There were fears when it seemed like it would be Netflix buying Warner Bros. late last year. But, when Paramount made WB an offer the shareholders couldn't refuse, it seemed that David Ellison's bid would be successful, and Paramount would be the one taking over Warner Bros. This has proved a slightly more popular merger for some, but for big Hollywood names, it seems that the idea of two massive studios becoming one is a concept they'd rather not entertain.
"As filmmakers, documentarians, and professionals across the movie and television industry, we write to express our unequivocal opposition to the proposed Paramount-Warner Bros. Discovery merger," reads the beginning of the open letter opposing the Warner Bros. and Paramount merger. It has been signed by major Hollywood names, including Pedro Pascal, Ben Stiller, Marisa Tomei, Denis Villeneuve, Yorgos Lanthimos, Kristen Stewart, Bryan Cranston, Glenn Close, Mark Ruffalo, Rosario Dawson, and plenty more.
"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 letter continues, arguing that consolidation is seeing the industry under "severe strain" already, and this merger will only make matters worse.
The merger does look set to go ahead, but there is a lot of criticism heading its way. The open letter notes the actions of California attorney general Rob Bonta, who is considering legal action to block Paramount's buyout.