Cinemark Backs Paramount-WBD Merger With Output Guarantees
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- Cinemark endorsed the Paramount-Warner Bros. Discovery merger, citing the need for a healthy theatrical ecosystem and expressing support for written commitments to maintain film output and 45-day theatrical windows
- Paramount Skydance CEO David Ellison pledged to release at least 30 films annually with minimum 45-day theatrical runs, a condition Cinemark, AMC, and Regal view as critical to supporting the exhibition industry
- Cinema United, the exhibition industry’s main lobbying group, opposes any sale of Warner Bros., warning it could reduce film output and trigger theater closures, echoing concerns from the Disney-Fox merger aftermath
- AMC Theatres and Regal Cinemas have previously backed the merger, with AMC’s Adam Aron supporting it since April and Regal’s Eduardo Acuna warning that delays could harm the industry’s post-pandemic recovery
- Cinema United called for state attorneys general and Paramount to meet on settlement discussions, signaling openness to negotiations despite opposition to consolidation, after Cinemark’s endorsement
- Cinemark noted the divide between its position and Cinema United’s stance but said it is 'highly encouraged' by ongoing talks between Paramount Skydance and the trade group
- David Ellison threatened to move Paramount out of California by October if states refuse to negotiate, as the merger faces a 12-state antitrust lawsuit and a potential 2027 trial
Why it matters: The three largest U.S. theater chains now back the merger, aligning around guaranteed film volume and theatrical exclusivity—key levers for box office stability—while the exhibitors’ main trade group resists, fearing reduced competition. This split highlights a strategic rift: operators want predictable content flow more than structural safeguards, even as past consolidation shrank studio output.
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