According to reports, Paramount Global may close its offices in Africa, potentially shuttering local channels and affecting employee roles.
The company is prioritising investments in its expanding streaming business and global content while responding to changing audience behaviours and the current economic landscape. This review assesses their international pay TV strategy and explores potential realignment of their linear channel offerings across various global markets, focusing on cable brands. Management has emphasised concentrating on business sectors and regions that present the greatest opportunities for revenue growth.
This development comes as Paramount awaits FCC approval for Skydance Media’s acquisition. Sources indicate that Paramount has fewer than 100 employees across its offices in Johannesburg, South Africa, and Lagos, Nigeria.
In a memo to staff, co-general managers of Paramount Africa, Monde Twala and Craig Paterson, stated, “We are navigating significant disruption within the industry. Our team is not immune to possible changes as we reassess our pay TV strategy and local channel presence in Africa.”
Earlier this year, Paramount announced workforce reductions in the U.S. totalling 3.5 per cent, following a previous cut of 15 per cent the year before. As of late 2024, Paramount Global had about 18,600 employees worldwide. Co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins indicated that while focusing on the U.S. workforce, some overseas employees may face impacts over time.
In their memo, Twala and Paterson stated, “Today was exceptionally challenging. We want you to know we see your greatness. It is with a heavy heart that we reach out, yet we feel immense pride in your commitment to excellence and creativity, which have been vital to our successes.”
They acknowledged the difficult weeks ahead and reassured staff that their contributions were deeply appreciated.
