Paramount’s Threat to Leave California Is a Page Out of Larry Ellison’s Playbook — and It Usually Works
Pressure mounts on California Attorney General Rob Bonta as Paramount indicates it's ready to pack up The post Paramount’s Threat to Leave California Is a Page Out of Larry Ellison’s Playbook — and It Usually Works appeared first on TheWrap .
Paramount CEO David Ellison has threatened to leave California, citing a potential $7 million daily fee starting October 1. This move is reminiscent of his father Larry Ellison's tactics, who is known for aggressive negotiating. The threat has the potential to devastate the state's economy, with Paramount accounting for as many as 58,000 jobs and $21.2 billion in yearly economic output.
California officials, including Governor Gavin Newsom and Mayor Karen Bass, have pushed for a resolution, but Attorney General Rob Bonta and 11 other state attorneys general oppose the merger without concessions. This situation mirrors a previous dispute between Larry Ellison and San Francisco in 2010, where Ellison threatened to relocate the America's Cup competition, ultimately winning the city's agreement despite his initial demands for extensive waterfront property rights.
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