Report: Paramount Exit Would Cost California 57K Jobs — SkimNews
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- Los Angeles Economic Development Corporation report, obtained by Politico, estimates that relocating Paramount would cost California 2,750–5,550 job-years and between $1.01 billion and $2.03 billion in economic output between Oct. 1, 2026 and Sept. 30, 2031 alone.
- Once a full relocation is complete, the report projects permanent statewide losses of 28,990–57,980 full-time jobs across all industries and $10.6–$21.2 billion in annual economic output.
- David Ellison is threatening to move Paramount Skydance out of California unless Attorney General Rob Bonta and a coalition of state AGs settle their lawsuit blocking the $111 billion merger with Warner Bros. Discovery, with Georgia, Texas, and Tennessee under consideration as destinations.
- Starting Oct. 1, Paramount Skydance owes a $7 million-per-day "ticking fee" to WBD shareholders until the deal closes, with trial scheduled for March 2 — putting roughly $1.3 billion on the line absent a settlement.
- Bonta canceled a scheduled Aug. 24 settlement meeting after accusing the Paramount camp of leaking discussion details; he has refused to return to talks until they stop what he called "lying leaks," a charge Paramount denies.
Why it matters: California faces a potential permanent hemorrhage of up to 57,980 jobs and $21.2 billion in annual output if Paramount follows through, while Ellison burns roughly $7 million a day in ticking fees until either a settlement or the March 2 trial — putting Bonta's office in the position of either dropping opposition or absorbing blame for driving a major employer out of state.
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