Cinema United, a major lobbying group that represents theater owners in the United States and across the globe, has expressed support for California AG Rob Bonta (D) reaching a settlement with Paramount in its acquisition of Warner Bros. Discovery.
\n\nCinema United CEO and President Michael O’Leary said in a statement that the acquisition will do well for theater owners considering Paramount’s pledge to release 30 films per year in movie theaters.
\n\n“For nearly a year, and throughout multiple efforts to acquire the iconic Warner Bros. Studios, Cinema United has remained steadfast in its primary objective to safeguard theatres of all sizes across this great nation and around the world from the harms of legacy studio consolidation,” O’Leary said.
\n\n“The agreement announced yesterday accomplishes many of exhibition’s objectives. The consent decree includes language on increased film production for five years, meaningful theatrical exclusivity and wide distribution, prohibitions on cost increases, and continued access to the catalogs of Paramount and Warner Bros,” he continued. “While no settlement can eliminate all risk from a merger of this size, these conditions will enable our industry to adapt and succeed in a rapidly changing media environment.”
\n\nO’Leary closed with expressed optimism that movie theaters will…
Original source: https://www.breitbart.com/entertainment/
