Home / Business and Economy / Hollywood Stars Rally Against Paramount-WB Merger
Hollywood Stars Rally Against Paramount-WB Merger
16 Apr
Summary
- Over 1,000 Hollywood figures signed an open letter.
- The letter urged to block the proposed Paramount-Warner merger.
- Netflix reported strong Q1 earnings, beating expectations.
A significant coalition of over 1,000 Hollywood professionals, including prominent actors like Joaquin Phoenix, Ben Stiller, and Kristen Stewart, has publicly voiced their opposition to the potential merger between Paramount and Warner Bros. In a strongly worded open letter, these industry figures have called for the deal to be blocked.
This development occurs shortly after Netflix reported its first-quarter 2026 financial results. The streaming giant announced that its revenue and earnings for the January-March period significantly exceeded analyst projections. Netflix's strong performance follows its decision to withdraw from the bidding process for Paramount's studio and streaming assets, after a rival offer from Paramount, backed by Skydance, surpassed Netflix's final bid.
While Netflix did implement a price increase for its services, this change was announced late in March and its full financial impact is expected to be reflected in the upcoming second-quarter earnings. For the first quarter of 2026, Netflix reported adjusted earnings per share of $1.23 on revenue of $12.25 billion, outperforming the average analyst expectations.
