Hypothetically California could have done something to prevent the merger. Then they [Paramount] leave California, as threatened, and then complete the merger.
The Federal government is the entity which needs to be the enforcer of antitrust. Otherwise major companies like these WILL pick and and leave the state blocking them. It's a 111 billion deal - this is worth moving states for the parties involved.
Okay. They should have called the bluff. It'd be better if the federal government did this, but that's not the world we live in right now.
Here's the issue: nothing stops them from leaving the state anyway after the deal is made. The concessions lack any weight. California folded potentially for nothing.
There is already a deep recession in the creative industry in LA, film jobs are down by a third since 2022. They’re not negotiating from a position of strength
I'm aware. There's a lot of FUD around this industry and a large corporation leaving wouldn't help.
At the same time, this promise to "support labor" falls flat when they have been actively combatting with it for recent years. Their words ring hollow.
And if we're being realistic: this is mostly Newsom trying to cover his tracks and look "strong" for 2028.
The article is a bit foolish.
Hypothetically California could have done something to prevent the merger. Then they [Paramount] leave California, as threatened, and then complete the merger.
The Federal government is the entity which needs to be the enforcer of antitrust. Otherwise major companies like these WILL pick and and leave the state blocking them. It's a 111 billion deal - this is worth moving states for the parties involved.
Okay. They should have called the bluff. It'd be better if the federal government did this, but that's not the world we live in right now.
Here's the issue: nothing stops them from leaving the state anyway after the deal is made. The concessions lack any weight. California folded potentially for nothing.
There is already a deep recession in the creative industry in LA, film jobs are down by a third since 2022. They’re not negotiating from a position of strength
I'm aware. There's a lot of FUD around this industry and a large corporation leaving wouldn't help.
At the same time, this promise to "support labor" falls flat when they have been actively combatting with it for recent years. Their words ring hollow.
And if we're being realistic: this is mostly Newsom trying to cover his tracks and look "strong" for 2028.