Karen Bass Urges Paramount’s David Ellison, California AG Rob Bonta to ‘Find Common Ground,’ Reach Settlement on WB Merger Lawsuit
"The continued uncertainty is not good for workers, not good for productions and not good for the future of this industry," the L.A. mayor says during a Thursday press conference The post Karen Bass Urges Paramount’s David Ellison, California AG Rob Bonta to ‘Find Common Ground,’ Reach Settlement on WB Merger Lawsuit appeared first on TheWrap .
Los Angeles Mayor Karen Bass is urging Paramount CEO David Ellison and California Attorney General Rob Bonta to come together and settle a lawsuit seeking to block the merger of Paramount and Warner Bros. Discovery. The lawsuit alleges that the merger could result in the loss of nearly 4,500 jobs in TV and film over the next three years, along with 2,661 indirect jobs and 3,204 induced jobs.
Bass stated that the uncertainty surrounding the merger is harmful to workers, productions, and the entertainment industry as a whole. She emphasized the need for meaningful commitments to keep the companies in Los Angeles and maintain jobs, productions, and investments in the region. Bass' call for a settlement comes after a study found that the merger could have significant negative economic impacts.
In response, Paramount stated that the report highlights the decline of the entertainment industry and their plans to invest $30 billion annually in production. Ellison has threatened to move Paramount's operations out of California if a settlement is not reached. Bonta has called Ellison's threat "blackmail" but stated that he is open to settlement, but only if Paramount offers structural remedies such as divestments.
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