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Three Theater Chains Back Paramount-WBD Merger

New York Times Business •
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All three major U.S. theater chains—AMC, Regal, and Cinemark—now back David Ellison's $111 billion merger of Paramount and Warner Bros. Discovery, urging California Attorney General Rob Bonta to settle rather than proceed to a March 2027 trial.

Twelve states sued, arguing the combined studio would control 30 percent of films grossing over $100 million in wide release, reducing competition for theaters. Cinema United, led by Michael O'Leary, initially opposed but reversed course, calling for "good faith" resolution talks.

Ellison pledged the merged studios would operate independently, releasing 30 movies annually with 45-day theatrical windows before PVOD and 90-day windows before SVOD, commitments now offered as written consent decrees. Cinemark's unsigned statement cited strong box office momentum and supported "expedited resolution" to end uncertainty.