Creators push back on big studio deal
Nearly 1,000 artists and creators signed an open letter urging regulators to block Paramount Global’s proposed acquisition of Warner Bros. Discovery. The public opposition coincides with reporting that Britain’s competition watchdog is expected to open a probe into the $110bn transaction in the coming weeks ( ).
More than 1,000 actors, writers and directors have asked regulators to block Paramount’s planned purchase of Warner Bros. Discovery as the deal heads toward a British antitrust review. (gov.uk, deadline.com) The open letter was published on April 13 and signed by figures including Ben Stiller, Bryan Cranston, Jane Fonda, Joaquin Phoenix, Emma Thompson and Lin-Manuel Miranda. The organizers included the Writers Guild of America, the Future Film Coalition, the Committee for the First Amendment and the Democracy Defenders Fund. (deadline.com) The signatories wrote that the merger would “threaten the sustainability of the entire creative community” and said more studio consolidation would cut jobs, reduce buyer competition and narrow the range of projects that get made. Paramount said the combined company would create “more avenues” for creative work, not fewer. (deadline.com) Britain’s Competition and Markets Authority opened an invitation-to-comment process on April 13 and said comments are due by April 27. The regulator said it has not yet formally opened a Phase 1 investigation, but the case page says pre-notification has begun and the page will be updated when a formal probe starts. (gov.uk) That matters because this is one of the biggest media tie-ups in years: Paramount announced on February 27 that it had agreed to buy Warner Bros. Discovery in a transaction valuing Warner Bros. Discovery at $110 billion. Paramount said it would pay $31 a share in cash for Warner Bros. Discovery and aims to close in the third quarter of 2026, subject to shareholder and regulatory approvals. (paramount.com) Paramount has pitched the merger as a scale play against larger streaming rivals and said the combined company would commit to at least 30 theatrical films a year. The company also said it would keep licensing content and preserve major brands with independent creative leadership. (paramount.com, deadline.com) The creators’ case is the opposite: they argue Hollywood already has too few major buyers for films and television, and another merger would give writers, directors and crews even less leverage. Their letter also praised California Attorney General Rob Bonta and other state attorneys general for examining the transaction. (deadline.com) The next test is no longer just public opinion. By April 27, the British watchdog will have a first round of outside comments in hand, and the companies will be waiting to see whether that turns into a formal Phase 1 antitrust investigation. (gov.uk)
