Entertainment
More than 1,000 media professionals, including Kristen Stewart, Pedro Pascal, and Emma Thompson, have signed an open letter opposing the merger between Paramount Skydance, and Warner Bros. Discovery, marking another turn in the Warner Bros. acquisition in Hollywood.
In February, Paramount Skydance reportedly increased its bid to around $110 billion after Netflix dropped out of the bidding process. If approved, the acquisition would combine two major Hollywood studios under one corporate umbrella.
What is the Open Letter about?
The letter, which is available on the websites BlocktheMerger.com and DemocracyDefendersFund.org and was also published in the New York Times, states that the merger between Paramount Skydance and Warner Bros. Discovery will lead to a reduction in competition along with 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."
"Our industry is already under severe strain, in large part due to prior waves of consolidation. We have witnessed a steep decline in the number of films produced and released, alongside a narrowing of the kinds of stories that are financed and distributed. Increasingly, a small number of powerful entities determine what gets made—and on what terms— leaving creators and independent businesses with fewer viable paths to sustain their work." It says.
The letter was organized by a few of the groups, including the First Amendment, led by the actor Jane Fonda, Democracy Defenders Fund, an organization co-founded by Norm Eisen, and the Future Film Coalition, a group of independent film professionals.
Lindelof, one of the Signees, explained why he signed the Letter
The Leftovers creator, Damon Lindelof, who has also signed the letter, explained his reason in an Instagram post on Monday. He expressed his immediate response to being asked to sign the letter to oppose the merger was absolute.
Despite Lindelof noting the hesitation to retaliate and finding David Ellison (CEO of Paramount Skydance) passionate and bright, he decided to sign the letter in the end because he wanted to stand by the blue-collar workers who work in the media industry behind the scenes.
"Because Hollywood, believe it or not, is a blue-collar town. It’s thousands and thousands of Grips and Gaffers. Drivers and Decorators. Builders and Boom operators. Camera teams and Caterers. Hollywood mergers mean fewer movies and fewer TV shows and that means fewer jobs. When two storied backlots are owned by the same company, the outcome is intuitive —one becomes a Ghost Town." Lindelof conluded in his post.
Paramount Responded to the Open Letter
According to the New York Times, an insider from Paramount stated that the company understood the hesitations towards the deal, but this deal with Warner Bros. is going to preserve "iconic brands with independent creative leadership — ensuring creators have more avenues for their work, not fewer."
For the time being, the merger between Paramount Skydance and Warner Bros. Discovery still seems far from being a done deal.
Read the full Letter here.
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