More than a thousand movie stars have spoken out against the merger of Warner Bros. Discovery and Paramount Skydance

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 between Warner Bros. Discovery and Paramount Skydance.

This was reported by Blockthemerger. 

The authors of the letter warn that the deal could lead to job cuts, rising costs, and a narrowing of content choices for viewers worldwide. The letter notes that if the merger goes through, the number of major film studios in the U.S. could drop to four.

“What is particularly alarming is that this merger will reduce the number of major U.S. film studios to just four,” the document states.

The signatories also emphasize that previous waves of consolidation have already negatively impacted the industry: the number of films has decreased, funding for diverse projects has been cut, and the range of storylines has narrowed.

The letter emphasizes that supporting such a merger could signal that the interests of a narrow circle of influential individuals are prioritized over the public good, threatening the industry’s independence and diversity.

Signatories include Jane Fonda, David Fincher, Kristen Stewart, Joaquin Phoenix, Emma Thompson, Denis Villeneuve, Glenn Close, Javier Bardem, and Mark Ruffalo.

Paramount and Warner Bros. have not yet publicly commented on the situation.

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 Warner Bros. Discovery being acquired by the streaming service.