What did Paramount promise Hollywood to secure WBD?– www.cnbc.com
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EXCERPT:
A new movie every 11 days? That’s what Paramount’s David Ellison is promising after clearing a path this week for his company’s acquisition of Warner Bros. Discovery, combining two storied Hollywood studios.
The CEO’s settlement with a group of state attorneys general over antitrust concerns stipulates that the newly minted company will release at least 30 films into theaters in 2027 and 2028 and at least 32 films in 2029, 2030 and 2031.
Currently, the combined entity has 35 films scheduled for release next year, according to data from Rentrak.
But questions remain about what caliber of releases the industry can expect — and what happens after the five-year agreement expires.
“This is much more complicated than simply asking whether 30 movies is enough,” Paul Dergarabedian, head of marketplace trends at Rentrak, told CNBC. “Thirty wide releases would represent a meaningful commitment to theatrical, and I think everyone in exhibition would welcome a robust pipeline of films.
“But ultimately the proof will be in how those movies perform, how varied the slate is, how consistently they reach theaters and how the combined company executes on those commitments,” he said.
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