After almost 40 years of reporting on music and world news, the iconic MTV News is shutting down.
Paramount announced on Tuesday that it’s shuttering the long running show due to financial woes.
The show started in 1987 with Kurt Loder hosted “The Week in Rock”. During the ’90s, MTV News also provided an alternative to traditional cable news that appealed to gen Xers.
Chris McCarthy, head of Paramount Media Networks, MTV and Showtime, said that despite the media giant’s “success” in streaming, the company continues to “feel pressure from broader economic headwinds like many of our peers.”
“As a result, we have made the very hard but necessary decision to reduce our domestic team by approximately 25%,” he continued. “Through the elimination of some units and by streamlining others, we will be able to reduce costs and create a more effective approach to our business as we move forward.”
RIP MTV News.