Cinema United reverses stance, urges Paramount antitrust settlement

Key Points:

• Cinema United President Michael O'Leary and board Chair Mike Bowers reversed their stance, urging California Attorney General Rob Bonta and Paramount CEO David Ellison to negotiate a settlement over Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery to protect theaters and moviegoers.
• The trade group, representing 30,000 U.S. movie screens, emphasized that prolonged legal uncertainty threatens box-office momentum and the entertainment industry's recovery, advocating for enforceable safeguards on theatrical releases and film access.
• Attorney General Bonta maintained the merger violates antitrust laws and could lead to job losses, wage cuts, and higher consumer prices, while Paramount and some industry groups argue delaying the deal harms entertainment workers and the industry.
• California Republican Party Chairwoman Corrin Rankin and Republican AG nominee Michael Gates criticized Bonta's lawsuit, urging negotiations and warning that continued litigation could drive jobs out of California.
• Domestic box-office receipts have risen nearly 20% compared to the previous year, with major theater chains supporting an expedited resolution to the dispute.