Paramount-Open Letter

More than a thousand movie stars, writers, directors and other Hollywood professionals announced their “unequivocal opposition” to the proposed Paramount merger with Warner Bros. Discovery in an open letter published Monday. A large swath of the movie industry, including Denis Villeneuve, Kristen Stewart, J.J. Abrams and Joaquin Phoenix came out forcefully against the $111 billion deal that would consolidate two legacy studios into one, arguing it would further reduce jobs and movies in an already downsized Hollywood. In late February, David Ellison’s Paramount Skydance reached a deal to acquire Warner Bros. Discovery in one of the largest media mergers ever. The deal awaits a shareholder vote and regulatory approval.

Paramount Skydance CEO David Ellison has promised to release 30 movies a year between Paramount and Warner Bros. He announced this commitment at CinemaCon in Las Vegas, emphasizing a 45-day exclusive theatrical window. The announcement comes amid Paramount's pending $111 billion acquisition of Warner Bros. Discovery. The studio also revealed a third “Top Gun” movie is in development as part of its starry presentation to exhibitors. The merger has sparked debate, with some filmmakers opposing it due to concerns about its impact on the exhibition business. The deal still awaits regulatory approval and a shareholder vote.