The nation's second-largest theater chain says the proposed merger would strengthen theatrical exhibition rather than weaken it.
Regal Cinemas has joined AMC Theatres in publicly supporting Paramount Skydance's proposed acquisition of Warner Bros. Discovery, arguing the merger would strengthen theatrical exhibition rather than weaken it.
In a statement released Wednesday evening, Regal Cinemas CEO Eduardo Acuna said 2026 has been a turning point for movie theaters, pointing to stronger attendance, younger audiences returning to cinemas, and a release schedule that continues to build momentum.
"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. While there is real momentum, we need a thriving studio system to ensure that the industry has a platform from which to grow," Acuna said.
Regal becomes the second major theater chain in less than a week to publicly support the merger.
After speaking directly with Paramount Skydance CEO David Ellison, Acuna said he believes the company has made meaningful commitments to protecting the theatrical business.
"This is why, after much consideration, we believe it's time for Paramount Skydance's acquisition of Warner Bros. Discovery to move forward," Acuna continued.
According to Acuna, Ellison committed to releasing at least 30 theatrical films annually, maintaining a protected theatrical window of 45 days before premium video-on-demand availability and 90 days before subscription streaming for at least three years, and investing $30 billion annually in media content.
Acuna also warned that prolonging the legal battle could ultimately do more damage to the industry than the merger itself.
"A long fight in court that extends into spring or summer doesn't put more films in theaters, and is not beneficial to studios, filmmakers, the guests who go to the movies, or theater businesses like Regal and the people who work for them," he said. "It just creates more uncertainty and distraction that could be damaging to our industry as we build on our current success."
Regal's endorsement follows a similar public statement from AMC Theatres CEO Adam Aron, who published an opinion piece last week supporting the merger.
With support from the two largest theater chains in the United States, Ellison has secured influential allies as Paramount prepares for its March 2027 antitrust trial against California Attorney General Rob Bonta and a coalition of 11 other state attorneys general seeking to block the proposed $111 billion transaction.
Earlier this week, Judge Araceli Martinez-Olguin ruled that the antitrust trial will span 12 days, beginning March 2 and concluding March 19, 2027. Paramount had sought to move the proceedings to November 2026 in hopes of accelerating a decision, but the attorneys general, joined by the Writers Guild of America, successfully argued for the later trial date.
The timeline carries significant financial consequences for Paramount. Under the merger agreement, the company must pay Warner Bros. Discovery a $7 million daily ticking fee for every day after Oct. 1 that the transaction remains unresolved, increasing pressure to secure a favorable ruling as quickly as possible.
The states' lawsuit, filed July 13, argues that combining Paramount and Warner Bros. Discovery would violate the Clayton Act by reducing competition in wide-release theatrical distribution, top-grossing theatrical releases, and basic cable licensing. The complaint also contends exhibitors and moviegoers could face higher costs and fewer choices if the merger proceeds.
Support from Regal and AMC gives Paramount another argument as the merger heads toward trial. The two largest theater chains in the United States now publicly believe the deal would strengthen theatrical exhibition rather than weaken it.
Regal and AMC's position also places both companies at odds with Cinema United, the exhibition industry's primary trade organization. Cinema United President and CEO Michael O'Leary has remained firmly opposed to the merger.
In a recent letter to members, O'Leary warned that "this transaction will result in fewer movies, higher costs for you and your patrons, and ultimately, fewer theatres. The promises of support for theatrical being made in the media are high-level and unenforceable and as such do nothing to alleviate the harms."
Ellison also addressed criticism surrounding the merger in an opinion essay published Tuesday, arguing that much of the opposition centers on his potential ownership of CNN rather than traditional antitrust concerns.
"I believe this fight is not really about market share," Ellison wrote. "I believe a plainer worry sits beneath the briefs and the news releases: the news. The issue is whether I can be trusted as a steward of Warner's CNN."
He reiterated his commitment to maintaining the network's editorial independence, adding, "When it comes to our news operations, I do not aspire to lead these companies to bend their newsrooms to my views. I believe that news should be based on facts and truth."
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