California Democratic Attorney General Rob Bonta has filed a lawsuit to block the merger between Paramount and Warner Bros. Discovery — but the move could cost his state $30 billion in economic activity.
Paramount CEO David Ellison is making a bid to purchase Warner Bros. Discovery for $110 billion, drawing the ire of state officials — although the deal was cleared by federal authorities.
Semafor reported on July 13 that “friends and advisers” of Ellison are encouraging him to move the headquarters of Paramount — and much of its “$30 billion in planned spending” — outside of California.
“No decisions have been made, these people said, and the considerations may...
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