredible success, but is now facing the axe. The channel's parent company, Paramount Global, has announced its plans to layoff 25 per cent of its work force due to financial pressures.
In a memo to staff, Showtime/MTV Entertainment Studios and Paramount Media Networks president Chris McCarthy said: “This combination has resulted in an incredible track record of hits… However, despite this success in streaming, we continue to feel pressure from broader economic headwinds like many of our peers.
