Mark Ruffalo is renewing his opposition to Paramount Skydance’s acquisition of Warner Bros. Discovery after a federal judge approved the settlement clearing the companies to complete the deal.
In his Sept. 30 response published by Entertainment Weekly, Ruffalo wrote, “This merger will stifle creativity, weaken free speech, and cost people their jobs.” He called it a “bad deal for this country” that “should never have been approved.”
U.S. District Judge Araceli Martínez-Olguín approved a consent decree between Paramount and 12 states that had sued to block the transaction on antitrust grounds. The agreement replaces the states’ attempt to stop the acquisition with five years of enforceable commitments covering theatrical releases, domestic production, workers, cable negotiations and news operations.
The approximately $110 billion transaction, including debt, is expected to close Oct. 6, bringing Warner Bros., HBO Max and CNN under the same corporate ownership as Paramount Pictures, Paramount+, CBS and other Paramount properties.
Ruffalo Says the Court Decision Is ‘Not the End’
Ruffalo described the ruling as an “incredibly disappointing outcome” for the people who had organized against the acquisition.
“This grassroots movement isn’t going to fade away and neither is our resolve,” he wrote.
Deadline reported that Ruffalo’s months-long campaign against the deal has focused on media consolidation, entertainment-industry jobs and the amount of corporate control concentrated within a combined Paramount and Warner Bros. Discovery.
Ruffalo was also among the actors and filmmakers who signed an open letter opposing the acquisition, alongside Jane Fonda, Ben Stiller, Joaquin Phoenix, Javier Bardem, Ilana Glazer and Noah Wyle.
He Had Urged California Not to Settle
Ruffalo intensified his public campaign earlier in September as California Attorney General Rob Bonta and Paramount moved toward a settlement.
Addressing Bonta directly on social media, Ruffalo wrote, “Do not cave.” He pointed to thousands of filmmakers who had opposed the transaction and urged supporters to pressure state officials to continue fighting it.
His opposition had already drawn support from other Hollywood figures. Wealth of Geeks previously covered John Cusack backing Ruffalo during an earlier stage of the dispute.
Bonta and the other attorneys general announced their agreement with Paramount on Sept. 21. Rather than continuing their effort to stop the acquisition outright, the states accepted a five-year package of court-enforceable conditions addressing the competition concerns raised in their lawsuit.
The Settlement Comes With Film, Jobs and News Requirements
Under the settlement, the combined company must release 30 theatrical films annually during its first two years and 32 in each of the following three years. At least four films per year must qualify as independent productions.
If Paramount falls short of the annual film requirement, the agreement calls for the company to divest Miramax and pay $30 million for each missed film. The payments would go toward entertainment-industry healthcare and retirement funds as well as additional antitrust enforcement.
Paramount also committed to spending at least $1.5 billion more on U.S. film production over five years than its 2025 baseline. Another $47.5 million will fund training and career development for workers displaced by the merger.
The settlement requires Paramount and Warner basic cable channels to be negotiated separately for five years. A five-member News Editorial Independence Board will also oversee safeguards involving CBS News and CNN.
The States Had Sought to Stop the Acquisition
California and 11 other states sued in July, alleging that the combination would reduce competition in theatrical film distribution and basic cable programming.
The states later secured an agreement preventing the companies from completing the transaction while the lawsuit moved forward. That restriction remained an obstacle until the September settlement and Martínez-Olguín’s approval of the consent decree.
The Justice Department had already completed its federal antitrust review without filing a lawsuit to block the transaction. The states continued pursuing their separate challenge until the settlement replaced their request to stop the acquisition.
Martínez-Olguín acknowledged in her order that a negotiated settlement can leave both sides dissatisfied but concluded that the agreement avoided the risks, time and expense of taking the antitrust case through trial.
Ynon Kreiz Will Join Paramount Before the Oct. 6 Closing
Paramount announced another major leadership change as the acquisition moved toward completion. Mattel Chairman and CEO Ynon Kreiz will join Paramount on Oct. 5 and become co-CEO of the combined company when the Warner Bros. Discovery transaction closes.
Under Paramount’s announced structure, David Ellison will remain chairman and CEO, focusing on long-term strategy, creative direction, technology, talent relationships and capital allocation. Kreiz will oversee day-to-day operations and integration of the two companies.
Kreiz has led Mattel since 2018 and oversaw its expansion further into film and entertainment, including the company’s partnership with Warner Bros. on Barbie.
Paramount and Warner Bros. Discovery expect the transaction to close Oct. 6.