Theater Trade Group Cinema United Calls on Paramount and California AG to Settle
Cinemark says written commitments on film output and 45-day theatrical windows would protect theaters as the $111 billion deal faces antitrust scrutiny.
- On Tuesday, Cinemark endorsed the $111 billion Paramount and Warner Bros. Discovery merger, becoming the nation's third largest theater chain to back the deal and calling for an 'expedited resolution' to ongoing antitrust litigation.
- Paramount Skydance CEO David Ellison secured this support by pledging at least 30 films annually with 45-day theatrical windows, committing those promises to written consent decrees that addressed prior industry concerns.
- On Thursday, Cinema United reversed its opposition, urging Paramount CEO David Ellison and California Attorney General Rob Bonta to 'discuss all possible avenues for resolving' the state's lawsuit while requesting 'tangible and enforceable guardrails' protecting theaters.
- Yesterday, Paramount's lawyers filed paperwork seeking a $1.88 billion bond from state attorneys general and the WGA to cover $7 million-a-day ticking fees owed to Warner Bros. shareholders, with cumulative unrecoverable fees reaching $1.3 billion by trial's end.
- The merger faces a March 2, 2027 trial with California Attorney General Rob Bonta dismissing industry support as strategic pressure; Ellison has threatened to pull Paramount out of California by October if settlement negotiations fail.
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The New York LedgerMovie theater group reverses course, urges California AG to settle $110B Paramount-Warner Bros lawsuit
Cinema United President and CEO Michael O'Leary and board Chair Mike Bowers reversed the movie theater trade group's position Tuesday in California's federal antitrust fight over Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery. They urged Attorney General Rob Bonta and Paramount CEO David Ellison to negotiate because they said prolonged uncertainty threatened box-office momentum and the entertainment industry.O’Leary and …
With Cinemark, Now All Three Major Theater Chains Back Paramount-Warner Bros. Discovery Merger
Cinemark, one of the three largest theater chains in the country, has publicly supported the Warner Bros. Discovery merger. The post With Cinemark, Now All Three Major Theater Chains Back Paramount-Warner Bros. Discovery Merger appeared first on Breitbart.
All the major theater chains are now officially begging for the Paramount/Warner Bros. merger
You don’t hear a lot of full-throated endorsements of media consolidation these days, what with the way most actual human beings get an involuntary shudder down their spines at the thought of ever-growing chunks of our entertainment, news, and general cultural infrastructure coming under the sweaty-palmed control of a shrinking number of hands. But that’s just because you, dear reader, are not the CEO of one of the planet’s biggest movie theater…
Cinemark Joins Regal and AMC in Supporting Paramount-Warner Bros. Merger as Movie Theaters’ Opposition Crumbles
Three’s company. Cinemark has now joined Regal and AMC in supporting Paramount’s planned merger with Warner Bros. Discovery, which means that the world’s three largest exhibitors have all given their blessing to a union that other theater owners fear will leave them with fewer movies to screen. In a blow to the state attorneys general who are holding up the deal, in part because they argue it will hurt exhibitors, Cinemark called for “an expedi…
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