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Cinemark has joined AMC Theatres and Regal in supporting Paramount’s proposed acquisition of Warner Bros. Discovery. The theater chains point to commitments involving theatrical releases, exclusive cinema windows and future film investment.
The endorsement comes as the Paramount-Warner Bros. Discovery merger faces an antitrust challenge from 12 states. The companies have postponed closing the deal while the case proceeds in federal court.
Cinemark supports Paramount-Warner merger
Cinemark CEO Sean Gamble has described Paramount and Warner Bros. as longtime partners of the movie theater industry. He said Paramount had made positive statements about film volume and theatrical release windows.
However, Gamble previously called for firm commitments that would protect a sustainable film and exhibition business. Theater owners depend on a consistent supply of new movies to attract customers and fill screens.
Paramount has since strengthened its promises to exhibitors. The company plans to release at least 30 theatrical films annually after completing the merger. That would include about 15 releases from Paramount and 15 from Warner Bros.
The combined studio would also maintain an exclusive theatrical period before making movies available at home. Paramount has pledged a minimum 45-day window before premium digital rentals and purchases.
Those commitments have helped Paramount gain support from the country’s three largest theater chains. Plano-based Cinemark operates nearly 500 theaters across the United States and Latin America.
AMC and Regal also back the deal
AMC Theatres CEO Adam Aron expressed support for the merger during CinemaCon in April. Aron cited Paramount CEO David Ellison’s history in film production and his commitment to making movies for theaters.
Regal CEO Eduardo Acuña later argued that a prolonged antitrust trial could create more uncertainty for the industry. Regal also highlighted Paramount’s promises concerning theatrical films and release windows.
The three chains have a major interest in maintaining a strong theatrical calendar. More wide releases can increase ticket sales while also supporting food, beverage and merchandise revenue.
Paramount’s proposal would combine two major Hollywood studios. The enlarged company would control franchises including “Mission: Impossible,” “Top Gun,” “Harry Potter,” the DC Universe and “SpongeBob SquarePants.”
The transaction values Warner Bros. Discovery at an enterprise value of approximately $110 billion. Under the agreement, Warner Bros. Discovery would become a wholly owned Paramount subsidiary.
Merger continues to face opposition
Support from Cinemark, AMC and Regal does not resolve the deal’s legal challenges. A coalition of state attorneys general sued to block the transaction, arguing that it could reduce competition.
The states contend that combining two major studios may give the company too much power over theatrical distribution, streaming and television programming. The Writers Guild of America has filed a separate challenge.
Paramount rejects those claims. The company argues that the merger would create a stronger competitor against larger streaming and technology companies.
The U.S. Department of Justice closed its investigation after determining that the transaction was unlikely to harm competition. Regulators in several international markets have also cleared the acquisition.
Still, Paramount agreed to delay closing until the state lawsuit is resolved or the merger agreement approaches its June 2027 expiration. The companies maintain that they remain committed to completing the transaction.
For moviegoers, the dispute could influence how many films reach Cinemark, AMC and Regal screens. The court’s decision may also shape theatrical release schedules across the entertainment industry.