Movie theater owners have become embroiled in the kind of drama they usually sell on the big screen, thanks to the ongoing saga of Paramount’s proposed takeover of Warner Bros. Discovery.
Cinema United, the exhibition industry’s main lobbying group, for months has been publicly opposed to any potential sale of Warner Bros. The trade organization’s president, Michael O’Leary, is concerned a merger will lead to fewer films and potential theater closures. He now has another problem: The group’s two most powerful members, AMC Theatres and Regal Cinemas, are contradicting that message.
In a major blow to the org’s solidarity, the CEOs of the two largest theater chains, AMC’s Adam Aron and Regal’s Eduardo Acuna, are throwing their support behind the $111 billion deal. Insiders note that O’Leary, who became president and CEO of Cinema United in 2023, was appointed in part because he was viewed as less fiery than his predecessor, John Fithian, an outspoken advocate for theater owners. With O’Leary now out of step with his two biggest members, Cinema United’s smaller exhibitors worry about how the internal fracture might jeopardize their future bargaining power, should the pact knock out another major supplier.
