L.A. Mayor Karen Bass on ongoing dispute over Paramount-WBD merger

LOS ANGELES (KYMA, CBS) - Los Angeles Mayor Karen Bass held a press conference Thursday regarding the ongoing dispute over the proposed merger between Paramount Skydance and Warner Bros. Discovery (WBD).

During the press conference, Mayor Bass, who was joined by labor leaders in the entertainment industry, called on Paramount and California Attorney General Rob Bonta "to come to the table" and reach a settlement.

Last month, 12 state attorneys general, including Arizona and California, and the Writers Guild of America sued to block the merger between Paramount and WBD.

As a result of the lawsuits, Paramount announced they were delaying the merger, with Judge Araceli Martinez-Olguin setting a trial date for March of next year.

Meanwhile, the U.S. Department of Justice, the United Kingdom, Mexico, and other countries approved the merger.

Earlier this week, Paramount requested a $1.88 billion bond from the 12 states to cover their losses over the merger's delay, with Judge Martinez-Olguin setting a hearing on the request for September 24.

"The continued uncertainty is not good for workers, not good for productions, and not good for the future of this industry. Too many productions in LA are now at a standstill, which means Angelenos are out of a job and they're not getting paid," Bass expressed. "As mayor, I cannot stand by while the job security of...thousands of hardworking union members is being put at risk."

The press conference comes after a report, released earlier this week, from the Los Angeles County Department of Economic Opportunity and L.A. County Film Office estimates over 10,300 job-years could be at risk, with 4,500 jobs within the film and television industry being impacted by the merger.

Paramount released a statement disputing the report saying, "L.A. County's own economic report underscores what we have been saying all along: Our industry is in decline, production is down and jobs are being lost, and lost for good if we don't act."

Speaking with CNBC Thursday morning, Attorney General Bonta said while he does consider this a black and white case, "coming to the table has always been on the table...We'd rather solve this in the boardroom instead of the courtroom, but for now we are bringing the case forward."