Hollywood Heavyweights Urge Regulators to Block $111B Paramount–WBD Merger

A group of more than 1,000 actors, directors, and writers is publicly pushing back against one of the largest proposed mergers in Hollywood history, warning it could reshape the industry in ways that limit jobs, creativity, and consumer choice.

In an open letter released Monday titled “Block the Merger,” prominent figures including Joaquin Phoenix, Ben Stiller, and Kristen Stewart called on regulators to stop Paramount Skydance’s planned $111 billion acquisition of Warner Bros. Discovery (WBD). The letter, published online, represents one of the most organized and high-profile protests against media consolidation in recent years.

The signatories argue that combining two of Hollywood’s historic “Big Five” studios would shrink the number of major film players to four, reducing competition at a critical moment for the industry. According to the letter, that kind of consolidation would likely mean fewer films getting made, fewer jobs across production pipelines, and less room for creative risk-taking.

They also frame the deal as a broader antitrust issue. The letter warns that concentrating so much power in a single company could lead to higher prices for audiences and fewer choices in theaters and on streaming platforms. It calls on California Attorney General Rob Bonta and other state regulators to investigate and potentially block the transaction.

The list of supporters extends well beyond a handful of recognizable names. Filmmakers such as Denis Villeneuve and Yorgos Lanthimos joined actors including Bryan Cranston, Tiffany Haddish, and Lily Gladstone, signaling concern across both commercial and independent filmmaking circles.

The merger itself has been moving quickly. Paramount Skydance, led by CEO David Ellison, secured the deal in late February after outbidding competitors including Netflix and Comcast. The agreement values Warner Bros. Discovery at $31 per share and is now approaching a key vote by WBD shareholders scheduled for April 23.

Ellison has attempted to ease concerns by promising that Paramount and Warner Bros. would continue operating as distinct studio labels. He has also committed to maintaining a robust theatrical slate, with a combined output of about 30 films per year. Supporters of the deal argue that scale is necessary for traditional studios to compete with tech giants that dominate streaming and global distribution.

Still, skepticism remains strong within the creative community. Many see this merger as part of a longer trend that began with Disney’s acquisition of 20th Century Fox in 2019—a shift that, in their view, has already narrowed opportunities and centralized decision-making.

If shareholders approve the deal later this month, it will move into the final phase of regulatory review. A closing is expected in the third quarter of 2026, but mounting public pressure from within Hollywood could complicate that path.