Suppose Larry O' does move Paramount/WB (and presumably CBS) ... the studio facilities will remain and be snapped up just as CBS took over Republic studios and then another company took over after that.
A lot of studio facilities have become largely rental offices of sound stages, props, and such that are used by other companies.
And the important part - the creative people - they won't move to Jesus-land, women-are-property, racist, book-banning locations.