If anyone thought theater owners would lay down their arms and stop fighting if Netflix didn’t prevail in its $82.7 billion bid to buy Warner Bros., think again. Just as concerning, if not more so, is the danger of what happens if David Ellison succeeds in owning two Hollywood legacy studios and merges Paramount with Warner Bros.
That’s why no one at Cinema United, the leading trade org for exhibitors, was hardly jumping for joy on Thursday when, in a stunning turn of events, Netflix walked away from its megadeal after the Warner Bros. Discovery board opened the window just enough for Ellison’s Paramount to climb back in and sweeten its bid to buy all of WBD.
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