Merger will ‘prioritise the interests of a small group of powerful stakeholders over the broader public good’, letter states
Joaquin Phoenix, Ben Stiller, Mark Ruffalo, Yorgos Lanthimos and Kristen Stewart are among more than 1,000 film and TV industry professionals who have signed an open letter protesting against Paramount’s pending acquisition of Warner Bros Discovery, the parent group that owns HBO, HBO Max, CNN, TBS and Food Network, as well as the Warner Bros TV and film studios.
“We are deeply concerned by indications of support for this merger that prioritise the interests of a small group of powerful stakeholders over the broader public good,” states the letter, which was published on Monday on BlocktheMerger.com.
“The integrity, independence and diversity of our industry would be grievously compromised. Competition is essential for a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement.”
The letter argues that “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” and concludes that a “vibrant future” must be ensured for the US’s “single most significant export”.
