Paramount Promises to Release 30 Films a Year After Warner Merger

David Ellison, CEO of Paramount Skydance, is willing to make one of the key promises used to convince the film industry of the benefits of acquiring Warner Bros. Discovery a contractual obligation.

According to information from Variety, Paramount has offered three-year contracts to major U.S. theater chains that would guarantee the release of 30 movies per year in theaters if the acquisition is completed.

The agreements were reportedly offered to AMC Entertainment and Regal Cinemas, two of the largest exhibition chains in the world. In addition to the commitment to release at least 30 films annually, the contracts would stipulate that the titles remain exclusive to theaters for at least 45 days. After that period, the movies would only arrive on streaming after 90 days.

Ellison had already offered this deal, but the difference now is that the promise could be backed by legally binding contracts, rather than just the executive’s public statements. The merger is facing resistance from representatives of the film industry and antitrust authorities, but it was recently approved in the United Kingdom.

Paramount Skydance’s acquisition of Warner Bros. Discovery was announced at US$ 110.9 billion and still depends on regulatory approvals. If completed, it will give the company control of properties such as Harry Potter, DC, Game of Thrones, and HBO, in addition to Warner Bros.’ catalog and film operations.