Opposition is growing within Hollywood to a proposed merger between Paramount and Warner Bros. Discovery, after more than 1,400 actors, directors, and filmmakers signed an open letter calling for it to be halted. The move comes amid concerns about the deal’s impact on competition and employment opportunities in an industry already facing ongoing disruptions.
Details
The letter includes prominent names such as Emma Thompson, Ben Stiller, Javier Bardem, and Rose Byrne, along with Kristen Stewart and Glenn Close, with more names continuing to be added.
Signatories believe the deal—estimated at around $111 billion—would reduce the number of major studios in the United States to just four, which would lead to:
- A decline in jobs in the production sector
- A reduction in the number of film and television projects
- Fewer choices available to global audiences
They also warned that merging major media companies at a time when the industry is still dealing with the effects of the COVID-19 pandemic, the 2023 strikes, and digital transformation would deepen the crisis rather than solve it.
On the other hand, Paramount Skydance defended the deal, stating it would boost production by releasing at least 30 films annually and create broader opportunities for creators, while maintaining the independence of studios and brands.
The deal, which came after Netflix withdrew from the competition, is still awaiting approval from shareholders and regulators.
What’s Next?
Attention is now shifted to regulatory decisions in California, amid increasing pressure from within the industry to block or modify the deal.
