Over 1,000 writers, actors, directors release letter opposing Warner deal

Over 1,000 writers, actors and directors released a letter opposing Paramount Skydance’s (PSKY) acquisition of Warner Bros. Discovery (WBD). The letter states in part, “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. This transaction would further consolidate an already concentrated media landscape, reducing competition at a moment when our industries- and the audiences we serve – 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. Alarmingly, this merger would reduce the number of major U.S. film studios 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, 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.”