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Paramount is Ready to Leave California, Sources Say
The studio is weighing a move to pressure regulators as a $7 million daily fee and merger litigation continue to mount, officials said.
- Paramount appeared poised to announce a dramatic exit from California on Tuesday, but the expected statement never arrived, leaving Los Angeles officials unsure whether CEO David Ellison changed course or postponed the announcement.
- Golden State Attorney General Rob Bonta and 11 other state AGs sued to block Paramount's proposed $111 billion merger with Warner Bros Discovery, claiming the deal reduces market competition.
- An L.A. County Economic Development Corporation report warned that a departure could cause the 'permanent loss of approximately 28,990 to 57,980 full-time jobs,' while Paramount faces a $7-million-a-day ticking fee starting October 1.
- Los Angeles Mayor Karen Bass remains focused on protecting local entertainment jobs, with City Hall stating she will 'continue to fight to make sure L.A. is home to Hollywood.'
- Paramount faces a long wait for the March 2, 2027 antitrust trial, with a hearing next week over the company's $1.88 billion bond request, while rumors persist about potential relocations to Texas, Tennessee, or Georgia.
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Paramount May Be Bluffing About Leaving California, But L.A. Mayor Taking It Seriously
Paramount has been threatening to leave California since July, when the state sued to block it from merging with Warner Bros. Discovery. Attorney General Rob Bonta has called it “blackmail” meant to stop him from enforcing antitrust law. But Los Angeles Mayor Karen Bass, for one, is taking the threat seriously and is trying to […]
·Los Angeles, United States
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REPORT: Paramount Readies California Exit After 114 Years in Hollywood – 100PercentFedUp.com – by Isaac
Paramount has reportedly approved a contingency plan to begin moving its headquarters and other operations out of California if its merger fight is not settled.
·Michigan, United States
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Total News Sources23
Leaning Left3Leaning Right11Center6Last UpdatedBias Distribution55% Right
Bias Distribution
- 55% of the sources lean Right
55% Right
15%
C 30%
R 55%
Factuality
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