More than 1,000 actors, filmmakers and other industry professionals, including Joaquin Phoenix, Ben Stiller, Rosie O’Donnell and Noah Wyle, issued an open letter Monday opposing Paramount Skydance’s pending acquisition of Warner Bros. Discovery, warning the deal could reduce competition and harm the entertainment industry.
The letter, published Monday in the New York Times, raises concerns about the broader impact of the proposed merger on creative independence and the industry’s workforce.
Signatories included Jason Bateman, Adam McKay, Alan Cumming, Bryan Cranston, Glenn Close, Lin-Manuel Miranda and Mark Ruffalo, among others.
“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 states. “The integrity, independence, and diversity of our industry would be grievously compromised. Competition is essential for a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement.”
Signatories said combining the two companies could result in fewer productions and job losses across the industry, particularly for crew members and other behind-the-scenes workers.
The proposed deal, valued at roughly $111 billion, would unite two major media companies under one corporate structure with broad control over film and television production and distribution.
Paramount defended the proposed merger, saying it would expand opportunities for creators and strengthen the industry.
“We hear and understand the concerns that some in our creative community have raised and respect the commitment to protecting and expanding creativity,” the company said Monday in a statement.
“This transaction uniquely brings together complementary strengths to create a company that can greenlight 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,” the statement continued.
The proposed merger is subject to regulatory approval and could face scrutiny from federal antitrust officials.
