NEW YORK — A coalition of more than 1,000 entertainment industry professionals has publicly declared their complete opposition to the massive proposed merger between Paramount and Warner Bros. Discovery, releasing an open letter on Monday.
The entertainment industry coalition includes notable figures such as Denis Villeneuve, Kristen Stewart, J.J. Abrams, and Joaquin Phoenix, all speaking out against the $111 billion transaction that would combine two historic studios. Industry professionals argue this consolidation would further eliminate positions and reduce film production in an already shrinking Hollywood landscape.
“The result will be fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences in the United States and around the world,” the letter states, which was published on BlocktheMerger.com. “Alarmingly, this merger would reduce the number of major U.S. film studios to just four.”
The acquisition agreement between David Ellison’s Paramount Skydance and Warner Bros. Discovery was finalized in late February, creating one of the entertainment industry’s largest mergers in history. The transaction still requires shareholder approval later this month and must pass government regulatory review. Paramount Skydance secured the deal after extended negotiations and successfully competing against a rival offer from Netflix.
This merger follows other significant Hollywood consolidations, including Disney’s $71.3 billion purchase of 20th Century Fox in 2019.
David Ellison, who serves as Paramount Skydance’s chief executive, has committed to maintaining Paramount and Warner Bros. as independent movie studio divisions and promised to distribute 30 theatrical releases annually. While the merger will inevitably lead to significant workforce reductions due to overlapping positions, Paramount maintains that combining Paramount and Warner Bros. Discovery will “strengthen the overall job market.”
However, numerous film industry professionals fear the merger will trigger widespread layoffs and concentrate too much industry control in fewer hands.
“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 continues. “The integrity, independence, and diversity of our industry would be grievously compromised.”
Several advocacy organizations coordinated the letter’s publication, including the Committee for the First Amendment — a free speech organization headed by Jane Fonda — along with the Democracy Defenders Fund and the Future Film Coalition. Additional notable signers include Ben Stiller, Don Cheadle, Javier Bardem, Lily Gladstone, Lin-Manuel Miranda, Tiffany Haddish, and Ted Danson.
On Monday, signatory Damon Lindelof explained his participation through an Instagram post. Lindelof, who created “Watchmen” and co-created “Lost,” currently has a production agreement with Warner Bros. Discovery.
“Hollywood mergers mean fewer movies and fewer TV shows and that means fewer jobs,” Lindelof posted. “When two storied backlots are owned by the same company, the outcome is intuitive — one becomes a Ghost Town. I’m scared. But I’m not a ghost. And a fight is already lost if it’s never fought.”
Neither Paramount nor Warner Bros. representatives provided immediate responses to requests for comment regarding the letter.
