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Jeff Shultz, Key Streaming Exec At Paramount Who Arrived With Pluto TV Acquisition, To Exit
The drumbeat of departures from Paramount Global is continuing, with high-level streaming exec Jeff Shultz heading for the exits.
Pluto, founded in 2014 as a trailblazer in free, ad-supported television (FAST), was acquired by Viacom for $340 million in 2019. Paramount, which is reeling from ongoing declines in its linear TV business, is laying off 15% of its U.S.-based workforce, in pursuit of $500 million in cost savings. “Years ago, the vision for Paramount Streaming easily could have been criticized as too daring,” Shultz wrote in the post.
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