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More than a thousand prominent figures from Hollywood, including acclaimed movie stars, writers, and directors, have declared their "unequivocal opposition" to the proposed merger between Paramount and Warner Bros. Discovery. Their collective stance was articulated in an open letter published on Monday, signalling widespread concern across the industry.
A significant contingent of the film world, featuring luminaries such as Denis Villeneuve, Kristen Stewart, JJ Abrams, and Joaquin Phoenix, has forcefully spoken out against the £87 billion deal. They argue that the consolidation of two legacy studios would inevitably lead to further job losses and a reduction in film production within an already contracting Hollywood landscape.
The letter, posted on BlocktheMerger.com, states: "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. Alarmingly, this merger would reduce the number of major U.S. film studios to just four."
The proposed acquisition, which would see David Ellison’s Paramount Skydance take over Warner Bros. Discovery, represents one of the largest media mergers in history. The deal, which saw Paramount emerge victorious over a rival bid from Netflix, is currently awaiting a shareholder vote later this month and government regulatory approval. This move follows a trend of massive consolidations in Hollywood, notably Disney’s £56 billion acquisition of 20th Century Fox in 2019.
Joaquin Phoenix is one of the stars that has spoken out (AFP/Getty)
Ellison, chief executive of Paramount Skydance, has attempted to assuage fears, pledging to maintain Paramount and Warner Bros. as standalone movie studio operations and committing to releasing a combined 30 films annually in cinemas. While acknowledging that the merger would result in "considerable cuts" due to duplicated roles, Paramount has maintained that the fusion would "strengthen the overall job market."
However, many within the film industry remain unconvinced, believing the merger will primarily lead to extensive job losses and an unhealthy concentration of power. The letter further expresses: "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 integrity, independence, and diversity of our industry would be grievously compromised."
The open letter was organised by a coalition of advocacy groups, including the Committee for the First Amendment – a free speech organisation led by Jane Fonda – alongside the Democracy Defenders Fund and the Future Film Coalition. Other notable signatories include Ben Stiller, Don Cheadle, Javier Bardem, Lily Gladstone, Lin-Manuel Miranda, Tiffany Haddish, and Ted Danson.
Damon Lindelof, the creator of Watchmen and co-creator of Lost, who holds an overall deal with Warner Bros. Discovery, detailed his decision to sign the letter on Instagram.
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He wrote: "Hollywood mergers mean fewer movies and fewer TV shows and that means fewer jobs. 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."
Representatives for Paramount and Warner Bros. did not immediately respond to requests for comment regarding the letter.