Another failure of the Democratic Party: Paramount is leaving California and is considering relocating to Texas

Paramount is preparing to leave California after state Democratic officials on the West Coast refused to withdraw a lawsuit aimed at blocking the company's merger with Warner Bros Discovery

The move is backed by the government of Donald Trump, which approved the merger in June and is defending Paramount in this legal dispute with the Democratic states. In total, there are 11 states governed by the anti-Trump opposition seeking to block the merger in court

In response, Paramount warned that California would either withdraw the lawsuit or it would leave the state. Governor Gavin Newsom's administration did not relent, and the entertainment company informed Los Angeles Mayor Karen Bass today that it plans to leave

The economic damage to California could be incalculable. The Democratic state could lose up to 58,000 jobs and more than $21 billion a year if Paramount departs. Additionally, the overall economic impact could range between $10.6 billion and $21.2 billion annually, while governments would stop collecting between $585 million and $1.17 billion a year in taxes