An open letter signed by hundreds of prominent Hollywood figures was published Monday opposing a deal that would have the historic Warner Bros. studio swallowed up by rival Paramount.The cast includes: Joaquin Phoenix, Ben Stiller, Kristen Stewart, 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, Rose O’Donnell, Ted Danson, Tiffany Haddish, Tig Notaro, Yorgos Lanthimos, and Yvette Nicole Brown are among the more than 1,000 people who have added their names. To protest the massive merger between two famous Hollywood studios.“This deal would further consolidate an already concentrated media landscape, reducing competition at a time when our industries — and the audiences we serve — cannot afford it,” the petition said.“The result will be fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and fewer choices for audiences in the U.S. and around the world.”Paramount SkyDance, run by David Ellison, said in February that it planned to acquire Warner Bros. for $111 billion.
Home to huge franchises including ‘Harry Potter’, ‘The Lord of the Rings’ and ‘Game of Thrones’.The bid beat out an offer from industry startup Netflix, which was seen as the less bad of the two options by Hollywood insiders.People around Tinseltown fear that merging the two studios will inevitably lead to cutbacks, especially since the massive price tag is set to be financed, meaning the new owners will have to make savings.
The cuts would not only impact the creatives who drive the American film industry, but would also cut jobs for tens of thousands of people who work below the line — makeup artists, set designers, limo operators, food truck owners, and florists throughout Los Angeles.“It is alarming that this merger would reduce the number of major American film studios to just four,” the letter said.“Our industry is already under intense pressure, largely due to previous waves of consolidation.
We have seen a sharp decline in the number of films produced and released.“Competition is essential to a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement. Media consolidation has weakened one of America’s most vital global industries—an industry that has long shaped culture and connected people around the world.”Paramount Skydance, whose bid is understood to have the support of US President Donald Trump, has pledged to continue cinema releases at a regular clip.“We have been clear in our commitments to (increase) production to at least 30 high-quality feature films per year with full theatrical releases,” the company said in a statement on Monday.“We understand the concerns raised as a result of the disruptions COVID has caused to our industry, the entry of big tech, and changes in consumer behavior, but we promise this: Paramount remains deeply committed to talent, and this merger enhances consumer choice and competition, creating greater opportunities for creators, audiences, and the communities in which they live and work.”
