WBD
Published on 04/15/2026 at 04:27 am EDT
Copyright © BusinessAMBE 2023
Key takeaways
More than 1,400 prominent figures from the entertainment industry, including renowned actors, directors and filmmakers, have united in opposition to the proposed merger between Paramount and Warner Bros. Discovery. Their concern centres mainly on the potential damage this consolidation could inflict on an already struggling US entertainment sector.
Reduced competition
The open letter, signed by A-listers such as Emma Thompson, Ben Stiller, Javier Bardem and Rose Byrne, argues that reducing competition within an already concentrated media landscape would be harmful at a time when both the industry and the public are at their most vulnerable.
They state that the takeover, estimated at 111 billion dollars (102 billion euros), would reduce the number of major US film studios to just four. This contraction, they warn, would inevitably lead to fewer jobs for creative professionals, limit the number of buyers and producers of film and television content and ultimately result in less choice for viewers worldwide.
Open letter gains widespread support
Other signatories voicing their strong disapproval include Kristen Stewart, Kristin Scott Thomas and Glenn Close, and more and more industry professionals are joining the list. The letter urges California Attorney General Rob Bonta and other regulatory bodies to block the deal.
Damon Lindelof, co-creator of Watchmen and Lost and a signatory who has a contract with Warner Bros. Discovery, voiced his opposition on social media. He argues that takeovers in Hollywood generally lead to fewer films and television series being produced, with direct consequences for employment in the sector.
Impact on jobs
Paramount Skydance, led by David Ellison, son of tech billionaire Larry Ellison, responded to the concerns by stating that they are committed to maintaining both Paramount and Warner Bros. as independent studios, while seeking to significantly increase film production. They say the takeover will enable them to greenlight more projects, support creators throughout their careers and bring stories to a global audience.
Paramount Skydance also stated that they will continue to license content and preserve iconic brands with independent creative leadership, thereby guaranteeing more opportunities for creators rather than fewer. Despite these assurances, the deal still has to be approved by shareholders later this month and must obtain clearance from government authorities. (fc)
Follow Business AM on Google News as well
Want access to all articles? Take advantage of our temporary offer and subscribe here!
© The Content Exchange, source News