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Stock impact report

Theater group says Paramount, Warner Bros merger 'harmful' to industry [Yahoo! Finance]

Warner Bros. Discovery, Inc. - Series A (WBD) 
Company Research Source: Yahoo! Finance
power in one company and cause harm to ?consumers and the industry, the head of a cinema trade group said on Tuesday ?at the largest convention of movie theater owners. Warner Bros Discovery agreed in March to be acquired by David Ellison's ?Paramount Skydance in a $110 billion deal after rival Netflix dropped out of the bidding. Theater owners oppose the combination of the storied Warner Bros movie studio, maker of the "Harry Potter" and "Superman" films, with Paramount Pictures, arguing it will reduce competition and result in fewer movies in cinemas. "We believe this transaction ?will be harmful to exhibition, consumers ?and the entire entertainment ecosystem," Cinema United President and CEO Michael O'Leary told thousands of attendees at the CinemaCon convention in Las Vegas. Paramount , the studio ?behind such entertainment franchises as "Mission: Impossible," "Star Trek" and "Top Gun," is scheduled to present its upcoming movies at CinemaCon on Thursday. Ellison has vowed Show less Read more
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