Brent Lang

California's film and television tax credits generated $4.3 billion in economic activity and bolstered 22,300 jobs, according to a study released by the Southern California Association of Governments.

But an exodus of films with massive budgets to production hotspots such as the United Kingdom and Canada that offer more generous subsidies was acutely felt in the Golden State. It cost California an estimated $410 million in state and local tax revenues. It also meant sacrificing 47,600 jobs and $9.6 billion in economic output, the study's author’s claim.

“You cannot look at this program and not see it as a formidable economic and fiscal benefit,” Hasan Ikhrata, SCAG Executive Director, said in a statement. “California is very much at risk of losing its film industry, and without this program the past five years, the losses would have been even more painful.”

Armistice has been declared in a $1 billion lawsuit, with Google and Viacom announcing that they have resolved a copyright infringement legal battle that stretched seven years.

Their dispute dates back to Google's $1.65 billion acquisition of YouTube. Shortly after a deal closed, Viacom accused the online video platform in 2007 of violating its copyright by hosting clips from its movies and television programming such as “SpongeBob SquarePants” and “The Daily Show” without its permission. It sued the company for $1 billion.

Terms of the settlement were not disclosed, but the resolution did not involve the exchange of any money, according to an individual with knowledge of the situation. The primary focus was on working together more collaboratively moving forward, the individual said. The two sides were scheduled to appear in appellate court.