More than a thousand directors, actors, producers, and film and television industry professionals posted on April 13 Open letterwhich opposed the proposed merger of Warner Bros. Discovery with Paramount Skydance.
According to the letter’s authors, the deal would reduce industry jobs, increase costs and limit options for viewers around the world. “What is particularly troubling is that this merger will reduce the number of major film studios in the United States to just four,” the letter said.
The authors of the letter point out that previous waves of consolidation have already put pressure on the industry: for this reason, the number of films produced and exported has declined, and there are fewer stories receiving financing and distribution.
We are deeply concerned that support for this merger demonstrates the primacy of the interests of a small circle of powerful interests over the common good. As a result, the integrity, independence and diversity of our industry could be seriously compromised.
The letter was signed by Jane Fonda, David Fincher, Kristen Stewart, Joaquin Phoenix, Emma Thompson, Denis Villeneuve, Glenn Close, Javier Bardem, Mark Ruffalo, and others.
Paramount and Warner Bros. There has been no comment on this yet.
Paramount Skydance previously offered approximately $110 billion to buy the media outlet that owns Warner Bros. Discovery. The proposed agreement would bring together two of Hollywood’s largest studios and content libraries, as well as streaming platforms Paramount+ and HBO Max. The companies are planning to consolidate their streaming services into a single platform.
Regulators in the United States and Europe are expected to scrutinize the deal and assess its impact on consumers and the creative community. California prosecutors said they were investigating the proposed deal.
on Warner Bros. originals. Paramount and Netflix have been fighting for months. Netflix initially offered to buy Warner Bros. HBO Max streamed for nearly $83 billion, but ultimately abandoned the battle, losing to Paramount, which offered a higher sum.