Projections indicate that a Paramount exodus would severely hurt California’s economy to the tune of billions of dollars and tens of thousands of jobs if movie studio head David Ellison made good on his threat to relocate AG Bonta’s lawsuit halts the Warner Bros. acquisition.
\n\nConducted by the Los Angeles County Economic Development Corporation, the study found that California would lose roughly 28,990 to 57,980 full-time jobs statewide across various industries if Paramount relocated to a state like Tennessee, with revenue losses estimated between $10.6 billion and $21.2 billion annually.
\n\n“It should be emphasized that these estimated job losses include direct, indirect and induced jobs, capturing the ripple effects through Paramount’s supply chains in California as well as the economic activity of household spending,” the study said. “Consequently, the job losses pertain to all California industries rather than solely to motion picture and television production.”
\n\nThe study also found that Paramount could potentially create a total of between 1,020 and 2,760 jobs in California across all industries and between $377.7 million and $1.01 billion if it acquired Warner Bros. and followed through on its pledge to release 30 films in theaters per year, per TheWrap:
\n\nThe study comes with several…
Original source: https://www.breitbart.com/entertainment/
