PSKY-WBD Merger Has A New Set of Critics: Marvel Stars Benedict Cumberbatch And Wong Warn ‘We Have Seen This Before’

• Benedict Cumberbatch, Benedict Wong and Alan Cumming urged UK regulators to review the merger, warning it could harm creators.
• They said the merger threatens Britain’s creative industry, which supports over 180,000 jobs and billions in economic activity. 
• The actors also warned that past media mergers led to job cuts and fewer productions. 

Paramount Skydance Corp. (PSKY) and Warner Bros. Discovery’s (WBD) proposed $110 billion deal is drawing renewed scrutiny as Hollywood stars Benedict Cumberbatch, Benedict Wong and Alan Cumming call on U.K. regulators to block the merger, warning that the combination could put creative jobs at risk, weaken competition and narrow the range of stories reaching audiences. 

Actors Challenge Deal PSKY-WBD Deal  

The three Marvel superheroes of “Doctor Strange” and “Avengers” fame have called on the U.K. secretary of state and the Competition and Markets Authority to examine the merger through a public-interest lens, stating that a larger entertainment conglomerate could reduce opportunities for creators and limit the variety of content available to audiences. 

“The UK is being threatened by a media merger that would harm our workers, our culture and the public – but we can stop it," they wrote in a joint op-ed in The Guardian on Monday.

The actors highlighted the importance of Britain’s creative economy, which supports more than 180,000 jobs and generates billions of pounds in production activity each year. They argued that fewer major companies controlling distribution could make it harder for smaller studios and independent creators to find audiences.

“The industry supports more than 180,000 jobs, generated £6.8bn in production spend last year alone and adds roughly £12bn a year in value to our economy. It is one of the things the UK still does better than almost anyone, and a cultural heritage we must protect.”

Paramount Skydance stock edged 0.4% lower overnight, ahead of Tuesday. The stock is on track for its worst month since March.  

Paramount-Warner Bros. Merger: Creative Sector Impact

Cumberbatch, Wong and Cumming argue that large-scale consolidation has historically resulted in cost reductions, workforce cuts and fewer projects moving forward.

“We have seen this before. When Discovery merged with WarnerMedia in 2022, it shelved finished films and cut thousands of jobs; when Skydance merged with Paramount last year, it laid off about 2,000 people. Now the same executives are making the same promise, and UK crews, producers, talent and audiences will pay when the bill comes due.”

The proposed merger faces scrutiny across multiple jurisdictions. In the U.K., Culture Secretary Lisa Nandy is considering intervention based on public interest. 

Last week, Paramount said it is pausing its planned $110 billion purchase of Warner Bros. Discovery (WBD) until June 1, 2027, or until a court decides on an antitrust case challenging the deal after California Attorney General Rob Bonta and 12 other states challenged the deal, saying the merger could hurt competition in movies, cable television, and streaming services.

The European Commission, however, has approved the acquisition, allowing the media merger to proceed if Paramount meets strict competition requirements. 

PSKY Stock: Retail View 

On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory. 

A user said, “I just hope once this merger mess is done Elliston will turn the new Warner-Paramount Empire into another Disney.”

So far this year, while PSKY stock cratered 31%, WBD stock has slumped 12%. 

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