David Ellison Promises 30 Films Per Year After $110 Billion Paramount-Warner Bros Merger
David Ellison, head of Paramount Skydance, told movie theater owners Thursday that his company will release at least 30 films per year if regulators approve the planned $110 billion purchase of Warner Bros Discovery. He made the promise at CinemaCon in Las Vegas.
David Ellison made a surprise appearance at CinemaCon on Thursday to calm fears about his company's massive merger plans. The Paramount Skydance chief executive promised theater owners that the proposed $110 billion purchase of Warner Bros Discovery won't reduce the number of movies hitting theaters.
Ellison said he plans to keep Paramount and Warner Bros as separate movie studios and increase their combined output to at least 30 high-quality feature films per year. The promise came during the annual gathering of theater owners in Las Vegas, where studio executives typically pitch upcoming movies.
The merger faces scrutiny from Hollywood stars and industry workers who worry about job cuts and reduced competition. Theater owners have similar concerns, fearing fewer movies could mean lower ticket sales at a time when streaming services already compete for audiences.
Ellison's appearance signals he's working to build support for the deal among key industry players. The merger still needs approval from federal regulators, who will review whether the combined company would hurt competition in the entertainment industry.
Theater owners worry big mergers mean fewer movies, which hurts ticket sales and revenue. With streaming taking viewers away from cinemas, keeping a steady flow of new movies is crucial for theaters to stay profitable.
Federal regulators will review the $110 billion merger proposal. Theater owners and industry groups will likely weigh in during the approval process.
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