Tennessee tries to poach Paramount Skydance from California amid $110B merger fight
A Republican-led state is making an aggressive pitch to lure Paramount Skydance out of California as the entertainment giant battles a lawsuit from the Golden State and 11 other Democratic-led states seeking to block its proposed $110 billion merger with Warner Bros.Discovery.Tennessee Deputy Gov.
and Economic and Community Development Commissioner Stuart McWhorter wrote to Paramount Skydance CEO David Ellison on July 2, urging him to consider relocating the company’s headquarters to the Volunteer State.“Few leaders have the opportunity to redefine an iconic company while simultaneously shaping the future of an industry,” McWhorter wrote in the letter.“As you look ahead, I encourage you to consider Tennessee as the home for that future.”The invitation comes as Paramount weighs its long-term future amid an increasingly hostile legal and political battle in California, where Attorney General Rob Bonta and attorneys general from 11 other states filed an antitrust lawsuit Monday seeking to block the merger, arguing it would reduce competition in the entertainment industry. A hearing on the states’ request for a temporary restraining order is scheduled for Friday.
The attorneys general have also asked the court to issue a ruling by July 22.McWhorter touted Tennessee’s low taxes, predictable government and business-friendly policies, arguing companies relocating to the state find “more than a favorable business climate—they find a state committed to helping them succeed.”The deputy governor also promoted Tennessee’s growing technology and entertainment sectors, saying the state is home to a deep workforce ranging from software engineers and technology professionals to musicians, entertainers and storytellers.“Nashville’s creative heritage is unmatched, but our state’s talent extends far beyond Music City,” he wrote, adding that Tennessee is cultivating leaders in entertainment, digital content, artificial intelligence and advanced technolo...