“Paramount has deep roots in Southern California. My vision is to stay true to our roots,” wrote David Ellison in a letter to lawmakers representing the state in February.
What a difference a few months makes. Now the mogul is locked in a protracted legal battle with the attorneys general of California and 11 other states as he attempts to consummate a $111 billion mega-merger with Warner Bros. Discovery. And he’s in a race against time before a ticking fee penalty of $7 million a day kicks in at the start of October if the deal isn’t done.
And each week, it seems, there’s a new leak suggesting the Paramount CEO may be exploring other options to move his company’s headquarters — and taking the idea seriously.
On Monday, it was Puck that kicked off another cycle when reporting that Ellison told staffers in a senior leadership meeting he plans to move the company headquarters out of state if the antitrust suit isn’t settled by Oct. 1, when that penalty fee begins. This leak underscores that urgent timetable and could be seen as both a negotiating tactic and a real consideration to pull up anchor for new shores.
As The Hollywood Reporter earlier reported back in July, Tennessee has been one of the states courting Paramount. Now add, Texas, Georgia or another state to the list. The insinuation is that even if the merger eventually goes through, the two historic Hollywood studios could (theoretically) be moving out of their historic homes.
