The situation in California is evidently getting so dire that even the movie studios are planning their exits, and Paramount Studios might already be in the process of leaving.
At one point in time, it would have been laughable to suggest that Paramount would pick up their business and move it to elsewhere. But as high taxes, burdensome regulations and a pending antitrust suit against an $111 billion merger between Paramount and Warner Brothers continue to be an issue in “The Golden State,” it’s now being reported as a real possibility.
TMZ is saying it’s a reality that’s nearing an official announcement.
Paramount CEO David Ellison has previously said that Paramount has “deep roots” in California, and claimed that he didn’t plan to move the company. Things have evidently changed, and many assume it has to do with the current, billion-dollar-battle Paramount is in with California over their takeover of Warner Brothers Discovery.
It’s long been reported that Ellison would pack up and move out if California didn’t back away from the antitrust lawsuit and settle. The state of California may have assumed he was bluffing, but that doesn’t seem to be the case. The Los Angeles Mayor’s Office and the California Attorney General’s Office were informed that Paramount would be announcing their departure from California on September 15.
The only catch? That announcement never came.
So maybe there is some bluffing from both sides, but regardless, the clock is ticking. Ellison has previously said Paramount would, indeed, leave if a settlement wasn’t reached by October 1. This latest announcement that never came could have been the first step out the door for the Paramount CEO.
As for the state of California, a spokesperson for City Hall told Deadline that they are still working feverishly to keep the movie studio in their state:
“Mayor Bass is focused on protecting and fighting for jobs in L.A., including critical jobs in the entertainment industry that have been a vital part of Los Angeles’ economy. She’s been engaged on this issue and will continue to fight to make sure L.A. is home to Hollywood.”
On the flip side, Ellison has made it clear that Georgia, Texas or Tennessee would be a great home to Hollywood too.
Specifically, Nashville has been thrown out there as a potential landing spot for Paramount. “Music City U.S.A.” has been one of the fastest-growing cities in the United States for nearly a decade. It wasn’t long ago that over 100 people were moving to the city every day, and it’s no secret that the healthcare and tech industries – among others – have been embracing Nashville as a business-friendly large city for their operations.
Picking up and moving to Nashville would definitely create some logistical issues in that the acting and production department, but creators like Taylor Sheridan have already proven that you can move out of the Los Angeles area, build up your own studio elsewhere (like in Texas), and have success.
All I know is… Hollywood is already on the ropes. Paramount Studios leaving could be the knock out blow that puts Tinseltown on the mat.
