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BusinessQuiet 5d · day 10

Paramount’s California exit threat cools as it offers concessions in merger suit

Days before an October 1 deadline, Paramount reportedly offered $1.5B in CA production spending and CNN oversight to settle a 12-state antitrust suit, but New York’s AG is holding out for more.

newest coverage 5d agosummary written 4d ago7 pieces Google NewsMastodonNewswires

What to know

  • Paramount faces an October 1 deadline, after which it must pay Warner Bros. Discovery shareholders a $7 million daily fee if the $110 billion merger isn't resolved.
  • The studio reportedly offered $1.5 billion in California production investment, sale of cable channels, and a CNN editorial oversight board to settle the 12-state antitrust suit.
  • New York AG Letitia James split from the coalition on September 20 by demanding further concessions, even as California's Bonta had reportedly softened his position.
  • Texas, Tennessee, Georgia, and Nashville office space have all been floated as relocation options, though Paramount has not formally announced any move.

“blackmail”

Rob Bonta, California Attorney General · Variety, cited by Daily Wire ↗ · Sep 19

David Ellison Paramount Skydance CEORob BontaRob Bonta California Attorney GeneralLetitia JamesLetitia James New York Attorney GeneralKaren BassKaren Bass Los Angeles MayorMark RuffaloMark Ruffalo Actor, 'Block the Merger Coalition' memberGavin NewsomGavin Newsom California Governor

Paramount’s California exit threat cools as it offers concessions in merger suit
Daily Wire

How it unfolded 4 developments, newest first · click a bar or a number to jump articlesposts

Peak 1 piece in 3h at Sep 16, 4 PM; 7 pieces over 10 days (6 articles · 1 post) Sep 16, 4 PM — 1 piece · 1 article — Google News 1Sep 16, 7 PM — quietSep 16, 10 PM — quietSep 17, 1 AM — quietSep 17, 4 AM — quietSep 17, 7 AM — 1 piece · 1 article — Google News 1Sep 17, 10 AM — quietSep 17, 1 PM — quietSep 17, 4 PM — 1 piece · 1 article — Google News 1Sep 17, 7 PM — quietSep 17, 10 PM — quietSep 18, 1 AM — quietSep 18, 4 AM — quietSep 18, 7 AM — quietSep 18, 10 AM — quietSep 18, 1 PM — quietSep 18, 4 PM — quietSep 18, 7 PM — quietSep 18, 10 PM — quietSep 19, 1 AM — quietSep 19, 4 AM — quietSep 19, 7 AM — quietSep 19, 10 AM — quietSep 19, 1 PM — quietSep 19, 4 PM — quietSep 19, 7 PM — 1 piece · 1 article — Google News 1Sep 19, 10 PM — quietSep 20, 1 AM — quietSep 20, 4 AM — quietSep 20, 7 AM — quietSep 20, 10 AM — quietSep 20, 1 PM — quietSep 20, 4 PM — 1 piece · 1 post — Mastodon 1Sep 20, 7 PM — quietSep 20, 10 PM — quietSep 21, 1 AM — 1 piece · 1 article — Newswires 1Sep 21, 4 AM — quietSep 21, 7 AM — quietSep 21, 10 AM — 1 piece · 1 article — Newswires 1Sep 21, 1 PM — quietSep 21, 4 PM — quietSep 21, 7 PM — quietSep 21, 10 PM — quietSep 22, 1 AM — quietSep 22, 4 AM — quietSep 22, 7 AM — quietSep 22, 10 AM — quietSep 22, 1 PM — quietSep 22, 4 PM — quietSep 22, 7 PM — quietSep 22, 10 PM — quietSep 23, 1 AM — quietSep 23, 4 AM — quietSep 23, 7 AM — quietSep 23, 10 AM — quietSep 23, 1 PM — quietSep 23, 4 PM — quietSep 23, 7 PM — quietSep 23, 10 PM — quietSep 24, 1 AM — quietSep 24, 4 AM — quietSep 24, 7 AM — quietSep 24, 10 AM — quietSep 24, 1 PM — quietSep 24, 4 PM — quietSep 24, 7 PM — quietSep 24, 10 PM — quietYesterday, 1 AM — quietYesterday, 4 AM — quietYesterday, 7 AM — quietYesterday, 10 AM — quietYesterday, 1 PM — quietYesterday, 4 PM — quietYesterday, 7 PM — quietYesterday, 10 PM — quietToday, 1 AM — quietToday, 4 AM — quietToday, 7 AM — quietToday, 10 AM — quietToday, 1 PM — quiet 1–234
Sep 17Sep 18Sep 19Sep 20Sep 21Sep 22Sep 23Sep 24yesterdaynow · 2:27 PM ET
  1. 4

    Mark Ruffalo urges Bonta not to 'cave' to Paramount

    Actor Mark Ruffalo, aligned with the 'Block the Merger Coalition' and separately feuding with Paramount over antisemitism remarks, posted statements pressuring Bonta and called for supporters to protest outside his office.

    “cave…”
    — Mark Ruffalo
  2. background

    NY AG Letitia James splits coalition by demanding more concessions — After Attorney General Rob Bonta reportedly softened his stance under pressure from Mayor Bass and Governor Newsom, New York AG Letitia James broke from the 12-state alliance to demand further concessions from Paramount, stalling a deal.

  3. background

    Paramount offers concessions to blue-state coalition, WSJ reports — The Wall Street Journal reported Paramount offered a $1.5 billion California production investment, sale of several cable channels, a CNN editorial-independence oversight board, and penalties for failing to make 30 movies a year, in a bid to end the antitrust suit over its merger with Warner Bros. Discovery.

  4. 3

    Analysts assess why Paramount's relocation threat matters for Hollywood

    Fox Business examined the stakes of Paramount potentially leaving California, framing it against a broader trend of productions and companies departing the state.

    1. 1 outlet first by Fox Business, 6d ago · read ↗

  5. 2 days quiet
  6. 1

    Coverage weighs whether Paramount will actually move to Texas

    Yahoo laid out what was known about a possible relocation to Texas amid the ongoing California legal battle, noting Texas, Georgia and Tennessee had all been floated as destinations.

    1. 1 outlet Will Paramount relocate to Texas? What we know amid California legal battle

      first by Yahoo, 8d ago

  7. 2

    Reports say Paramount poised to leave California

    TMZ and Variety reported that, per LA Mayor's office and CA AG sources, Paramount appeared set to relocate, with Mayor Karen Bass reportedly taking the threat seriously even as some viewed it as a bluff.

    1. 2 outlets first by The Daily Wire, 5d ago · also Daily Wire · read ↗

    2. 1 outlet first by TMZ, 9d ago · read ↗

    1 more claim →
  8. background

    Officials briefed that Paramount would announce leaving California — Sources told TMZ that the LA Mayor's Office and California Attorney General's Office were informed Paramount would announce a departure, but the announcement did not happen as expected, leaving officials uncertain if plans changed or were delayed.