Key facts
- Tennessee is actively seeking to attract Paramount Global's headquarters.
- Paramount CEO David Ellison is reportedly considering relocating the company's headquarters from California.
- The potential relocation is linked to a legal battle over Paramount's proposed merger with Skydance.
- Tennessee's pitch emphasizes fiscal discipline, low taxes, and a supportive business environment.
Tennessee is making a formal bid to become the new home for Paramount Global's corporate headquarters as the media company navigates uncertainty surrounding its proposed merger with Skydance. Deputy Governor Stuart McWhorter sent a letter to Paramount CEO David Ellison, highlighting the state's favorable business climate, fiscal discipline, and low taxes as reasons for the relocation.
Ellison has reportedly considered moving Paramount's headquarters out of California following a lawsuit filed by the state's Attorney General, Rob Bonta, and 11 other attorneys general, which aims to block the $111 billion takeover by Skydance on antitrust grounds. An adviser to Ellison indicated that "everything is on the table" regarding the company's future location.
A departure from California would follow Paramount's recent move from New York to the West Coast last year. The state's pitch emphasizes that Tennessee is a place where "creativity and technology converge" and where government acts as a "partner in private-sector growth."
If the merger were to proceed, Warner Bros. Discovery would also see its operations potentially shift, as the company previously held a complex in Knoxville, Tennessee, before selling it in 2023. The merger's outcome remains uncertain, impacting Warner Bros. Discovery's significant global real estate holdings, including a 2.6 million square foot film and television complex in Burbank, California, and substantial properties in Los Angeles.