Bass Urges Quick Settlement in $111 Billion Paramount-WBD Suit as 1.26 Billion in Wages Is at Risk
Updated
Updated · Hollywood Reporter · Aug 20
Bass Urges Quick Settlement in $111 Billion Paramount-WBD Suit as 1.26 Billion in Wages Is at Risk
3 articles · Updated · Hollywood Reporter · Aug 20
Summary
Karen Bass on Thursday pressed Paramount Skydance and California Attorney General Rob Bonta to quickly settle the antitrust case — or move faster to trial — saying prolonged uncertainty is stalling productions and threatening thousands of union jobs.
1.26 billion dollars in potential lost wages and 2.78 billion dollars in lost economic value were flagged in a new Los Angeles economic report, though that study warned the losses would come if the merger proceeds.
Bass, who had previously opposed the deal unless jobs were protected, said any resolution must include enforceable commitments to keep Paramount and Warner Bros. Discovery jobs, productions and investment in Los Angeles and California.
WGA West rebuked Bass for echoing what it called Paramount's pressure campaign, while other industry groups — including Cinema United, DGA and IATSE — have recently shifted toward urging a settlement before the March trial.
Bonta and 11 other state attorneys general are challenging the merger as illegally concentrating film and TV markets, and Bonta said a settlement would require robust structural remedies.