Share and Follow
In a bold move against Paramount’s acquisition of Warner Bros. Discovery, nearly 1,000 of Hollywood’s writers, actors, and directors have signed a letter denouncing the potential merger that could dramatically alter the entertainment industry landscape.
Among the notable names lending their voices are Ben Stiller, Bryan Cranston, and Joaquin Phoenix. These industry heavyweights argue in the letter that the merger would further “consolidate an already concentrated media landscape,” leading to “fewer opportunities for creators, job losses across the production spectrum, higher costs, and reduced options for audiences both in the U.S. and globally.”
The letter expresses concern over the merger, stating, “We are deeply troubled by signs of support for this merger that put the interests of a few influential stakeholders above the broader public good.”
Various advocacy groups, including the Committee for the First Amendment—a free speech organization spearheaded by actress Jane Fonda—organized the collection of signatures, as reported by The New York Times.
This wave of opposition follows Paramount Skydance’s successful bid over Netflix to acquire Warner Bros. Discovery. The $110 billion deal, finalized in February, has sparked fears among critics about potential job losses across the industry.
In response to the letter, Paramount released a statement reaffirming its commitment to continuing licensing content and to release at least 30 movies per year in theaters.
“We understand the concerns raised as a result of the disruptions caused to our industry by COVID, entry of big-tech, and changes in consumer behavior, but we promise this: Paramount remains deeply committed to talent, and this merger strengthens both consumer choice and competition, creating greater opportunities for creators, audiences and the communities they live and work in,” a Paramount spokesperson said according to The Hollywood Reporter.
The merger, which still needs regulatory approval, is under scrutiny from California’s Attorney General Rob Bonta, who said following the announcement in February that it’s still “not a done deal.”
“Paramount/Warner Bros is not a done deal. These two Hollywood titans have not cleared regulatory scrutiny — the California Department of Justice has an open investigation, and we intend to be vigorous in our review,” Bonta tweeted.
The letter praised Bonta for “scrutinizing the merger” and for “considering legal action to block it.”