Paramount Global previously outbid Netflix by offering $111 billion (about RM439.3 billion) to acquire Warner Bros. Discovery Group. However, more than a thousand Hollywood writers, actors, and directors jointly raised their voices in public opposition on the 13th, pointing out that this deal will only worsen an already struggling entertainment industry and could even "stifle creativity and swallow up job opportunities."
This industry-shaking open letter united heavyweight film figures including Emmy Award-winning actor Bryan Cranston, Oscar-winning actor Joaquin Phoenix, Oscar-winning actress Emma Thompson, "Dune" director Denis Villeneuve, "Fight Club" director David Fincher, and "Poor Things" director Yorgos Lanthimos. They warn that once the two major studios merge, it will bring a comprehensive impact of "reduced opportunities for creators, job losses throughout the production system, surging costs, and shrinking choices for audiences."
The letter states bluntly, "We are deeply concerned about the current signs of support for this merger, because these stances prioritize the interests of a small group of powerful stakeholders rather than the broader public interest. The integrity, independence, and diversity of our industry will be severely compromised as a result." The content further notes, "We have already seen a sharp decline in the number of movies, and the types of stories that can receive investment and distribution are becoming increasingly narrow. Now, a handful of giants are deciding what gets made and how it's made, leaving almost no room for creators and independent producers to survive."
It's not just creators who are worried; theater operators are also on high alert. Michael O’Leary, CEO of Cinema United, representing 30,000 theaters across the United States, bluntly stated that if film output declines further, “even more theaters will be forced to close.”
Source: Apple Online News