PARAMOUNT Skydance has defended its attempt to buy the legendary Warner Bros studio, in a letter to California’s top lawyer whose office is probing the $110 billion bid, US media reported Tuesday.
The move comes amid growing calls for regulators to block the takeover, with creators in Hollywood fearing the highly leveraged buyout will mean job cuts and a drastically scaled back movie slate, with production going straight to streaming. In a letter addressed to state Attorney General Rob Bonta, Paramount says it is deeply committed to producing films and showing them in cinemas.
“Theatrical runs increase awareness and anticipation through marketing and word-of-mouth, and then help convert that demand into viewing when the title later becomes available (and promoted) on the platform,” reads the letter, sent on 7 May by Paramount’s Chief Legal Officer Makan Delrahim, according to the news site Semafor.
AFP
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