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Stock impact report

Hollywood stars sign open letter protesting the Paramount-Warner Bros. merger [MSNBC.com]

Warner Bros. Discovery, Inc. - Series A (WBD) 
Company Research Source: MSNBC.com
Bryan Cranston, Jane Fonda, Joaquin Phoenix and more than 1,000 other Hollywood professionals released an open letter Monday vehemently opposing Paramount Skydance’s takeover of Warner Bros. Discovery, arguing that the corporate tie-up would hurt an industry “already under severe strain.”“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 signatories wrote in the letter“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. Alarmingly, this merger would reduce the number of major U.S. film studios to just four,” the signatories added.Paramount Skydance chief David Ellison inked a deal to acquire Warner Bros. Discovery in late February, triumphing over Netflix for control of a sprawling media empire that includes an iconic Show less Read more
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