More than 1,000 film and television professionals have signed an open letter opposing Paramount’s pending $111bn acquisition of Warner Bros Discovery, as the deal awaits approval from regulators. Published Monday on BlocktheMerger.com, the letter argues the merger would concentrate too much power in too few hands and weaken competition across Hollywood.
The signatories include Joaquin Phoenix, Ben Stiller, Mark Ruffalo, Yorgos Lanthimos and Kristen Stewart, along with Jane Fonda, Javier Bardem, Glenn Close, Sandra Hüller, Rose Byrne, Lin-Manuel Miranda, Mary Steenburgen, Lily Gladstone and Laura Poitras. Directors Denis Villeneuve, Boots Riley, Mimi Leder and Nicole Holofcener also added their names, as did Emma Thompson, James Wilson, David Chase, Noah Wyle, Ramy Youssef, Rob Delaney, Jason Bateman and Ted Danson.
The letter says the merger would “prioritise the interests of a small group of powerful stakeholders over the broader public good” and that “the integrity, independence and diversity of our industry would be grievously compromised.” It adds that “competition is essential for a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement,” while warning that “media consolidation has already weakened one of America’s most vital global industries – one that has long shaped culture and connected people around the world.” The writers say a “vibrant future” must be protected for the US’s “single most significant export.”
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That concern lands at a moment when the proposed deal would fold two of Hollywood’s biggest studios into one company. Warner Bros Discovery owns HBO, HBO Max,, TBS and Food Network, alongside the Warner Bros film and television studios, and many people in the business fear the combination would mean lower quality and substantial job losses. Paramount chief executive David Ellison has said the deal would benefit the creative community and has pledged investment in both studios, while promising to release 30 films in cinemas each year. That pledge has been met with skepticism across the industry.
The debate is also colored by the Ellisons’ ties to Donald Trump, which have raised additional fears about how the merger might be received. Paramount’s campaign to buy Warner Bros was reportedly pursued after David Ellison beat Netflix to become the key bidder, but the question now is whether regulators will accept the argument that one of Hollywood’s biggest mergers is also good for competition. For the people who signed Monday’s letter, the answer is already no.
