David Ellison confirms Paramount Pictures will stay in Hollywood lot

David Ellison, co‑chairman of Paramount Pictures, said on Tuesday that the studio will stay at its historic Hollywood lot, reversing earlier comments that it might move if California’s lawsuit over the property proceeds. The statement came after weeks of speculation that the company could relocate its headquarters from the century‑old site that has housed Paramount since 1914. Ellison told reporters he “loves L.A.” and that the studio’s future remains in the city.

The lawsuit was filed last month by the California Attorney General’s office, which claims Paramount violated a state law that gives the state a right of first refusal on historic real‑estate deals. The state argues the sale of the Paramount lot to a private buyer could trigger a mass exodus of film jobs and erode the state’s standing as the nation’s entertainment hub. The move comes as California battles other states offering larger tax credits to lure productions. Industry leaders have warned that a relocation would hurt thousands of workers and local businesses that depend on the studio’s presence.

Ellison’s reversal was welcomed by Los Angeles officials and labor unions, who said the decision protects jobs and preserves a cultural landmark. The city mayor’s office issued a statement praising the studio’s commitment to the community. While the lawsuit will continue, Paramount has said it will not pursue a relocation plan. The case now focuses on whether the state can enforce its right of first refusal and on broader negotiations over film‑industry incentives. The outcome could shape how Hollywood balances historic preservation with the economic pressures of a competitive global market.