The channel is still there, but you are technically correct. I don’t know why there is a VMA Award hosted by MTV, when MTV doesn’t play videos anymore.
It’s like if a garage was repurposed into a Chinese buffet, but they did oil changes once a year.
I was under the same impression until I saw ads for the VMAs. It looks like all the press was about Paramount just shutting down some 24-hr music MTV spinoff channels in Europe & Australia last year.
It might as well not.
I think the MTV shut down was of one of their overseas (from America) divisions. Sadly the American one keeps creeping along, half dead & half alive, like a member of Congress.
