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David Ellison Threatens to Relocate Paramount as Antitrust Battle Over Warner Bros. Discovery Merger Intensifies

David Ellison is reportedly prepared to take the extraordinary step of relocating Paramount out of California if state officials refuse to negotiate a settlement in the antitrust lawsuit seeking to block the proposed merger between Paramount and Warner Bros. Discovery.

According to sources familiar with the matter, Ellison informed Paramount's senior leadership during a meeting last week that the company will begin preparations to move its operations out of California starting Oct. 1 unless California Attorney General Rob Bonta agrees to enter settlement discussions.

The plan, which sources say has already been approved by the Paramount Skydance board, could eventually include relocating Warner Bros. Discovery operations as well if the merger receives final approval.

Although Paramount declined to comment publicly, reports indicate the company views the potential relocation as part of its broader strategy while defending the merger against legal challenges from a coalition of 12 states seeking to block the transaction on antitrust grounds.

Attorney General Bonta sharply criticized the proposal, describing it as an attempt to pressure California into allowing what his office considers an unlawful merger.

In a statement posted on social media, Bonta said the company was attempting to "blackmail the state" and insisted that legal proceedings would continue regardless of relocation threats.

Bonta has previously stated that any settlement would likely require structural changes to the merger—such as divestitures of certain assets—rather than behavioral commitments like production quotas or operational guarantees.

Financial Pressure Builds

The proposed timeline carries significant financial implications for Paramount.

Beginning Oct. 1, the company is expected to start accruing a contractual "ticking fee" of $7 million per day payable to Warner Bros. Discovery shareholders while the merger remains pending.

With the antitrust trial currently scheduled to begin on March 2, 2027, those daily payments could total roughly $1.2 billion before the case is resolved, although the fees would not become payable unless the transaction ultimately closes.

Potential Multi-Year Relocation

Sources familiar with Ellison's plans say the company's Los Angeles headquarters would likely be the first operations to relocate, with several states—including Georgia, Texas and Tennessee—being evaluated as possible destinations due to their business-friendly tax incentives.

Executives were also reportedly presented with a longer-term strategy that would gradually move much of Paramount's studio workforce out of California over the next five years.

The proposal surprised some senior executives because of its scale and the logistical challenges involved. Industry observers note that relocating thousands of employees could lead to significant staff turnover, particularly as additional job reductions are already expected if the merger proceeds.

Major Industry Restructuring

At the end of 2025, Paramount employed approximately 17,600 people worldwide, while Warner Bros. Discovery had roughly 35,500 employees.

If the merger receives regulatory approval, analysts expect the combined company to eliminate thousands of overlapping positions as part of broader cost-cutting and operational restructuring efforts.

The proposed merger is backed by substantial financing, including a $46.7 billion personal guarantee from Oracle co-founder Larry Ellison, David Ellison's father, along with approximately $24 billion in commitments from sovereign wealth funds based in Saudi Arabia, Qatar and the United Arab Emirates.

Paramount has maintained in regulatory filings that those foreign investors will not hold voting shares or board seats in the merged company, arguing that the financing structure does not require additional U.S. government review.