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We’ve covered the deal between Paramount and Warner. The entire deal is worth a lot of money; however, people are not happy about it. Paramount Skydance CEO, David Ellison, announced he intended a $111 billion acquisition of Warner Bros. Discovery.
According to Variety, actors like Joaquin Phoenix, Ben Stiller, Kristen Stewart, and over 1,000 other actors are against it. They have all put their names in an open letter opposing the merger. The letter said, in part:
“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. Competition is essential for a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement.”
Included in the “featured signatories” section in the new open letter opposing the deal, which was signed by more than 1,034 people at the time of publication, were: Adam McKay, Alan Cumming, Alyssa Milano, Boots Riley, Bryan Cranston, Cynthia Nixon, Damon Lindelof, David Fincher, Denis Villeneuve, Elliot Page, Glenn Close, Jane Fonda, JJ Abrams, Jason Bateman, John Leguizamo, Lin-Manuel Miranda, Margaret Cho, Mark Ruffalo, Noah Wyle, Patti Lupone, Ramy Youssef, Rosario Dawson, Rosie O’Donnell, Ted Danson, Tiffany Haddish, Tig Notaro, Yorgos Lanthimos and Yvette Nicole Brown, among others.
Random photos of “actors”
A Reply
Paramount issued a lengthy response to the open letter:
We hear and understand the concerns that some in our creative community have raised and respect the commitment to protecting and expanding creativity.
Importantly, as creators we know firsthand that this is also a moment when the industry has been facing significant disruption—and the need for strong, creative-first and well-capitalized companies that can continue to invest in storytelling has never been greater.
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.
We have been clear in our commitments to do just that: increasing output to a minimum of 30 high-quality feature films annually with full theatrical releases, continuing to license content, and preserving iconic brands with independent creative leadership —ensuring creators have more avenues for their work, not fewer.
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.
Will the letter make any difference? With that much money, will anyone stop it? You can read the open letter in full on Variety’s website.
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