1,034 Hollywood Professionals Sign Open Letter to Block the $111 Billion Paramount-Warner Merger
Directors, actors, and producers including Denis Villeneuve, Joaquin Phoenix, and David Fincher declare "unequivocal opposition" to a deal that would reduce the major U.S. film studios from five to four, ten days before the shareholder vote.
More than a thousand film and television professionals -- including 75 Oscar winners and nominees -- published an open letter Monday declaring "unequivocal opposition" to the proposed Paramount-Warner Bros. Discovery merger, a $111 billion deal set for a shareholder vote on April 23.
"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 letter, organized by the Democracy Defenders Fund, the Committee for the First Amendment, and the Future Film Coalition, was published at blockthemerger.com and timed to land ten days before Warner Bros. Discovery shareholders vote on whether to approve the acquisition by Paramount Skydance.
What the Letter Says
The signatories argue the merger would reduce the number of major U.S. film studios from five to four, accelerating damage already caused by prior consolidation waves:
"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 connects studio consolidation to a broader economic threat: "tens of thousands of workers who help make up that community in predominantly small businesses and independent companies embedded in local economies and communities nationwide."
It closes by praising California Attorney General Rob Bonta for scrutinizing the deal and pledging to "support all efforts to preserve competition, protect jobs, and ensure a vibrant future for our industry, for American culture, and for our single most significant export."
Who Signed
The 1,034 featured signatories span directors, actors, writers, producers, and crew. Among them:
| Name | Role |
|---|---|
| Denis Villeneuve | Director |
| David Fincher | Director |
| Joaquin Phoenix | Actor |
| Kristen Stewart | Actor/Writer/Director |
| Lin-Manuel Miranda | Actor/Composer/Producer |
| J.J. Abrams | Writer/Producer/Director |
| Jane Fonda | Actor |
| Glenn Close | Actor/Producer |
| Bryan Cranston | Actor/Producer |
| Adam McKay | Director |
| Lily Gladstone | Actor |
| Daniel Kwan | Director/Producer/Writer |
| David Chase | Writer/Director/Producer |
The full list includes over 75 Academy Award winners and nominees.
The Deal
Paramount Skydance, led by CEO David Ellison, agreed to acquire Warner Bros. Discovery on February 26 for $31 per share in cash -- an enterprise value of approximately $111 billion. The deal came after Netflix declined to raise a competing bid.
Ellison has pledged to operate Paramount and Warner Bros. as stand-alone studio operations and to release a combined 30 films per year in theaters. Paramount's response to the letter said the transaction "uniquely brings together complementary strengths to create a company that can greenlight more projects" and support creators.
The deal includes a $7 billion reverse termination fee if regulators block it.
Regulatory Landscape
The merger faces scrutiny from multiple directions:
- DOJ Antitrust Division: Acting head Omeed Assefi said the deal will "absolutely not" receive fast-track approval for political reasons
- California Attorney General: Rob Bonta and colleagues in other states are reportedly considering legal action to block the merger
- Los Angeles County: Supervisors ordered an economic analysis of the deal on March 25, with findings due by July 23
- United Kingdom: The Competition and Markets Authority is expected to open a formal probe in coming weeks
What's Next
Warner Bros. Discovery shareholders vote on April 23. Regulatory review continues in parallel, with the deal expected to close in Q3 2026 if approved. The open letter is still accepting signatures at blockthemerger.com.