AI Generated Image
Is Paramount Bluffing About Leaving California?
Variety • • general
Key Points:
- Paramount has threatened to leave California following the state's lawsuit to block its merger with Warner Bros. Discovery, with a deadline of October 1 to close the deal or incur a $7 million daily fee.
- California Attorney General Rob Bonta has labeled Paramount's threat as "blackmail" intended to deter antitrust enforcement but remains open to negotiations requiring strong structural remedies.
- Los Angeles Mayor Karen Bass is taking the relocation threat seriously and has urged Bonta to negotiate a resolution, while her film liaison, Steve Kang, emphasizes creating a film-friendly environment to retain the company.
- A court-supervised settlement conference is scheduled for October 14-15, with Bonta’s office maintaining that Paramount’s decision to stay or leave is ultimately up to the company.
- Paramount has declined to comment on the situation, while local officials continue to encourage dialogue among all parties to prevent the company’s departure.
