The Writers’ Guild of America is condemning the potentially disastrous impacts of a merger between Paramount and Warner Bros. Discovery.
In a joint statement from WGA East and West, the guilds expressed their intention to “block the merger” after Paramount’s second bid for WBD was rejected this week, explaining that the acquisition “would be a disaster” for many.
“Merger after merger in the media industry has harmed workers, diminished competition and free speech, and wasted hundreds of billions of dollars better invested in organic growth. Combining Warner Bros. with Paramount or another major studio or streamer would be a disaster for writers, for consumers, and for competition,” the statement reads. “The WGAW and WGAE will work with regulators to block the merger.”
Multiple sources familiar with the ongoing WBD talks told Deadline that the latest bid came in at $24 a share, sweeter than the initial offer of $20 a bit more than a week ago.
The rejection of Paramount’s second bid, initially reported by the New York Post, was followed by a market-moving declaration by WBD, the company’s first confirmation that it is indeed for sale. The company said it’s initiated a strategic review process in light of “unsolicited interest” from “multiple parties.”
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