Market Chatter: Movie Theater Group Tells EU Regulators That Warner Bros. Bids Threaten Sector

MT Newswires Live01-16

A group representing major movie theaters has told EU competition regulators that a takeover of Warner Bros. Discovery (WBD) by Netflix (NFLX) or Paramount Skydance (PSKY) may be a threat to their industry, Bloomberg reported Friday.

The report said the group, which represents theaters like AMC Entertainment (AMC), Kinepolis, and Cineworld, told EU officials in a meeting in Brussels that the deal may hamper the release of blockbuster movies.

UNIC's Chief Executive Laura Houlgatte told Bloomberg that theaters oppose "any deal that would lead to a loss of a significant proportion of future titles."

Houlgatte said that the planned deal would be a threat to the period after a film's cinema release when it can only be shown in theaters, before it goes to streaming companies, according to the report.

The European Commission declined to comment in reply to a request from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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