More than 1,000 Hollywood figures, including major actors, writers, and directors, [1]signed an open letter opposing Paramount Skydance's [2]proposed takeover of Warner Bros. Discovery, arguing it would [3]hurt an industry "already under severe strain ." The deal is still under regulatory scrutiny in both the U.S. and U.K., while Paramount says the merger would strengthen competition and expand opportunities for creators. NBC News reports:

> "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 signatories wrote in the letter, published early Monday on a website called Block the Merger. "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," the signatories added.

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> [T]he open letter illustrates the deep resistance to the deal among many members of Hollywood's creative community. The list of signatories includes A-list stars (Glenn Close, Ben Stiller), celebrated filmmakers (Yorgos Lanthimos, Denis Villeneuve) and acclaimed writers ("The Sopranos" creator David Chase). "Media consolidation 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 signatories wrote. "Together, these factors threaten the sustainability of the entire creative community," they added.

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> [...] Monday's open letter letter was spearheaded by a group of advocacy organizations -- including the Committee for the First Amendment, a free speech group led by Fonda, who warned that the merger "would be one of the most destructive threats to free speech and creative expression in our history." In the letter, first reported by The New York Times, the signatories expressed support for California Attorney General Rob Bonta, who has said the merger is "not a done deal." "These two Hollywood titans have not cleared regulatory scrutiny -- the California Department of Justice has an open investigation, and we intend to be vigorous in our review," Bonta said in a Feb. 26 post on X.

Paramount Skydance said that they "hear and understand the concerns" and are committed to "protecting and expanding creativity." The studio also reiterated its commitment to releasing a minimum of 30 "high-quality feature films annually with full theatrical releases" and "preserving iconic brands with independent creative leadership" to make sure "creators have more avenues for their work, not fewer."



[1] https://blockthemerger.com/openletter

[2] https://entertainment.slashdot.org/story/26/02/27/1027259/netflix-ditches-deal-for-warner-bros-discovery-after-paramounts-offer-is-deemed-superior

[3] https://www.nbcnews.com/business/media/hollywood-letter-paramount-warner-bros-merger-rcna331499