Paramount strikes Regal deal for 30 films yearly

Paramount has struck a deal with Regal Cinemas to secure 30 films a year in its theaters, a move aimed at easing antitrust concerns over its planned merger with Warner Bros Discovery. The agreement is part of Paramount’s broader effort to win approval from regulators by showing it can still compete fairly in the movie business. Regal, one of the country’s largest theater chains, is a key player in these negotiations, and this deal signals Paramount’s push to lock in partners before a potential legal showdown over the merger.

The backdrop is a high-stakes fight with the U.S. Department of Justice, which has sued to block the merger, arguing it would reduce competition and give the combined company too much control over film releases and theater access. Paramount’s strategy is to preemptively offer concessions—like guaranteeing a steady flow of movies to independent theaters—to prove the deal won’t harm rivals. Regal’s acceptance of this deal suggests at least one major circuit is willing to work with Paramount, even as opposition from Cinema United, another major chain, remains firm against the merger.

Regal’s commitment covers a significant chunk of its screen capacity, though exact terms haven’t been disclosed. The theater chain has historically been open to partnerships that ensure a strong slate of films, especially as the industry recovers from pandemic-era losses. Still, not all exhibitors are on board—Cinema United has publicly slammed the merger, arguing it would give the new entity too much power over ticket prices and film distribution. That split could complicate Paramount’s broader strategy, as regulators will weigh whether these deals are enough to offset anti-competitive risks.

If the merger clears legal hurdles, the 30-film guarantee could become a permanent fixture in Paramount’s distribution model, reshaping how movies reach audiences. But the fight isn’t over. The DOJ’s case is still pending, and other theater chains may hold out for better terms—or oppose the merger entirely. For now, Paramount’s move is a calculated gamble: lock in allies early, or risk losing control of the narrative in a battle that could redefine Hollywood’s power structure.