Proposed Paramount-Warner Bros. Merger Risks 4,500 LA Film and TV Jobs, Report Warns
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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Fusion between Paramount Skydance and Warner Bros. Discovery would aggravate the Hollywood labor crisis, which has a loss of 52 thousand jobs.A study by CVL Economics, warns that if it is carried out, 4,500 film and television jobs will be lost in Los Angeles County over three years.A decade of employment would be at risk, including 2,661 indirect jobs in small businesses that support production, such as: utility houses, printing presses, transp…
Paramount’s Warner Bros. Takeover Could Cost LA $2.8 Billion, Study Reveals
Los Angeles could lose $2.8 billion and nearly 4,500 film and TV jobs if Paramount’s proposed Warner Bros. Discovery takeover unfolds as projected, according to a new analysis by CVL Economics and the Los Angeles County Department of Economic Opportunity. For Los Angeles, that threat carries particular weight. Hollywood is not just a collection of famous studios and soundstages, but a sprawling ecosystem of crews, vendors, production companies …
The L.A. County Department of Economic Opportunity has issued a document of more than 100 pages with even tougher data on what could stand up if the merger of Paramount Warner Bros Discovery were to materialize.
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