More than 1,000 filmmakers, actors, and industry experts have united to oppose Warner Bros Discovery’s proposed $110 billion merger with Paramount Skydance. The open letter warns that this deal would further consolidate the U.S. media landscape, diminishing competition and harming the creative ecosystem.
Among the prominent signatories are actors Jane Fonda, Joaquin Phoenix, and Mark Ruffalo. The letter argues that the merger would lead to fewer opportunities for creators, threaten jobs throughout the production chain, increase costs, and limit choices available to audiences.
Paramount and Warner Bros have yet to issue any statements in response to the opposition. The letter, published on Monday, highlights that previous waves of consolidation have already strained the industry by reducing the number of films produced and released, as well as narrowing the diversity of stories that receive funding and distribution.
The proposed merger would unite two of Hollywood’s largest studios and their extensive content libraries, while combining their streaming platforms, Paramount+ and HBO Max, into a single service. This consolidation is expected to reshape the streaming market significantly.
Emarketer senior analyst Ross Benes noted that the letter serves to rally opponents of the merger around a shared cause, though he expressed skepticism that it alone will halt the deal.
Regulatory authorities in both the United States and Europe are anticipated to conduct thorough reviews of the merger, assessing its potential effects on consumers and the creative community. Notably, California Attorney General Rob Bonta has confirmed that the state is actively investigating the transaction and will undertake a rigorous examination.
