LightShed partner Rich Greenfield analyzes the Paramount Skydance-Warner Bros deal on The Claman Countdown.
Los Angeles County has voted to approve a proposed merger between Paramount Skydance and Warner Bros. Discovery and its impact on the entertainment industry.
The Los Angeles County Board of Supervisors approved a proposal Tuesday for the Department of Economic Opportunity (DEO) to conduct a “comprehensive economic impact analysis” on the direct and indirect impact the merger could have on employment in the county.
“Entertainment is more than what we watch on the screen—it’s part of who we are as Angelenos and the foundation of our economy. Thousands of families rely on this industry for their livelihoods, and we must protect their jobs and our signature industry,” said Supervisor Lindsey P. Horvath in a statement.
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The Los Angeles County Board of Supervisors released a proposal to review a possible merger Tuesday. (Mario Tama/Getty Images)
He continued, “As the proposed merger moves forward, we need a clear understanding of its impacts on jobs, competitions, and the future of storytelling. Today, we have taken action to support workers, strengthen our local economy, and keep Los Angeles at the center of the global entertainment industry.”
According to Horvath, who proposed the proposal, the DEO will “develop operational strategies, including job training and placement programs, to support and retain workers in the entertainment industry” and report to the Los Angeles board in 60 days with a final report required in 120 days.
Los Angeles County Counsel will then submit a final report to the Department of Justice regarding potential antitrust issues.
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Paramount successfully launched a bid against Netflix to acquire Warner Bros. Discovery in February. (Photos by AaronP/Bauer-Griffin/GC)
Actress Jane Fonda, who heads the First Amendment Committee, supported the proposal to “fight back” the entertainment industry.
“Los Angeles runs on the creativity and hard work of the people behind our entertainment industry. As this acquisition continues, we need to make sure that the workers and storytellers are not left behind. I thank Supervisor Lindsey Horvath for standing up for our industry and the people who use it every day,” said Fonda.
Fox News Digital has reached out to Paramount for comment.
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Critics have expressed concern about Paramount CEO David Ellison’s possible takeover of Warner Bros. Discovery. (Alberto E. Rodriguez/Getty Images for CinemaCon)
Paramount won the ongoing bidding war to buy Warner Bros. Discovery in February, although the merger is not yet complete.
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Critics of the proposal have expressed concern that the merger of the two prized studios under one company could lead to mass layoffs in the entertainment industry. Others expressed fears about Paramount CEO David Ellison, who has friendly relations with President Donald Trump, who controls CNN.
