Theater Owners Ramp Up Opposition to $45 Billion Paramount-Warner Bros. Merger at CinemaCon

**TL;DR:** Theater owners are escalating their opposition to Paramount's $45 billion Warner Bros. acquisition at CinemaCon, warning the merger would give the combined company unchecked power over film production and distribution.

CinemaCon, the annual movie theater industry convention, is underway this week in Las Vegas. The gathering has become a battleground as theater owners intensify their fight against Paramount's proposed acquisition of Warner Bros., a deal valued at $45 billion when it was announced in June 2025.

The President of the National Association of Theater Owners issued a stark warning on Tuesday. The merger must face serious scrutiny, she argued, because the combined company would exert excessive control over film production and distribution. Her remarks drew loud applause from theater executives gathered at the convention.

The deal would bring together two of Hollywood's largest studios. Paramount owns Star Trek and Mission: Impossible. Warner Bros. controls Batman and Harry Potter. Industry analysts estimate the merged entity would command roughly 30% of the domestic box office.

The Federal Trade Commission is reviewing the merger and is expected to issue a decision in the coming months. Theater owners are pushing for strict conditions or a complete block.

**What it means:** The outcome will shape the future of theatrical exhibition. A merged studio could dictate terms to theaters on release windows, pricing, and which films get screen space. Watch for the FTC's ruling in the next quarter.