More than 1,000 Hollywood professionals have signed an open letter opposing the proposed merger between Paramount and Warner Bros., with prominent actors Jane Fonda and Joaquin Phoenix among the signatories.

The letter expresses concerns that the consolidation will negatively impact the entertainment industry workforce and consumers. Signatories warn the deal could result in fewer employment opportunities for creative professionals working in film and television production.

The entertainment industry professionals also raised concerns about potential consumer impacts, citing expectations of higher costs and reduced choice for audiences if the merger proceeds. The letter represents organized opposition from within the industry to the proposed corporate consolidation.

The Paramount-Warner Bros. merger is expected to face regulatory scrutiny, with reports indicating UK antitrust authorities are likely to review the transaction. Media mergers typically undergo review by competition authorities to assess potential impacts on market competition and consumer welfare.

The entertainment industry has seen significant consolidation in recent years as companies seek to compete with streaming platforms and adapt to changing consumer viewing habits. This proposed merger would combine two major Hollywood studios with extensive film and television production capabilities.