Paramount’s president and chief executive of international markets, Pam Kaufman has shut down talks that the American media giant is planning to Close Network 10.
Speaking to The Sydney Morning Herald, Kaufman said “‘Of course not. Not only are we not shutting down, but we are excited, and we’re investing.”
‘This is a market where our strategy is strong, and it’s really working.’
Paramount Global paid $250 million for Network 10 just five years ago.
According to reports, The Australian reported that Paramount Global is hoping to shift the network within the next two years.
The speculation came after Paramount reportedly sacked a number of local executives including its head of streaming.
The Australian Financial Review said that the redundancies were part of a global restructuring, and Paramount’s desire to take a more global view when it comes to streaming content.
Just this morning, Paramount ANZ announced a new sales structure including two new divisions under chief sales officer Rod Prosser. This followed the departure of Lisa Squillace, who was previously the national sales director.
