Hollywood A-listers are pushing back against Paramount’s takeover of Warner Bros. Discovery, with nearly 1,000 writers, actors and directors signing a letter condemning the blockbuster merger that would reshape the industry.
Ben Stiller, Bryan Cranston, and Joaquin Phoenix are just some of the Hollywood elite that signed an open letter arguing the deal would “consolidate an already concentrated media landscape” and result in “fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences in the United States and around the world.”
“We are deeply concerned by indications of support for this merger that prioritize the interests of a small group of powerful stakeholders over the broader public good,” the letter read.
The signatures were organized by a variety of advocacy groups — including the Committee for the First amendment, the free speech organization led by actor Jane Fonda, according to The New York Times.
The backlash comes months after Paramount Skydance prevailed over Netflix in its bid to acquire Warner Bros. Discovery, inking a $110 billion deal back in February that critics fear will cost the industry thousands of jobs.
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.”
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