Paramount Suspends Major Awards Shows Amid Restructuring Plans

Paramount Global has decided to pause several major events for 2025, including the MTV Europe Music Awards (EMAs), the CMT Music Awards, and the Nickelodeon Kids’ Choice Awards Mexico, amidst a corporate restructuring and an impending merger with Skydance Media. According to an internal memo from Bruce Gillmer, Paramount's Chief Content Officer, the company aims to 'reimagine and optimize' its events strategy, although flagship events like the MTV Video Music Awards will continue as scheduled. The decision comes as part of broader cost-cutting measures, which have included layoffs and the closure of Paramount TV Studios, with the company targeting $500 million in savings. The future of the paused events remains uncertain, with no timeline established for their return or potential reformatting. Paramount's restructuring reflects a significant shift in the entertainment landscape, as companies adapt to changing market conditions. The memo underscores the company's commitment to maintaining 'world-class events' that contribute to pop culture.