🚨 JUST IN: Paramount is reportedly in advanced discussions to establish a new headquarters and major studio operation in Austin, Texas, as David Ellison weighs pulling the company out of California. The company is zeroing in on Austin’s Bluebonnet Business Center, including a 415,000-square-foot facility that could be converted for offices and soundstages. No final commitment has been made. The move comes as Paramount battles California AG Rob Bonta over its proposed Warner Bros. Discovery acquisition. Ellison has reportedly threatened to begin moving operations out of California if the dispute is not on a path toward settlement by October 1. A Hollywood institution potentially shifting its headquarters and production infrastructure from California to Texas would be one of the most consequential corporate migrations yet. ⁠