Regal Cinemas CEO Eduardo Acuna Backs Paramount-Warner Bros. Merger, Says Antitrust Trial ‘Creates More Uncertainty and Distraction’
Regal Cinemas CEO Eduardo Acuna released a statement on Wednesday evening in support of the looming Paramount-Warner Bros. merger. “This year has been an important one for our industry. Attendance is up, younger audiences are coming out in numbers we haven’t seen in years, and the upcoming release schedule looks just as strong,” Acuna wrote. […]
In a significant legal development, a March 2027 antitrust trial concerning the Paramount-Warner Bros. Discovery merger is set to commence, with an associated financial impact of $1.06 billion. Judge Araceli Martínez-Olguín determined the trial will last 12 days, commencing on March 2 and concluding on March 15, with interruptions on March 8 and 15.
The trial, scheduled to commence at 8:30 a.m. PT, will conclude by 1:30 p.m., featuring two 15-minute intermissions. The trial's implementation will trigger a $110 billion deal's 25 cent per share "ticking fee," beginning October 1, which amounts to approximately $650 million per quarter, or roughly $7 million per day, until the deal's closure.
By the time the trial begins, David Ellison will be obligated to pay at least $1 billion in ticking fees. Paramount spokesperson expressed respect for the court's decision, reaffirming their belief in the transaction's lawful and pro-competitive nature, and pledged to defend the transaction vigorously.
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