LAS VEGAS (AP) — Following major victories at last month’s Academy Awards including best picture, best actor and best director, Warner Bros. showcased its future film projects to cinema owners.
The established studio presented at Caesar’s Palace in Las Vegas on Tuesday during the yearly CinemaCon convention and industry exhibition. However, the company’s potential purchase by fellow historic studio Paramount has created an atmosphere far from typical business proceedings.
Notable directors Denis Villeneuve and J.J. Abrams were anticipated to appear and promote their forthcoming Warner Bros. projects. Villeneuve’s “Dune: Part Three” is scheduled for December release, while Abrams directs “The Great Beyond,” a science fiction film starring Glen Powell and Jenna Ortega, set for November. Beyond their fall movie releases with the same studio, both directors share strong opposition to the proposed merger. They joined more than 1,000 individuals who signed a public statement posted Monday on BlocktheMerger.com. Convention attendees have also been displaying #blockthemerger pins.
Greg Marcus, leader of Marcus Theaters — the nation’s fourth-largest theater chain operating 78 venues across 17 states — expressed his concerns to The Associated Press on Monday regarding potential impacts on moviegoers and ticket pricing.
“The concentration of power at the studio level has allowed them to raise the cost of going to the movies to the consumer quite significantly,” Marcus said. “Our margins are no better. We’re not making more money. And yet the cost to the consumer has far outpaced inflation.”
Michael O’Leary, president and CEO of the cinema industry trade association, restated his organization’s stance against the merger on Tuesday morning.
“Consolidation results in fewer films being produced for movie theaters,” he said. “We believe this transaction will be harmful to exhibition, consumers and the entire industry.”
O’Leary informed media representatives that regulatory authorities now hold decision-making power.
However, not all movie industry professionals oppose Paramount’s acquisition of Warner Bros. Director James Cameron actually supports the deal. He previously spoke against Netflix potentially purchasing Warner Bros. due to concerns about theatrical releases, but holds different views regarding Paramount ownership.
In comments to the AP last week while promoting the upcoming theater release “Billie Eilish — Hit Me Hard and Soft: The Tour (Live in 3D)” distributed by Paramount, Cameron stated “I’m a supporter of it, I know it’s controversial.”
Cameron collaborated extensively with Paramount Skydance chairman and CEO David Ellison on “Terminator: Dark Fate.” Ellison has committed to expanding the merged Paramount-Warner Bros. film output to approximately 30 theatrical releases annually.
“I know David quite well. And I know that he really cares about movies. And he’s a natural born storyteller and thinks like almost an old school entrepreneurial producer that was a storyteller that loves storytelling and loved putting on spectacular shows,” Cameron said. “He’s the right man for the job to run a major studio, and now it looks like he’s going to have two of them, you know, swept under his leadership, which doesn’t bother me at all.”
