Recommendations of the Editorial team
A number of Hollywood stars – including Kristen Stewart, Ben Stiller, Lin-Manuel Miranda, Joaquin Phoenix and Jane Fonda – have signed an open letter, declaring their “unequivocal opposition” to Paramount’s proposed acquisition of Warner Bros. Discovery.
The letter, which has over 1,000 signatories, warns that the merger would “further consolidate an already concentrated media landscape and limit competition at a moment when our industry – and the audiences we serve – can least afford it.” The merger, which would reduce the number of major Hollywood studios to four, would lead to fewer jobs, fewer creative opportunities and less choice for audiences – while increasing costs.
“Our industry is already under massive pressure, due in large part to previous waves of consolidation,” the letter said. “We’ve seen a dramatic decline in the number of films produced and released, accompanied by a narrowing of the stories being financed and distributed. Increasingly, a small number of powerful actors are dictating what gets made – and under what terms – leaving creatives and independents with fewer and fewer viable ways to continue their work.”
Celebrity support
Signatories include notable actors Bryan Cranston, Mark Ruffalo, Don Cheadle, Glenn Close, Javier Bardem, John Cusack, Lily Gladstone, Patti LuPone, Noah Wyle, Rose Byrne, Ted Danson, Mary Steenburgen, Tiffany Haddish, Marisa Tomei, Jason Bateman, Heather Graham, Ilana Glazer, Abbi Jacobson, Rosario Dawson, Elliot Page and Alyssa Milano. Several renowned writers and directors have also signed on, including David Fincher, Denis Villeneuve, Adam McKay, JJ Abrams, Daniel Kwan, David Chase, Yorgos Lanthimos and Boots Riley.
Media concentration has already “accelerated the disappearance of mid-budget films, undermined independent distribution, collapsed the international sales market, eliminated meaningful profit sharing, and weakened the integrity of screen credits,” the letter continued. The proposed deal between Paramount and Warner Bros. puts “the interests of a small group of powerful actors above the common good.”
Finally, the letter points to various U.S. state attorneys general – including California’s Rob Bonta – who could review the merger and take legal action to block it. “We are grateful for their leadership and stand ready to support all efforts that ensure competition, protect jobs and ensure a vibrant future for our industry, for American culture and for our most important export,” the letter concludes.
Reactions from the industry
Inquiries to representatives from Paramount and Warner Bros. Discovery initially went unanswered.
The letter is the clearest signal yet from the Hollywood community against the planned merger. Paramount won the bidding race with Netflix for Warner Bros. Discovery in February – Paramount’s CEO David Ellison offered $111 billion for the takeover. However, the deal still requires approval at the federal and international levels, a process that is still ongoing.
Ellison moved quickly after his company Skydance completed its acquisition of Paramount last year. This deal also met with considerable criticism – especially after Ellison, son of tech billionaire and Republican donor Larry Ellison, introduced several measures that were clearly aimed at appeasing President Donald Trump and his administration: diversity and inclusion programs were abolished and conservative columnist Bari Weiss was installed as head of CBS News. According to the Wall Street Journal, the younger Ellison Trump is also said to have promised to make sweeping changes at CNN if he successfully acquired Warner Bros. Discovery – another of the president’s favorite targets.
