NYC mayor Zohran Mamdani joined the list of people who have publicly opposed the Warner Bros. and Paramount merger. On April 23, hours before the shareholders of two media conglomerates voted in favor of the $111 billion takeover, Mamdani spoke against Paramount Skydance’s acquisition of Warner Bros. Discovery.
NYC mayor Zohran Mamdani calls out Paramount-Warner Bros merger
NYC mayor Zohran Mamdani is the latest political figure to voice opposition to the merger between Paramount Global and Warner Bros. Discovery. In an X post from April 23, he claimed that the acquisition will affect his district. “This merger is bad for New Yorkers three times over. Thousands of jobs at risk here in the city,” the post began,
“Streaming bills going up as competition disappears,” the post continued. “And two of America’s most powerful media companies under one roof, deciding what you watch and what you hear. Today, as Warner Bros. and Paramount shareholders vote, New York City is on record: this merger should be stopped.”
Mayors and members of Congress do not have the authority to approve or block the transaction. While shareholders have voted in favor of the acquisition, it still requires approval from the Justice Department, international regulators, and state attorneys general.
Earlier this month, thousands of Hollywood professionals, including heavyweights like Denis Villeneuve, Yorgos Lanthimos, David Fincher, and J.J. Abrams, signed an open letter opposing the acquisition (via the A.V. Club). It claimed that the merger will result in job losses and reduced competition in the market. Actors such as Bryan Cranston, Ben Stiller, Mark Ruffalo, and Joaquin Phoenix also signed 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 letter stated.
As per The Hollywood Reporter, Paramount, for its part, assured those opposing the merger that it will “remain deeply committed to talent, and this merger strengthens both consumer choice and competition, creating greater opportunities for creators, audiences, and the communities they live and work in.”
Originally reported by Ankita Shaw on Mandatory.
