(Bloomberg) -- Paramount Global General Counsel Christa D’Alimonte is leaving after nearly 12 years with the company, part of the latest round of cost cutting at the TV and film giant.

D’Alimonte is departing as part of a broader streamlining of the organization, the company’s co-chief executives said in an internal message on Tuesday. Her last day will be June 28, with responsibilities shifted on an acting basis to Caryn Groce, who is currently deputy general counsel. D’Alimonte joined Paramount’s predecessor Viacom Inc. as deputy general counsel in 2012, according to her bio. 

“Our work doesn’t often make headlines or get recognized at glitzy award shows, but you are the heart and soul of this company,” she said in a memo to her team. 

Separately, Venu Sports, a streaming joint venture between three other media companies, announced that David Hillman, former general counsel at CBS Sports, would be joining as its chief legal officer.

Paramount, the parent of CBS, MTV and the Paramount Pictures film studio, has been wrestling with declines in viewers of traditional TV channels and ongoing losses in its streaming business. The company’s controlling shareholders, the Redstone family, have been fielding offers for their holdings. Last week, Shari Redstone, Paramount’s board chair, turned down a proposal from independent producer David Ellison that would have merged his company, Skydance Media, with Paramount.

The three co-CEOs are now embarking on a turnaround plan that involves $500 million in cost cuts and the search for a streaming partner, they told investors at the company’s annual meeting on June 4.

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