NASHVILLE, Tenn. (WTVF) — Tennessee's effort to lure Paramount away from California appears to have hit a major roadblock.
Paramount is expected to keep its major studio operations in California for at least the next five years as part of a settlement clearing the way for its acquisition of Warner Bros. Discovery, according to Deadline.
Deadline reports the agreement calls for Paramount to keep both its historic studio lot on Melrose Avenue in Los Angeles and the Warner Bros. lot in Burbank for five years.
The development comes just months after Tennessee officials made a direct pitch for Paramount Skydance to consider moving to the Volunteer State. In July, NewsChannel 5 obtained a letter from Tennessee Economic and Community Development Commissioner Stuart McWhorter encouraging Paramount CEO David Ellison to consider Tennessee as the company planned its future.
“As you look ahead, I encourage you to consider Tennessee as the home for that future,” McWhorter wrote.
Paramount never publicly indicated it was considering relocating to Tennessee.
The California commitments come as a coalition of 12 state attorneys general agreed to settle a lawsuit challenging the Paramount-Warner Bros. merger. The settlement still needs final approval from a judge.
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