Cinema stars write a letter regarding the merger of Warner Bros. Discovery and Paramount. The giant responds

Over a thousand film and television stars, including: Joaquin Phoenix and Kristen Stewart, published an open letter in protest against the planned acquisition of Warner Bros. Discovery by Paramount Skydance – informed the portal of the American industry magazine “Variety”.

“We are deeply concerned about signals of support for this merger and the prioritization of the interests of a small group of influential entities over the good of society as a whole,” said the letter published Monday, which was published in the New York Times and is also available on the BlocktheMerger.com website.

“The integrity, independence and diversity of our industry would be seriously threatened. Competition is essential to a healthy economy and a healthy democracy, as is thoughtful regulation and its enforcement,” the authors of the letter emphasized.

The 1,034 “distinguished signatories” of the appeal included: Joaquin Phoenix, Kristen Stewart, Denis Villeneuve, Cynthia Nixon, Elliot Page, Jane Fonda, JJ Abrams, Mark Ruffalo and Patti Lupone.

As reported by the New York Times, The letter was initiated by a coalition of advocacy organizations. These included: the Committee for the First Amendment – a group fighting for freedom of speech, led by actress Jane Fonda, the Defenders of Democracy Fund – an organization founded, among others, by Norm Eisen, US ambassador in the Barack Obama administration, and the Future Film Coalition – a group of independent professionals from the film industry.

Paramount issued a lengthy statement on Monday in response to the letter, saying, among other things, that it hears and understands the concerns expressed by some in the film community and respects its “commitment to protecting and advancing creativity.”

“This transaction uniquely combines complementary strengths to create a company that can approve more projects, nurture bold ideas, nurture talent at different stages of their careers, and deliver stories to audiences on a truly global scale – while strengthening competition by ensuring that multiple players of all sizes are investing in creative talent,” Paramount said in a statement.

February 27 Warner Bros. Discovery (WBD) and Paramount Skydance (PSKY) announced an agreement regarding the acquisition of WBD by PSKY, worth over USD 110 billion. This happened after WBD accepted a new, higher offer, and Netflix, which was originally supposed to buy WBD, announced that it would not increase its offer. The transaction means that the Warner Bros. film studios will now go to the same company. and Paramount, streaming platforms HBOMax and Paramount+, as well as television channels such as CNN and CBS and Poland's TVN. (PAP)

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