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The agreement entails further investment from Paramount in U.S. film production and a pledge to release a minimum of 30 films each year in the first two years after the merger.
According to the agreement, the firm will allocate $1.5 billion across five years and guarantee extensive theatrical runs on a minimum of 2,000 screens. If these obligations are not met, Paramount would need to sell the Miramax studio and provide compensatory payments.
The contract additionally forbids the company from shutting down or selling Paramount and Warner Bros. studio locations in Los Angeles for five years. Moreover, Paramount will create a separate board to guarantee unbiased editorial practices for CBS News and CNN.
source: cbsnews.com
According to the agreement, the firm will allocate $1.5 billion across five years and guarantee extensive theatrical runs on a minimum of 2,000 screens. If these obligations are not met, Paramount would need to sell the Miramax studio and provide compensatory payments.
The contract additionally forbids the company from shutting down or selling Paramount and Warner Bros. studio locations in Los Angeles for five years. Moreover, Paramount will create a separate board to guarantee unbiased editorial practices for CBS News and CNN.
source: cbsnews.com
