More than a thousand prominent figures in the film industry, including actors, writers, directors, and other professionals, have expressed strong opposition to the proposed merger between Paramount and Warner Bros. Discovery. In a public statement released on Monday, individuals such as Denis Villeneuve, Kristen Stewart, J.J. Abrams, and Joaquin Phoenix voiced their concerns about the $111 billion deal that aims to merge two historic studios into a single entity. They argue that the merger would lead to a reduction in jobs and film production in an already shrinking Hollywood landscape.
The open letter, which can be viewed on BlocktheMerger.com, highlights the potential negative impacts of the merger, stating that it would result in fewer opportunities for creators, decreased employment in the industry, increased costs, and limited choices for audiences worldwide. The signatories warn that the consolidation would leave only four major U.S. film studios in operation.
The agreement between David Ellison’s Paramount Skydance and Warner Bros. Discovery, one of the largest media mergers to date, is pending approval from shareholders and government regulators. Paramount’s successful bid followed extensive negotiations and a competing offer from Netflix that fell short.
Paramount Skydance CEO, David Ellison, has assured that both Paramount and Warner Bros. will continue to function as separate movie studios after the merger. The combined entity plans to release 30 movies annually in theaters but anticipates significant workforce reductions due to overlapping operations.
In response to the concerns raised in the open letter, Paramount has defended the merger, stating that it will provide creators with more platforms to showcase their work. The studio believes that the consolidation of resources will enable the company to greenlight more projects, support talent at various career stages, and reach global audiences on a larger scale.
Despite Paramount’s reassurances, many industry insiders fear that the merger will lead to widespread job losses and a concentration of power within the film sector. The signatories of the open letter, organized by a coalition of advocacy groups including the Committee for the First Amendment, the Democracy Defenders Fund, and the Future Film Coalition, stress the potential threats to the industry’s integrity, independence, and diversity.
The letter was endorsed by a host of influential figures such as Ben Stiller, Don Cheadle, Javier Bardem, Lily Gladstone, Lin-Manuel Miranda, Tiffany Haddish, and Ted Danson. Damon Lindelof, the creator of “Watchmen” and co-creator of “Lost,” who has a deal with Warner Bros. Discovery, shared his concerns about the merger on Instagram, emphasizing the negative impact on job opportunities and creative diversity.
Warner Bros. representatives have yet to comment on the open letter and the opposition to the merger.