Entertainment giant Paramount on Thursday announced a $6 billion write-down on its TV channels, as the decline of US cable TV deepens with shrinking profits and a shift towards streaming. Paramount, which owns MTV and Nickelodeon, among other channels, pointed to falling profit expectations and subscriber numbers in US cable TV as reasons for the write-down, which amounts to some $6 billion. On Wednesday, Paramount’s rival company Warner Bros Discovery wrote off $9.1 billion on its TV channels, including CNN and Discovery. US cable TV used to be a reliable source of income for Hollywood. Howev…