2 hrs ago
Paramount-Warner Bros Merger Sets New U.S. Film Requirements
Paramount and Warner Bros.
have reached a merger agreement.
The new combined company will have to spend more money making films and television shows in the United States.
The extra spending will be $300 million each year.
This requirement will last for five years.
Altogether, that equals $1.5 billion.
The company must also release at least 30 movies in U.S. theaters each year for two years.
After that, it must release at least 32 movies each year for three years.
The agreement also raises questions about what could happen to CNN amid a feud involving Trump.
The merger agreement requires the combined company to spend an additional $300 million annually on U.S. film and television production.
The extra production spending will continue for five years, totaling $1.5 billion.
The combined company must release at least 30 films annually in U.S. theaters during the first two years.
It must release at least 32 films annually in U.S. theaters during the following three years.
The agreement comes amid questions about CNN and a reported feud involving Trump.
- Who
- Paramount and Warner Bros., through their proposed combined company.
- What
- A merger agreement containing requirements for U.S. production spending and theatrical film releases.
- Where
- The United States, including U.S. film and television production and theaters.
- When
- The agreement sets obligations lasting five years, with film-release requirements divided between the first two years and following three years.
- Why
Key facts
- Additional annual production spending
- $300 million
- Total additional spending
- $1.5 billion over five years
- Production spending period
- Five years
- Initial annual theater releases
- At least 30 films during each of the first two years
- Later annual theater releases
- At least 32 films during each of the following three years
- Other issue raised
- Questions about CNN amid a feud involving Trump
Sources
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