MORE Indie Invaders / POSTED BY: KINGSOFAR

Rumors of big layoffs at Viacom’s MTV have been circulating for weeks, but reality is setting in. A source claims that 300 people coast to coast will be let go by the end of the week and most of the layoffs will come from the music side of the business – go figure!

MTV’s and Nickelodeons ad revenues have dropped sharply and the company’s profits were down 37 percent in the last quarter.

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