AMC Entertainment CEO Adam Aron anticipates that Paramount will ramp up its launch slate underneath new possession after the corporate’s sale to Skydance Media closed final week.
“We’ve had an excellent relationship with Paramount throughout many generations of management,” Aron mentioned on a a convention name after the giant theater chain’s second quarter earnings. “I’d particularly prefer to thank [former studio chief] Brian Robbins and his government workforce. They’ve been excellent companions for AMC over the course of the final a few years.
“At the identical time, although, we’re excited by Skydance‘s acquisition of Paramount, as a result of Paramount has been money hampered in recent times, which has prompted them to greenlight fewer movies than they could have preferred to. It seems to us that Skydance is money wealthy, and it could be our expectation that Skydance will likely be releasing extra movies popping out of Paramount than Paramount has been releasing in recent times.
“You’ll additionally recall that David Ellison is not any rookie within the movie enterprise,” he mentioned of the chairman and CEO of recent Paramount. “He’s been a primary pressure of among the most essential movies which have come out in recent times.” He known as Top Gun: Maverick, the place Skydance was an investor, “the one movie you could level to since Covid hit in 2020 that turned the movie theater industry round. … It lastly reminded numerous studio chiefs that the long run was not solely of their streaming companies, but additionally of their theatrical releases, and that typically essentially the most profitable movies on streaming companies had been these movies that had an important theatrical releases.
He additionally praised Paramount’s new president Jeff Shell. “We’ve had an outstanding relationship with Jeff Shell over the previous decade. … His affect over what occurs at Paramount will likely be profound, and we predict it’s going to be superb for exhibition.”
Ellison informed CNBC on Friday that “we’re going to speculate into our studios enterprise” with Paramount releasing six to eight movies subsequent yr, rising to fifteen in 2027. The merged firm’s first massive announcement solely hours after closing, Paramount Pictures co-chairs Dana Goldberg and Josh Greenstein nabbed hot package High Side, re-teaming A Complete Unknown’s James Mangold and Timothée Chalamet.
Shari Redstone officially closed the sale of her household firm to Skydance final Thursday.
A facet deal to that greater transaction could be Skydance unloading theater chain National Amusements, which it acquired from Redstone together with management of Paramount. Aron, on the decision, alluded generally to doubtlessly “fascinating acquisition alternatives” for including to its portfolio by means of M&A. The remark comes a number of days after Paramount brass indicated that the company is looking to exit the exhibition business.
Content Source: deadline.com