Theater Owners Oppose Paramount and Warner Bros Merger
Cinema United warned that the Paramount and Warner Bros merger would harm the industry. The group told CinemaCon attendees that the deal reduces film output.
The head of a major cinema trade group has voiced strong opposition to the proposed $110 billion merger between PARAMOUNT GLOBAL-CLASS B and WARNER BROS DISCOVERY INC. Speaking at the CinemaCon convention in Las Vegas, Michael O’Leary, President and CEO of Cinema United, warned that the consolidation would grant excessive power to a single entity, ultimately harming consumers and the broader entertainment industry.
The agreement, reached in March, follows the withdrawal of NETFLIX INC from the bidding process. The deal would combine the historic Warner Bros studio, known for franchises like Harry Potter and Superman, with Paramount Pictures, the studio behind Mission: Impossible and Top Gun.
