1,500 filmmakers, including Fincher & Villeneuve, criticize the Paramount-Warner takeover in an open letter. What they demand.
When it became known that the renowned Hollywood studio Warner was to be sold, it shocked the entire industry. After the announcement, a tug-of-war developed between Netflix and Paramount over the rights to various brands such as “Harry Potter” associated with the purchase. New billions of dollars surrounding the takeover kept circulating. In the end, Paramount won the race and won the contract for $111 billion. The agreement marks the largest media takeover in history. However, this is exactly what is now facing headwinds from the industry.
Open letter against the takeover
The takeover by Paramount is imminent and will undoubtedly have far-reaching consequences for the film and media landscape – not only in the USA, but worldwide. For years there was a balance in Hollywood with the so-called Big Five – Disney, Warner, Paramount, Sony and Universal. With the merger of Warner and Paramount, this is likely to get out of hand in the future.
Given exactly this circumstance, resistance is now emerging from part of the film industry. A total of 1,500 filmmakers signed an open letter criticizing the studio’s incorporation. These include well-known directors such as David Fincher, Denis Villeneuve and JJ Abrams.
In the letter, Hollywood creatives express their concerns about the planned consolidation. The letter warns of dwindling competition, the increasing concentration of power and influence – which would have to be approved by antitrust law – the disappearance of medium-sized films in favor of a few blockbusters, and worse negotiating conditions and remuneration for workers in the industry.
“We are deeply concerned by any signs of support for this merger, which puts the interests of a small group of influential stakeholders above the common good. It would seriously harm the integrity, independence and diversity of our industry.”
Political dimension
However, the dimensions of the deal go beyond the world of the dream factory. He may have a political interest, as US President Donald Trump and Paramount boss David Ellison are close to each other. As the industry magazine “Deadline” noted, the president of the takeover could thereby remove legal barriers.
The open letter continues: “Competition is essential to a healthy economy and a healthy democracy. Equally important are thoughtful regulation and enforcement. Media concentration has already weakened one of America’s most important global industries – an industry that has long shaped culture and connected people worldwide.”
Warner dismisses concerns
The billion-dollar takeover affects several world-famous film and series titles such as “Game of Thrones”, “Dune” and “The Lord of the Rings”. Warner explained that the deal was simply bringing together complementary strengths in order to be able to implement even more great ideas within the above-mentioned film universes in the future. The company dismisses the filmmakers’ concerns.
