Paramount CEO David Ellison is reportedly considering moving CBS News out of New York City as his legal battle with the attorneys general from both California and New York continues to gain steam. One reason for the proposed move would be to provide Ellison with some leverage against California Attorney General Rob Bonta, who is leading a coalition of 12 predominately Democrat-run states in an effort to block Paramount’s $110 billion acquisition of Warner Bros. Discovery.
Having CBS News pulled from the Big Apple would create a massive shock wave throughout the realm of news media, especially since reports indicate it would take place alongside Paramount moving its Hollywood studio out of the left-wing cesspool of California if Bonta doesn’t sit down for settlement talks. CBS News currently has 1,200 employees spread across the world, with a large portion of them in New York City.
“The real negotiation is how much he will move out of California and New York of his current operations. If it involves a lot of production, that’s a lot of jobs,” a source said in an interview with The Post. The individual, a media executive who possesses knowledge of Paramount’s intentions, stated that Ellison could potentially move news operations to Atlanta, which is where CNN has its headquarters, in anticipation of winning the legal fight with the attorneys general.
According to a report from the New York Post, another source that is close to the company said the potential moves are “contingency plans” and not a main strategy, with the actions hinging on whether or not some sort of deal or agreement can be worked out with Bonta’s coalition. The broadcast center that houses CBS News could bring in a “couple of billion dollars” for the billionaire Ellison family, should they go ahead with the move.
Sources close to the situation believe Bonta wants a CNN spin-off, a Warner Bros. asset, before any deal is pushed through, but as of now, Ellison is not willing to make that deal. However, insiders at the company say Paramount is still optimistic that they can reach a settlement with Bonta. Ellison has stated that he wants to see the attorney general come to the negotiating table by October 1, 2026.
A federal judge set a March 2027 date for the court battle, which left Paramount disappointed as they had been hoping for a November 2026 trial date in order to get the matter settled quickly. The announcement led to Ellison expressing his thoughts about the situation in an op-ed that was published by The New York Times, in which he promised he would be a “trusted steward” of CNN.
Ellison is looking to gain some leverage in his battle with Bonta and New York Attorney General Letitia James, but as of this writing, it’s not clear how much of the news production operations he is prepared to move out of New York and California. There are no formal talks happening and the two sides in the battle remain at odds with each other over potential concessions.
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Paramount’s optimism comes as pressure increases inside the Democratic Party to keep Ellison happy in order to prevent Hollywood jobs from leaving the state. California Democratic Gov. Gavin Newsom is reportedly worried about Bonta’s lawsuit, warning that if the media merger is blocked, it could hurt Los Angeles jobs.
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