A group of over a thousand prominent figures in the film industry, including actors, writers, and directors, have strongly voiced their opposition to the proposed merger between Paramount and Warner Bros. Discovery in a public letter released on Monday. The merger, valued at $111 billion US, is set to combine two major studios into one entity, a move that the industry insiders fear will lead to job cuts and a decrease in film production in an already shrinking Hollywood landscape.
Notable names such as Denis Villeneuve, Kristen Stewart, J.J. Abrams, and Joaquin Phoenix are among those who have come out against the deal, emphasizing concerns about the reduced opportunities for creators, diminished job prospects across the production sector, increased costs, and limited choices for audiences worldwide. The open letter, hosted on BlocktheMerger.com, points out that the merger would result in just four major film studios operating in the U.S.
The agreement between David Ellison’s Paramount Skydance and Warner Bros. Discovery, which is one of the largest media mergers to date, is pending a shareholder vote and regulatory approval. Paramount Skydance’s CEO, David Ellison, has committed to maintaining both Paramount and Warner Bros. as separate studio entities and plans to release a combined total of 30 films annually in theaters. However, the merger is expected to bring about significant layoffs due to operational redundancies.
In response to the concerns raised in the open letter, Paramount has defended the merger by stating that it will provide more opportunities for creators rather than fewer. The studio argues that the consolidation of strengths will enable the company to greenlight more projects, support talent at various career stages, and deliver stories to a global audience on a larger scale.
Despite Paramount’s reassurances, many industry professionals believe that the merger will lead to widespread job losses and a concentration of power within the industry. The letter, organized by a coalition of advocacy groups including the Committee for the First Amendment, the Democracy Defenders Fund, and the Future Film Coalition, expresses worries about the potential compromise of the industry’s integrity, independence, and diversity.
Numerous well-known figures from the entertainment industry have signed the letter, including Ben Stiller, Don Cheadle, Javier Bardem, Lily Gladstone, Lin-Manuel Miranda, Tiffany Haddish, Ted Danson, and others. Damon Lindelof, a signatory and the creator of “Watchmen” and co-creator of “Lost,” shared his concerns on Instagram, highlighting the impact of mergers on job opportunities and expressing fears about the potential consequences of the deal.
Warner Bros. representatives have not yet responded to requests for comments regarding the open letter and the opposition to the merger.