Hollywood has launched a petition against the mega-merger between Paramount and Warner Bros.
Actors Robert De Niro and Holly Hunter, along with director Sofia Coppola, have joined an initiative opposing a potential merger between Paramount and Warner Bros. In total, more than 4,000 members of the film industry have already signed the petition, including dozens of Oscar winners and nominees.
Variety reports this.
As of Thursday morning, April 23, the petition had 4,194 signatures, up from about 1,000 at the time of its publication on April 13. Organizers say support continues to grow.
“This deal will further consolidate an already concentrated media landscape, reducing competition at a time when our industries—and the audiences we serve—can least afford it. The result will be fewer opportunities for creators, job losses across the production ecosystem, increased costs, and reduced choice for audiences in the U.S. and around the world. It is alarming that this merger will reduce the number of major American film studios to just four,” the letter states.
Florence Pugh, Pedro Pascal, Edward Norton, Kristen Stewart, Joaquin Phoenix, Ben Stiller, Cynthia Nixon, Glenn Close, Jane Fonda, David Fincher, Denis Villeneuve, and many other prominent figures in the film industry have also joined the campaign.
The initiative was launched by professional organizations and unions, including the Writers Guild of America and a number of human rights and media groups. They warn that the merger could significantly reduce competition, the number of jobs, and content diversity.
Meanwhile, the deal between Paramount and Warner Bros. is still awaiting approval from regulators in the U.S. and Europe and could become the subject of lawsuits.
Meanwhile, reports are emerging in the media about other major deals in the industry: earlier reports indicated Netflix’s interest in Warner Bros. Discovery’s assets and potential sweeping changes in the streaming services market and the film industry.
Warner Bros. Discovery shareholders approved the deal for Paramount Skydance to acquire the media holding company by an overwhelming majority.
More than a thousand directors, actors, producers, and film and television industry professionals have signed an open letter calling for a halt to the planned merger of Warner Bros. Discovery and Paramount Skydance.
Paramount recently announced a $110 billion deal to acquire Warner Bros. The transaction now requires regulatory approval, which is the next step in the process of integrating the two media giants.
Additionally, Paramount Skydance has filed a lawsuit against Warner Bros. Discovery, demanding additional information regarding the massive $82.7 billion deal with Netflix. Paramount states its intention to block the agreement, which involves the streaming service acquiring Warner Bros. Discovery.
