Paramount exit could cost California up to $21 billion annually, leaked report says

The short version

• A leaked analysis from the Los Angeles Economic Development Corporation projects California could lose up to 57,980 jobs and $21.2 billion in annual output if Paramount relocates.[The Hollywood Reporter]
• Paramount has threatened to move operations to Georgia, Texas, or Tennessee if state attorneys general continue blocking its mega-merger.[Variety · The Hollywood Reporter]
• The studio confronts an October 1 deadline, after which it owes $7 million daily in ticking fees if the merger remains unresolved.[Variety · The Hollywood Reporter]

Key facts

• A leaked report commissioned by Paramount and authored by the Los Angeles Economic Development Corporation projects losses between 28,990 and 57,980 full-time jobs and $10.6 billion to $21.2 billion in annual output if the company relocates.[Variety · The Hollywood Reporter]
• California Attorney General Rob Bonta leads a coalition of state attorneys general suing to halt the studio's proposed merger on antitrust grounds.[Variety · The Hollywood Reporter]
• Paramount faces an October 1 deadline, after which it must begin paying $7 million per day in ticking fees to Warner Bros. Discovery shareholders if the transaction has not closed.[Variety · The Hollywood Reporter]
• Paramount has weighed relocating operations out of California to Georgia, Tennessee, or Texas.[Variety · The Hollywood Reporter]
• Attorney General Bonta canceled a scheduled settlement meeting on August 24 after alleging that Paramount representatives leaked details of the discussions.[Variety]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Leaked Report Details Fallout if Paramount Follows Through on California Exit ThreatThe Hollywood Reporter metered
• Paramount Leaving California Will Devastate Los Angeles Economy, Leaked Report FindsVariety metered