After more than 1,000 Hollywood content creators and other figures signed on to a letter opposing the Paramount–Warner Bros. Discovery merger, the company has responded by making the case that the transaction will ensure that there will be “more avenues for their work, not fewer.”
The company statement said, “This transaction uniquely brings together complementary strengths to create a company that can greenlight more projects, back bold ideas, support talent across multiple stages of their careers, and bring stories to audiences at a truly global scale—while strengthening competition by ensuring multiple scaled players are investing in creative talent.
“We have been clear in our commitments to do just that: increasing output to a minimum of 30 high-quality feature films annually with full theatrical releases, continuing to license content, and preserving iconic brands with independent creative leadership —ensuring creators have more avenues for their work, not fewer.”
Earlier on Monday, a coalition of groups posted the letter, warning of the transaction, “We are deeply concerned by indications of support for this merger that prioritize the interests of a small group of powerful stakeholders over the broader public good.” Among those signing were JJ Abrams, Damon Lindelof, David Fincher and Denis Villeneuve, and actors like Don Cheadle, Jason Bateman, Lin-Manuel Miranda, Noah Wyle and Tiffany Haddish. The letter was organized by groups including the Committee for the First Amendment, recently relaunched by Jane Fonda, as well as the Writers Guild of America, Democracy Defenders Fund and the Future Film Coalition.
Paramount CEO David Ellison has previously said that the merger would strengthen the industry and feature film output. But there’s significant worry about massive job loss with the transaction, given the consolidation of two legacy studios under one corporate umbrella.
California Attorney General Rob Bonta and other state AGs are scrutinizing the transaction, with some expectation that the Justice Department will not challenge it.
The full Paramount statement is below:
We hear and understand the concerns that some in our creative community have raised and respect the commitment to protecting and expanding creativity.
Importantly, as creators we know firsthand that this is also a moment when the industry has been facing significant disruption—and the need for strong, creative-first and well-capitalized companies that can continue to invest in storytelling has never been greater.
This transaction uniquely brings together complementary strengths to create a company that can greenlight more projects, back bold ideas, support talent across multiple stages of their careers, and bring stories to audiences at a truly global scale—while strengthening competition by ensuring multiple scaled players are investing in creative talent.
We have been clear in our commitments to do just that: increasing output to a minimum of 30 high-quality feature films annually with full theatrical releases, continuing to license content, and preserving iconic brands with independent creative leadership —ensuring creators have more avenues for their work, not fewer.
We understand the concerns raised as a result of the disruptions caused to our industry by COVID, entry of big-tech, and changes in consumer behavior, but we promise this: Paramount remains deeply committed to talent, and this merger strengthens both consumer choice and competition, creating greater opportunities for creators, audiences and the communities they live and work in.
