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Stock impact report

Paramount's CinemaCon charm offensive gets lukewarm reception [Yahoo! Finance]

Paramount Skydance Corporation - Class B (PSKY) 
Company Research Source: Yahoo! Finance
Paramount Skydance was on a charm offensive at CinemaCon this week, trying to convince theater owners that its megabucks deal to swallow Warner Bros. would be good for the industry. A glitzy promotional film narrated by Tom Cruise ended with the world's most bankable movie star sitting atop the company's water tower, gazing over Hollywood. "The future is Paramount, and the future looks pretty great from here," said Cruise. The firm's chief executive David Ellison, attuned to fears that the $111 billion offer for a rival studio would result in cuts, bounded onto the stage at Caesars Palace to insist it would not crimp production. "I came here today... to look every single one of you in the eye and give you my word. Once we combine with Warner Brothers, we're going to make a minimum of 30 films annually," he told the audience, pledging 45-day theatrical windows before any film is available to stream. "Long live the movies!" The response from theater owners was lukewarm, and Show less Read more
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