00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Paramount CEO David Ellison is pledging to release at least 30 movies annually in theaters
00:08after the company's planned acquisition of Warner Brothers Discovery,
00:11a target that has drawn skepticism across Hollywood, according to the Wall Street Journal.
00:17Paramount and Warner are expected to release a combined 28 films this year
00:21and have 36 scheduled for 2027. Ellison has signed three-year agreements with theater
00:27operators promising at least 30 annual releases. The commitment comes as a coalition of 12 states
00:33and the Writers Guild of America seek to block the merger on antitrust grounds.
00:38Critics note, studio output has declined for decades as production and marketing costs have risen
00:43and DVD revenue has collapsed. Paramount has said planned cost savings will not reduce content
00:49spending. For all things money, visit Benzinga.com.
Comments