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More than 1,000 Hollywood figures — among them actors Mark Ruffalo, Joaquin Phoenix, and Bryan Cranston, and directors JJ Abrams and Denis Villeneuve — have signed an open letter opposing Paramount Skydance's planned $111 billion takeover of Warner Bros.
The letter warns that the deal would further consolidate an already concentrated media landscape, reducing competition at a moment when the industry can least afford it.
"The result will be 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," the letter states.
Warner Bros. is home to major franchises including Harry Potter, The Lord of the Rings, and Game of Thrones. If the deal proceeds, signatories warn that the number of major U.S. film studios would fall to just four.
"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," the letter reads.
Paramount Skydance announced the takeover bid in February, topping an earlier offer from Netflix, which had been considered the less disruptive of the two options by industry insiders.
Concerns about the merger extend beyond on-screen talent. Industry figures warn that the consolidation would threaten tens of thousands of jobs held by workers across the production ecosystem, including make-up artists, set designers, and other below-the-line crew members based in the Los Angeles area.
Given the reported scale of financing required to fund the deal, signatories argue that cost-cutting measures would be inevitable under new ownership.
"Competition is essential for a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement. Media consolidation has already weakened one of America's most vital global industries — one that has long shaped culture and connected people around the world," the letter states.
In a statement issued Monday, Paramount Skydance pushed back against the criticism, pledging to maintain and expand theatrical output.
"We have been clear in our commitments to output a minimum of 30 high-quality feature films annually with full theatrical releases," the company said.
Paramount Skydance also acknowledged wider industry pressures, citing disruptions from the COVID-19 pandemic, the entry of major tech companies into the entertainment sector, and shifting consumer behavior.
"Paramount remains deeply committed to talent, and this merger strengthens both consumer choice and competition, creating greater opportunities for creators, audiences, and the communities they live and work in," the statement added.
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