Media Industry Faces Shakeup Amid Layoffs and New Deals

The media industry is undergoing a significant transformation, with major players navigating changes in their business models, exploring new deals, and facing criticism over layoffs. Paramount, in particular, is in the midst of a "rebuild phase," as the company's leaders, David Ellison and Jeff Shell, described in a recent earnings call.

According to Paramount's fourth-quarter 2025 earnings report, the company's linear TV business saw declines, but its streaming platforms, including Paramount+, showed momentum. The company's leaders avoided discussing their bid to acquire Warner Bros. Discovery, but the move is seen as part of a broader effort to expand Paramount's reach and offerings.

Meanwhile, the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) is sounding the alarm over sweeping layoffs at local TV stations across the country. The union claims that media consolidation is eroding the resources and talent that local communities rely on for trusted news. The layoffs, which have affected stations such as KTLA in Los Angeles, WGN in Chicago, and WPIX in New York, have resulted in the loss of jobs for several union members.

"We are deeply concerned about the impact of these layoffs on the quality of local news and the livelihoods of our members," said a SAG-AFTRA spokesperson. "By laying off journalists across the country, Nexstar is eroding the resources and talent that local communities rely on for trusted news."

In other news, comedian Nate Bargatze's new game show, "The Greatest Average American," premiered on ABC, celebrating the power of being "perfectly average." The show is available to stream on Sling TV, with prices starting at $45.99 per month.

Additionally, a new documentary about Gonzaga University's basketball team, "The Slipper Still Fits," is set to debut on Tubi on March 6. The film explores how head coach Mark Few turned the small college program into a national powerhouse and features interviews with prominent figures such as Steve Kerr and John Stockton.

In executive moves, PMK Entertainment has hired Leah Sparkes as VP of Television, Film, and Premium Content, and Ulisses Rivera as Senior Account Director within its Strategic Communications Group. Sparkes brings over 20 years of experience in entertainment publicity and brand campaigns, while Rivera joins from WME.

As the media industry continues to evolve, it's clear that companies are adapting to changing viewer habits and exploring new models for success. However, the impact of layoffs and consolidation on local communities and the quality of news remains a pressing concern.