Paramount Preps California Exit Amid State AGs’ Warner Bros. Merger Battle
The David Ellison-led media giant has informed AG Rob Bonta and Los Angeles Mayor Karen Bass' offices of the plans The post Paramount Preps California Exit Amid State AGs’ Warner Bros. Merger Battle appeared first on TheWrap .
Paramount is reportedly preparing to leave California amid a legal battle over its $110 billion merger with Warner Bros. Discovery, informing the offices of Los Angeles Mayor Karen Bass and California Attorney General Rob Bonta of its plans. The potential relocation has raised concerns about the economic impact on the state, with estimates suggesting up to $21.2 billion in annual economic output, 57,980 full-time jobs, and $1.17 billion in tax revenues could be lost.
Bass and Bonta's offices have expressed their commitment to protecting jobs in the entertainment industry and will continue to engage in discussions to keep Hollywood in California. Paramount has received interest from other states like Tennessee, Georgia, and Texas, with some officials welcoming the possibility of the company relocating.
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