Paramount-Warner merger could create 40,000 jobs, report says

A proposed merger between Paramount Global and Warner Bros. Discovery could create thousands of jobs and inject nearly $1 billion annually into Hollywood movie production, a new report from the California Policy Center found.The report looked at Paramount-Skydance CEO David Ellison's pledge to have Paramount Pictures and Warner Bros. each produce 15 movies per year after the merger, for a combined total of 30 films annually.That would be a 50% increase from the studios' combined recent output and a 14% increase in production among the five major Hollywood studios."Our analysis finds that this commitment, if fulfilled, could add almost $1 billion to Hollywood's annual investment in movie production," economist Jeff Ferry wrote in the report. "Paramount-Skydance would account for some 40,000 jobs in production and related industries."The report comes as the film industry continues struggling with lower theater attendance, layoffs, reduced production, and increasing competition from streaming platforms.Productio Source: https://timesnews.net/news/373266/paramount-warner-merger-could-create-40000-jobs-report-says/