Paramount has been threatening to leave California since July, when the state sued to block it from merging with Warner Bros. Discovery.
\n\nAttorney General Rob Bonta has called it “blackmail” meant to stop him from enforcing antitrust law. But Los Angeles Mayor Karen Bass, for one, is taking the threat seriously and is trying to do whatever she can to persuade the company to stay.
\n\n“We’ve heard the same information that everybody has,” said Steve Kang, the mayor’s film czar, on Wednesday. “We need to be prepared for every option to be available — whether it’s true or not.”
\n\nParamount faces an Oct. 1 deadline to close its transaction or begin accruing a $7-million-a-day “ticking fee” owed to WBD shareholders. In recent days, the noise about a potential relocation has started to pick up with reports in Politico and TMZ that the company is taking affirmative steps toward a move.
\n\nBass has already done most of what she can do, urging Bonta last month to come to the table and reach a deal.
\n\nBonta’s office has repeatedly said that it is open to good faith talks, but has said it will only agree to a resolution that includes “robust structural…
Original source: https://variety.com/