Paramount Skydance is currently in the process of finalizing specifics to acquire Warner Bros. Discovery in a deal worth around $110 billion. All the while, various people have been speaking out about the proposed merger, with creatives across Hollywood having shared a plethora of thoughts. Now, a total of 1,000 creatives including the likes of Mark Ruffalo, Kristen Stewart and Adam McKay are voicing their opposition to the deal via an open letter. With that, Paramount has since issued a response to the sentiments.
Various Hollywood Creatives Sign Open Letter Denouncing The Paramount/Warner Bros. Merger
Signees of the initial open letter are actors, directors, producers and media pundits and, aside from those previously named, Don Cheadle, Alyssa Milano, Denis Villeneuve, Joaquin Phoenix and Jane Fonda were among the others who signed. Said letter was published early Monday morning, with Variety reporting about the situation. Via that statement, the stars collectively assert that they’re expressing their “unequivocal opposition” to the supposed merger. As for the reason for their position, they say the following:
This transaction would further consolidate an already concentrated media landscape, reducing competition at a moment when our industries—and the audiences we serve—can least afford it. The result will be fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences in the United States and around the world. Alarmingly, this merger would reduce the number of major U.S. film studios to just four.
Per the letter, the creatives also express concerns about the entertainment industry already being under “severe strain” due to continued media consolidation. It’s also argued that this “has accelerated the disappearance of the mid-budget film, the erosion of independent distribution, the collapse of the international sales market, the elimination of meaningful profit participation, and the weakening of screen credit integrity.” The letter closes with the creatives reiterating their stance and stressing the importance of “competition”:
Competition is essential for a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement. Media consolidation has already weakened one of America's most vital global industries—one that has long shaped culture and connected people around the world.
Up to this point, the notion of competition within the industry has been mentioned as a key factor by those arguing against the merger. The potential economic impacts of the deal (which will seemingly result in various layoffs across different brands) has also been mentioned.
Paramount Releases A Statement In Response To The Letter
A reaction from Paramount was shared later on Monday, with the studio saying it can “hear and understand the concerns that some in our creative community have raised and respect the commitment to protecting and expanding creativity.” The company also emphasizes it knows “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.” It also says:
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.
Before Paramount landed Warner Bros., the latter was initially set to be acquired by Netflix, a prospect that also worried director James Cameron along with others. (Cameron’s own blistering response to the deal also garnered a reaction from Ruffalo.) The tides changed, however, after Paramount topped the steamer’s $83 billion bid. Netflix co-CEO Ted Sarandos later confirmed that the price is what caused the company to back out, and he also expressed concerns about potential job losses. As for Paramount, its letter concludes with:
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.
Nevertheless, creatives seem to be standing firm in their positions. That includes a prolific TV writer, as they both signed the letter and discussed that decision on their own.
Damon Lindelof Weighs In On The Paramount/WBD Merger
Among the many to lend their voices to the chorus of creatives speaking out against the merger was Damon Lindelof. The creator of Lost, The Leftovers and other shows took to Instagram to express his concerns about Warner Bros. being folded into Paramount. Lindelof also admitted that he was initially hesitant to voice his opposition publicly but decided to for several reasons, including the prospect of crew members losing work:
Because Hollywood, believe it or not, is a blue-collar town. It’s thousands and thousands of Grips and Gaffers. Drivers and Decorators. Builders and Boom operators. Camera teams and Caterers. And they’re all about to get fucked. Hollywood mergers mean fewer movies and fewer TV shows and that means fewer jobs. When two storied backlots are owned by the same company, the outcome is intuitive —one becomes a Ghost Town. I’m scared. But I’m not a ghost. And a fight is already lost if it’s never fought.
This message from Lindelof comes as he works on an upcoming DCU show for WBD, Lanterns. It’s also worth noting that some of the other signatories have projects that are in various stages of production at Warner Bros. As Paramount continues to go through the consolidation process, time will tell if other stars speak out.
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