The Wall Street Journal reports Paramount has discussed committing one-and-a-half-billion dollars to film and television production in California as part of a potential settlement with Attorney General Rob Bonta over the Warner Bros. Discovery acquisition.
The discussions could also include a commitment to keep Paramount’s historic studio operations in California.
But nothing is signed.
Paramount has reportedly been scouting roughly 400-thousand square feet of office space in Nashville, while Austin has also been considered.
And the threat carries some weight.
An LAEDC analysis estimates a full Paramount departure could ultimately put nearly 60-thousand direct and indirect jobs at risk. So after weeks of Paramount looking at the exits, California may finally be negotiating to keep the studio home.
The question now: Is one-and-a-half-billion dollars enough to unpack the moving boxes?
