Thousands of stars publicly oppose Paramount’s WBD takeover
Thousands of stars publicly oppose Paramount’s WBD takeover
More than 1,000 actors, directors, and producers have signed a letter decrying the merger of the two studios.
An eventual merger between Warner Bros. Discovery and just about any other media company has been an unpopular subject in Hollywood for years. Back when Netflix appeared poised to acquire WBD, Tinseltown wrung its hands over the idea of a streaming service controlling an iconic, legacy TV and movie studio. Now that Paramount Skydance is set to purchase WBD, more than 1,000 of the most well-known actors, directors, producers, and other creatives in Hollywood have signed a letter opposing the deal.
Key Details:
- Big names: Bryan Cranston, Joaquin Phoenix, and other major stars have signed a letter urging the blocking of the merger.
- Who stands to gain?: The letter says the deal prioritizes shareholders over the public good.
- Trust us: Paramount has issued a statement responding to the letter.
The letter was first published by The New York Times, and is now available to read publicly on the website BlocktheMerger.com. It argues that the deal would lead to fewer opportunities for creators, higher costs, and fewer choices for American audiences, while reducing the number of major film studios in the United States to just four.
“We are deeply concerned by indications of support for this merger that prioritize the interests of a small group of powerful stakeholders over the broader public good,” the letter says. “The integrity, independence, and diversity of our industry would be grievously compromised.”
Signatories include huge stars like Glenn Close, Bryan Cranston, Tiffany Haddish, Joaquin Phoenix, Ben Stiller, and more. Over 1,000 names from across Hollywood have already signed. Professionals from across the film and TV industry may have good reason to be concerned, as some projections have indicated that Paramount will have to make $6 billion in job cuts in the deal.
Paramount has responded to the letter, promising to increase the number of theatrical releases from a combined Warner Bros./Paramount studio and to preserve a commitment to talent. An organized resistance to the deal could be a major issue for Paramount, which already faces scrutiny from California’s attorney general, and will also have to win approval from federal and European regulators.
There may not be as much resistance on the federal level; Paramount’s CEO, David Ellison, and his billionaire father, Larry, are close allies of the Trump administration. But resistance in Hollywood circles is another matter, and is building, as this open letter makes clear.
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