Production studios the world over are undergoing significant shake ups and one of the largest, Viacom’s Paramount Pictures, has been violently oscillated by CEO Bob Bakish in recent years, whose plans began to take shape late last week upon news of inking an exclusive new deal with Netflix. The tie up not only marks how the major OTT video services are pulling more and more strings in terms of content, but of the declining value of the mega production studio. While Viacom has a number of dying brands whose future remains uncertain, a budding licensing relationship has been in place with Netflix for a number of years now and this is about to be taken to the next level. It…