Paramount Skydance is exploring options to leave Hollywood after company CEO David Ellison dropped hints amid an antitrust lawsuit.
Ellison’s threat to relocate Paramount out of California comes amid an antitrust lawsuit filed by 12 states that sought to block the merger between Paramount and Warner Bros. Discovery.
Ellison hinted at relocating Paramount from California last week in a company’s senior executives’ meeting if the deal doesn’t reach by September 30.
The main bone of contention to close the deal is reportedly the antitrust case, per Variety.
Ellison revealed that the Skydance Paramount has approved the move of exiting Hollywood; only if Bonta does not agree to reach an amicable resolution in the case by then will Paramount start the process of moving out of California starting October 1, the outlet reported.
Now after Ellison’s remarks, company’s Chief Legal Officer Makan Delrahim, speaks out on the move.
“His intent is to be committed to California,” said Delrahim while appearing at a summit in Sacramento, hosted by POLITICO titled “The California Agenda: Sacramento Summit.
“There is a point at which you have a fiduciary duty to shareholders,” observed Delrahim.
“You have to take a look at the business environment and look to see what’s best for not only the community and the business. And ultimately, you know, go to the place where you’re wanted,” Delrahim warned, hinting at the company’s possible exit.
The lawsuit in question was filed by Bonta and 11 other state attorneys general in July, is set to head to trial in March, next year.
2026-08-12 11:51:00
