Report: 4,500 LA Film, Tv Jobs at Risk in Paramount-Warner Bros. Merger
CVL Economics and the Department of Economic Opportunity said the merger could also put 10,360 job years and $547 million in tax revenue at risk.
- A report released Wednesday by the Los Angeles County Department of Economic Opportunity and L.A. County Film Office estimated that a Paramount Skydance-Warner Bros. Discovery merger could eliminate nearly 4,500 direct film and television jobs over three years.
- Facing combined net interest expenses of $737 million versus $712 million in operating income, the companies must cut costs, prompting significant consolidation of operations to address financial pressures.
- Total economic fallout includes 10,360 job-years at risk, with $4.06 billion in lost business output and $1.26 billion in lost wages for the regional economy.
- Defending the merger, Paramount Skydance claimed it would create a "stronger, more durable" industry, despite a pending antitrust lawsuit filed by California Attorney General Rob Bonta and 11 other states with trial set for March 2027.
- The county is developing a workforce response plan utilizing 18 America's Job Centers of California to assist potentially displaced workers, while court stipulations prevent the companies from closing the transaction before June 1, 2027.
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14 Articles
Paramount’s Purchase of Warner Bros. Could Cost 4,500 TV and Film Production Jobs and Hurt a Damaged Indie Film Biz
A study commissioned by Los Angeles County argues that David Ellison's plans to unite Paramount and Warner Bros. could be an economic calamity
Over 4K LA Film, TV Jobs at Risk in Paramount-Warner Bros. Merger
A proposed merger of Paramount Skydance and Warner Bros. Discovery could put about 4,500 film and television jobs in Los Angeles County at risk over three years and threaten billions of dollars in regional economic activity, according to a final county report released Wednesday. The report from the Los Angeles County Department of Economic Opportunity and L.A. County Film Office estimates a total of 10,360 job-years could be at risk, including d…
Study: Paramount-Warner Bros. Merger Could Mean Mass Job Losses for Hollywood
If Paramount acquires Warner Bros. Discovery it will still mean a loss of thousands of jobs in Hollywood over the next three years. The post Study: Paramount-Warner Bros. Merger Could Mean Mass Job Losses for Hollywood appeared first on Breitbart.
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