The open letter was published on Monday on BlocktheMerger.com. It has garnered signatures from prominent figures including Joaquin Phoenix, Ben Stiller, Mark Ruffalo, Yorgos Lanthimos, Kristen Stewart, Jane Fonda, Javier Bardem, Glenn Close, Sandra Hüller, Rose Byrne, Lin-Manuel Miranda, Mary Steenburgen, Lily Gladstone, Laura Poitras, Denis Villeneuve, Boots Riley, Mimi Leder, Nicole Holofcener, Emma Thompson, James Wilson, David Chase, Noah Wyle, Ramy Youssef, Rob Delaney, Jason Bateman, and Ted Danson. The letter argues that media consolidation has already weakened one of America's most vital global industries. The signatories express deep concern over indications of support for the merger that prioritize the interests of a small group of powerful stakeholders over the broader public good, as noted in the letter.
The merger is worth some $111 billion and is awaiting approval by regulators. If successful, the merger would consolidate two of Hollywood's most significant studios. Many believe the merger would result in diminishing quality and significant job losses. The merger threatens the sustainability of the entire creative community, including endangering the professional lives of tens of thousands of workers in small businesses and independent companies.
Regulatory bodies reviewing the merger have not been specified, and a decision timeline remains unclear. The letter references unspecified indications of support for the merger, but details on these endorsements are not provided. Estimates of how many of the tens of thousands of workers mentioned are at risk of job losses have not been disclosed. Paramount's official response to the open letter and the concerns raised has not been made public. Alternative proposals to address industry concerns without blocking the merger have not been suggested by the signatories or other stakeholders in the letter. The signatories advocate for ensuring a vibrant future must be ensured for the US's single most significant export, highlighting the stakes involved.