Washington DC [US], April 13 (ANI): Joaquin Phoenix, Ben Stiller, Kristen Stewart and more than 1,000 Hollywood TV stars, celebrities and creatives issued an open letter Monday opposing Paramount Skydance's pending acquisition of Warner Bros. Discovery, reported Variety.

'We are deeply concerned by indications of support for this merger that prioritise the interests of a small group of powerful stakeholders over the broader public good,' the letter, which was published Monday by the New York Times and available on the website BlocktheMerger.com, reported Variety.

By citing the reduction in competition, the open letter stated, 'The integrity, independence, and diversity of our industry would be grievously compromised. Competition is essential for a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement.'

Run by CEO David Ellison, Paramount Skydance announced its intended 111 billion USD acquisition of the David Zaslav-led Warner Bros. Discovery in late February, following a battle with Netflix for the assets, reported Variety.

Included in the 'featured signatories' section in the new open letter opposing the deal, which was signed by more than 1,034 people at the time of publication, were: Adam McKay, Alan Cumming, Alyssa Milano, Boots Riley, Bryan Cranston, Cynthia Nixon, Damon Lindelof, David Fincher, Denis Villeneuve, Elliot Page, Glenn Close, Jane Fonda, JJ Abrams, Jason Bateman, John Leguizamo, Lin-Manuel Miranda, Margaret Cho, Mark Ruffalo, Noah Wyle, Patti Lupone, Ramy Youssef, Rosario Dawson, Rose O'Donnell, Ted Danson, Tiffany Haddish, Tig Notaro, Yorgos Lanthimos and Yvette Nicole Brown, among others.

'Watchmen' creator Lindelof, who is currently under an overall deal with Warner Bros. Discovery's HBO, explained his reasoning for signing the letter in an Instagram post Monday, noting he does 'sort of know my (potential ) new boss, David Ellison' and calls him a 'bright, ambitious and passionate' exec who 'loved movies and trusted the people he made them with.'

Lindelof says despite that impression he has of the Paramount CEO, and the concerns he and his peers have of potential retaliation in the industry, he chose to sign the open letter opposing the merger mainly in support of Hollywood's 'blue-collar town' makeup.

'Hollywood mergers mean fewer movies and fewer TV shows and that means fewer jobs. When two storied backlots are owned by the same company, the outcome is intuitive --one becomes a Ghost Town. I'm scared. But I'm not a ghost. And a fight is already lost if it's never fought. So I signed. Proudly. I understand why many of my peers have not -- trust me, I'm more of a puker than a stormer. But these boats are heading for the beach whether we like it or not. The only thing we have any control over is what we do when we get there,' wrote Lindelof.

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The open letter stated, 'Media consolidation has accelerated the disappearance of the mid-budget film, the erosion of independent distribution, the collapse of the international sales market, the elimination of meaningful profit participation, and the weakening of screen credit integrity. Together, these factors threaten the sustainability of the entire creative community. That includes endangering the professional lives of the tens of thousands of workers who help make up that community in predominantly small businesses and independent companies embedded in local economies and communities nationwide,' as quoted by Variety.

'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. The integrity, independence, and diversity of our industry would be grievously compromised. Competition is essential for a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement. Media consolidation has already weakened one of America's most vital global industries--one that has long shaped culture and connected people around the world,' concluded the open letter as quoted by Variety. (ANI)