Bass Pushes Paramount to Stay Before $7 Million-a-Day Merger Fee Kicks In
Updated
Updated · Variety · Sep 17
Bass Pushes Paramount to Stay Before $7 Million-a-Day Merger Fee Kicks In
3 articles · Updated · Variety · Sep 17
Summary
Oct. 1 is Paramount’s deadline to close its Warner Bros. Discovery deal or start owing WBD shareholders a $7 million-a-day ticking fee, adding urgency as Los Angeles officials try to keep the company in California.
Karen Bass’ office said it is preparing for every scenario after reports from Politico and TMZ suggested Paramount is taking concrete steps toward a possible move.
Bass has already urged Attorney General Rob Bonta to negotiate, but his office says any settlement over the merger lawsuit must include “robust structural remedies” and rejects relocation threats as pressure tactics.
Oct. 14-15 is when a court-supervised settlement conference is set, leaving Paramount’s California future tied to both merger timing and the state’s antitrust demands.
Steve Kang, Bass’ film liaison, said the city’s main leverage is backing stronger production subsidies and a more film-friendly environment rather than intervening directly in the legal fight.