Paramount Global is rebranding its premium cable network Showtime as “Paramount+ with Showtime” in the US. The two brands will be integrated in the streaming world and Showtime content will be available on Paramount+’s premium tier. Chris McCarthy will lead the Showtime studio and oversee network operations while Tom Ryan will oversee the Paramount+ with Showtime streaming business. Some shows are being cancelled due to “diverting investment away from underperforming areas.” Bob Bakish said the changes aim to make Paramount+ “the definitive multiplatform brand in the streaming space.” Some layoffs may occur and details will be shared in the coming weeks.
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