Forbes·2025-12-05 19:10Core Insights - Major movie theater stocks, including AMC and IMAX, experienced a decline of at least 2% following Netflix's announcement of its acquisition of Warner Bros. Discovery for $82.7 billion, raising concerns about the future of theatrical windows for movies [1] Group 1: Stock Performance - AMC shares fell approximately 3% before 1 p.m. EST, continuing a downward trend over the past five trading days, resulting in a nearly 7% decline overall [2] - IMAX shares dropped 4.5% to $34.58, although the stock has increased by more than 5% over the last month [2] - Cinemark Holdings, which operates around 500 theaters in the U.S., saw its shares fall 7.8%, reaching the lowest point of the year [2] - The Marcus Corporation, owning 78 theaters, experienced a 5.7% drop, erasing gains made since November 20 [3] Group 2: Industry Concerns - Netflix co-CEO Ted Sarandos indicated that theatrical release windows will "evolve to be much more consumer friendly," which has raised alarms among theater operators [3] - Sarandos criticized "long exclusive windows" in theaters and previously labeled theatrical release models as "outdated," suggesting a shift in industry dynamics [3] Group 3: Industry Reactions - The Directors Guild of America plans to meet with Netflix to discuss concerns regarding the acquisition and its implications for theatrical releases [4] - Christopher Nolan, president of the guild, has voiced worries about the streaming industry's effect on theatrical releases, criticizing Warner Bros.' decision to release films on streaming platforms simultaneously with their theatrical debuts [4] - Nolan described HBO Max as the "worst streaming service" and argued that Warner Bros. is dismantling an effective system for distributing films in theaters and homes, claiming the decision lacks economic sense [4]