Cinemark announced its endorsement of the proposed Paramount-Warner Bros. Discovery merger on August 19, completing a unified exhibition front. With Cinemark joining AMC and Regal, every major domestic theater chain now backs the $111 billion deal.
The shift follows specific guarantees from Skydance CEO David Ellison. He has committed the combined studio to releasing at least 30 films annually. "We are committed to delivering a broad pipeline of high-quality storytelling, including 15 theatrical films per year per studio, for a total of at least 30 films annually," Ellison said, according to Variety. The commitment also includes a contractually enforceable 45-day exclusive theatrical window and a 90-day hold before any title moves to streaming.
Ellison pointed to the 2022 release of Top Gun: Maverick, which earned $1.5 billion worldwide, as evidence of the theatrical model's durability. "Large franchises and big pieces of intellectual property are launched in theaters, period," he said.
The deal still faces significant legal obstacles. According to Variety, 12 state attorneys general led by California's Rob Bonta filed suit in July to block the merger under federal antitrust law, and the case is set for trial in March 2027. Ellison has told Paramount executives he will relocate the company's California operations if the deal does not close by September 30, after which the studio begins accruing $7 million in daily fees to WBD shareholders.
Exhibition industry group Cinema United had previously opposed the merger. All three chains aligning behind the deal now fractures that institutional resistance.