More than 1,000 Hollywood figures oppose Paramount-Warner Bros deal

LONDON: More than 1,000 writers, actors and directors have signed an open letter opposing Paramount Skydance’s planned $110 billion acquisition of Warner Bros Discovery, arguing that the transaction would further concentrate power in an already consolidated entertainment industry.

The letter was released on Monday and carries the signatures of prominent figures including Kristen Stewart, Ben Stiller and Joaquin Phoenix. The signatories said the proposed merger would worsen structural imbalances in Hollywood and limit opportunities for creators working across film and television.

At the centre of the appeal is the argument that the deal would consolidate an already concentrated media landscape, weakening competition and reducing the range of stories that reach audiences. The letter says the effects would extend beyond industry professionals and would also be felt by viewers around the world who depend on a wide variety of content.

The signatories said continued consolidation in Hollywood has already been linked to a sharp decline in mid-budget filmmaking, as well as a narrowing path for independent distribution and international sales. They also raised concerns about shrinking profit participation for creators and what they described as reduced integrity in screen credits.

According to the letter, the merger would leave only four major US film studios, a change the signatories said would significantly undermine competition and creative independence in the sector. They warned that such concentration would place decision-making authority in the hands of a small number of corporate entities.

The letter also pointed to possible consequences for employment, saying tens of thousands of workers across production ecosystems, including many employed by small or independent companies, could face long-term instability if consolidation continues on this scale.

Regulatory scrutiny in the UK

In a separate development, a spokesperson for Britain’s Competition and Markets Authority said the UK antitrust regulator is expected to open an investigation into the proposed acquisition in the coming weeks. The authority has not yet set out the scope of its inquiry, but its expected involvement adds to broader regulatory attention surrounding the proposed transaction.

Paramount and Warner Bros did not immediately respond to Reuters’ request for comment on the backlash from creative professionals and the growing scrutiny around the deal.

Paramount secured the $110 billion agreement for Warner Bros in February after a bidding contest that lasted several weeks and included streaming company Netflix, which ultimately did not increase its offer.

The open letter ends with a call for regulators to intervene in defence of competition, cultural diversity and employment stability. The signatories said unchecked consolidation would pose a wider threat not only to Hollywood, but also to the global cultural economy connected to it.