Paramount Sets California Exit Plans Over Antitrust Battle With Blue States & Stymied $111B WBD Merger
Leaks the past few months out of David Ellison’s inner circle said the CEO would take his Paramount ball and leave California if state Attorneys General didn’t back off on their antitrust suit to stop the $111 billion merger with Warner Bros Discovery. And now it looks like the ball really is in play. After […]
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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