Paramount to Exit California If AG Won’t Negotiate WBD Merger Settlement

Paramount CEO David Ellison told top executives he will start relocating Paramount from California on Oct. 1 if California AG Rob Bonta won’t negotiate a settlement in the antitrust suit tied to the Warner Bros. Discovery merger, a threat linked to a $7 million-per-day ticking fee and a $7 billion breakup penalty; relocation would begin with the HQ and then studio jobs, and would proceed regardless of the trial’s outcome. Ellison has offered to codify concessions in writing and engage in settlement talks as the antitrust case—led by Bonta and 19 other state AGs—heads toward a March 2027 federal trial in California. The merger has been cleared by regulators including the DOJ, while Paramount argues the move could be part of a negotiated settlement framed around concessions and a robust film slate.