A powerful coalition of Hollywood's biggest names has launched a public campaign against a proposed $111 billion merger between Paramount Skydance and Warner Bros. Discovery, warning it threatens the creative heart of the entertainment industry.
An open letter, published Monday and signed by over 1,000 actors, directors, and industry professionals, argues the deal would dangerously consolidate media power. High-profile signatories include actors Jane Fonda, Joaquin Phoenix, and Bryan Cranston, alongside directors JJ Abrams and Denis Villeneuve.
"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 petition states. "The result will be fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences in the United States and around the world."
Paramount Skydance, led by David Ellison, announced its plan to acquire Warner Bros. in February 2026, outbidding streaming giant Netflix. Warner Bros. is home to iconic franchises like "Harry Potter," "The Lord of the Rings," and "Game of Thrones."
The letter highlights a critical concern: the merger would shrink the number of major U.S. film studios to just four. Industry insiders fear the massive deal, reportedly financed through debt, will lead to significant cost-cutting measures.
"Alarmingly, this merger would reduce the number of major US film studios to just four," the letter continues. "Our industry is already under severe strain, in large part due to prior waves of consolidation. We have witnessed a steep decline in the number of films produced and released."
The potential fallout extends beyond A-list talent. The letter warns of job losses for tens of thousands of "below-the-line" workers—the makeup artists, set designers, drivers, and small business owners who form the backbone of Hollywood's production ecosystem in Los Angeles.
Despite the opposition, Paramount Skydance has pledged to maintain a robust film release schedule. The bid is understood to have the support of U.S. President Donald Trump.