Hundreds of big names in the American film industry, including Hollywood stars, have signed an open letter challenging the acquisition of Warner Bros. Discovery by Paramount Skydance.
Hundreds of personalities from American cinema, including Jane Fonda, Joaquin Phoenix, JJ Abrams and Denis Villeneuve, signed an open letter on Monday against the merger between two major Hollywood studios, according to Agerpres.
“This transaction would further consolidate an already highly concentrated media landscape and reduce competition”it is stated in the document, signed including by the French director Bertrand Bonello.
“The result: fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs and fewer choices for audiences in the United States and around the world”the letter also states.
Paramount Skydance outbid Netflix in acquisition talks and would take control of Warner Bros. Discovery (Harry Potter, “The Lord of the Rings”, “Game of Thrones”), if US competition authorities approve the transaction.
“This merger would reduce the number of major US studios to just four”the text warns.
There are fears in the Hollywood industry that the purchase could reduce investment in film production, with knock-on effects on a sector that employs tens of thousands of people, particularly in California.
But Paramount Skydance, whose executives have ties to President Donald Trump’s administration, according to AFP, says it aims to increase production to at least 30 high-quality films a year released in theaters.
