The changes come as Skydance TV and the former MTV Entertainment and Showtime groups come under the Paramount TV Studios banner, led by Matt Thunell.

Paramount Skydance has just signed a 10-year lease for Bayonne’s 1888 Studios. Paramount is set to occupy more than 285,000 square feet of the planned 58-acre facility, which will have 1.1 million square feet of production space and 23 smart sound stages.

Naito departs Paramount Animation, leaving a legacy as a thoughtful steward of beloved franchises who kept classic properties fresh and relevant.

Major Paramount layoffs begin today with CEO David Ellison seeking to reposition the company and shift financial resources toward what he and his executive team see as growth opportunities. Ellison told the staff about the job cuts on Wednesday. Around 1,000 jobs are expected to be affected.

Paramount Skydance reportedly doesn't intend to pick apart Warner Bros. Discovery if they're able to acquire their competitor.

Paramount has initiated its first major round of layoffs following the company’s merger with Skydance, and the David Ellison regime has cut a number of executives across its television divisions. Paramount’s linear broadcast and cable networks were hit hard,

Layoffs have been expected since the industry-changing merger put CEO David Ellison in charge of the newly formed Paramount, a Skydance Corporation, in August.

"This restructuring marks a pivotal step in shaping the path forward," co-chairs Dana Goldberg and Josh Greenstein say.