CBS News employs roughly 1200 people worldwide with a large portion based in the Big Apple.
Sources close to Paramount told The New York Post that moving CBS would give Elison greater leverage against the California Attorney General led coalition of 12 states looking to block the merger.
CBS News employs roughly 1,200 people worldwide with a large portion based in the Big Apple. A massive relocation would no doubt have a major impact on jobs and the city’s media industry.
One media executive familiar with Paramount’s plans said Ellison could potentially move CBS News operations to Atlanta, where CNN is headquartered. The possible relocation is being considered as part of emergency plans if Paramount’s legal fight with state officials continues long past October.
The CBS Broadcast Center in Manhattan could also be sold for billions of dollars, according to a source close to the company.
The potential move comes after Paramount’s board approved a plan to relocate its Hollywood studio operations out of California if Bonta refuses negotiations. People in Paramount believe Bonta is seeking concessions, including a potential spin-off of CNN, which is part of Warner Bros. Discovery. Ellison has so far said no on that proposal.
Paramount remains hopeful that it can reach an agreement with Bonta by Oct. 1. If the merger is delayed beyond that date, Paramount would reportedly face an eye watering $7 million-per-day payment under the terms of its agreement with Warner Bros. Discovery.
The legal battle has already suffered a setback for Ellison after a federal judge scheduled a trial for March 2027 rather than the November date Paramount had hoped for.
Bonta has argued that the merger could increase prices, reduce content and give the combined company a monopoly on media. Paramount has defended the deal, by directing attention to approvals from the Department of Justice and regulators in several foreign countries.
No formal negotiations are currently taking place between Paramount and the attorneys general, per The Post report.
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