An array of Hollywood A-listers, including Kristen Stewart, Ben Stiller, Lin-Manuel Miranda, Joaquin Phoenix, and Jane Fonda, have signed an open letter stating their “unequivocal opposition” to Paramount’s proposed acquisition of Warner Bros. Discovery.
The letter, which has over 1,000 signatories, says the merger would “further consolidate an already concentrated media landscape, reducing competition at a moment when our industries — and the audiences we serve — can least afford it.” It claims the merger, which would reduce the number major Hollywood studios four, would lead to fewer jobs, creative opportunities, and choices for audiences, while also causing costs to rise.
“Our industry is already under severe strain, in large part due to prior waves of consolidation,” the letter states. “We have witnessed a steep decline in the number of films produced and released, alongside a narrowing of the kinds of stories that are financed and distributed. Increasingly, a small number of powerful entities determine what gets made — and on what terms — leaving creators and independent businesses with fewer viable paths to sustain their work.”
The letter boasts the signatures of an array of big name actors like Bryan Cranston, Mark Ruffalo, Don Cheadle, Glenn Close, Javier Bardem, John Cusack, Lily Gladstone, Patti Lupone, Noah Wyle, Rose Byrne, Ted Danson, Mary Steenburgen, Tiffany Haddish, Marisa Tomei, Jason Bateman, Heather Graham, Ilana Glazer, Abbi Jacobson, Rosario Dawson, Elliot Page, and Alyssa Milano. Several top-tier writers and directors signed as well, including David Fincher, Denis Villeneuve, Adam McKay, JJ Abrams, Daniel Kwan, David Chase, Yorgos Lanthimos, and Boots Riley.
Media consolidation, the letter goes on to state, has already “accelerated the disappearance of the mid-budget film, the erosion of independent distribution, the collapse of the international sales market, the elimination of meaningful profit participation, and the weakening of screen credit integrity.” It suggests that Paramount/Warner Bros. deal prioritizes “the interests of a small group of powerful stakeholders over the public good.”
In closing, the letter notes the various state attorneys general — including California’s Rob Bonta — who are looking into the merger and could take legal action to block it. “We are grateful for their leadership, and stand ready to support all efforts to preserve competition, protect jobs, and ensure a vibrant future for our industry, for American culture, and for our single most significant export,” the letter concludes.
In a statement shared with Rolling Stone, Paramount acknowledged “the concerns that some in our creative community have raised,” but stressed “the need for strong, creative-first and well-capitalized companies that can continue to invest in storytelling.”
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It claimed the merger would bring together “complementary strengths to create a company that can green light more projects, back bold ideas, support talent across multiple stages of their careers, and bring stories to audiences at a truly global scale — while strengthening competition by ensuring multiple scaled players are investing in creative talent.”
In concluded: “We understand the concerns raised as a result of the disruptions caused to our industry by COVID, entry of big-tech, and changes in consumer behavior, but we promise this: Paramount remains deeply committed to talent, and this merger strengthens both consumer choice and competition, creating greater opportunities for creators, audiences and the communities they live and work in.”
The open letter marks the most emphatic move yet from the Hollywood community to take a stand against the proposed merger. Paramount prevailed over Netflix in the bidding war for Warner Bros. Discovery back in February, with the former’s chief executive, David Ellison, putting up $111 billion for the acquisition. However, the deal still needs to secure federal (and international) approval, a process that is ongoing.
Ellison moved quickly for Warner after his company Skydance completed its acquisition of Paramount last year. That deal also garnered significant criticism, especially after Ellison — son of tech billionaire and republican backer Larry Ellison — implemented several changes ostensibly designed to appease President Donald Trump and his administration, like ending diversity and inclusion initiatives and installing the centre-right opinion writer Bari Weiss as head of CBS News. According to The Wall Street Journal, the younger Ellison also reportedly promised Trump that, if he succeeded in buying Warner Bros. Discovery, he would make sweeping changes to CNN, another frequent target of the president’s.
This story was updated at 12:27 p.m. ET with a statement from Paramount.
From Rolling Stone US
