Kristen Stewart, Joaquin Phoenix sign open letter opposing Paramount-Warner Bros deal

More than 1,000 writers, actors and directors released an open letter on Monday (April 13) opposing Paramount Skydance's planned $110 billion acquisition of ​Warner Bros Discovery.

 The letter, which was signed by actors including Kristen Stewart, Ben Stiller and Joaquin Phoenix, warned that the merger would “consolidate an already concentrated media landscape” and harm Hollywood’s already ​distressed ⁠entertainment industry.

 Separately, a Competition and Markets Authority (CMA) spokesperson announced on Monday that Britain's antitrust watchdog is expected to launch an investigation into the acquisition in "the coming weeks."

 Paramount and Warner Bros did not immediately respond to Reuters' request for comments about the investigation by the UK's CMA.

 Paramount signed the $110 billion deal for Warner Bros in February, after a weeks-long battle with rival bidder Netflix, which declined to raise its offer.

 The Paramount-Warner deal is expected to close in the third quarter of this year.

-Francesca Halliwell/Reuters