Actor Mark Ruffalo blasted the outcome of the long-running fight over Paramount's $110 billion acquisition of Warner Bros. Discovery after a federal judge cleared the Hollywood megadeal to move forward Wednesday.
Ruffalo, who had been one of the most vocal Hollywood opponents of the merger, called the outcome "incredibly disappointing."
"This merger will stifle creativity, weaken free speech, and cost people their jobs – it is a bad deal for this country and should never have been approved," Ruffalo wrote in a post on X.
"This is an incredibly disappointing outcome for the hundreds of thousands of us who stood up to block it, but it's also not the end," he continued. "This grassroots movement isn't going to fade away and neither is our resolve. This was never about just one merger: this was about fighting back against corrupt oligarch billionaires trampling the interests of everyday people to line their own pockets."
PARAMOUNT REACHES SETTLEMENT WITH STATES SUING TO BLOCK WARNER BROS DISCOVERY TAKEOVER
"We're still in that fight," he added. "Join us."
A federal judge on Wednesday issued an order allowing Paramount to close its acquisition of Warner Bros. Discovery, clearing the way for the historic Hollywood merger to move forward.
U.S. District Judge Araceli Martínez-Olguín called the deal a "reasonable factual and legal resolution" while rejecting objections seeking broader restrictions.
The order came after Paramount and a California-led coalition of 12 state attorneys general, which had sued to block the acquisition, reached a settlement.
California Attorney General Rob Bonta, who led the coalition, previously said the combined company made an "enforceable commitment to significantly increase domestic production."
MARK RUFFALO URGES CALIFORNIA AG ROB BONTA NOT TO 'CAVE' IN PARAMOUNT-WARNER BROS MERGER FIGHT
Under the settlement, the company committed to releasing at least 30 movies annually in each of the first two years, followed by 32 movies per year over the next three years. At least four films each year must be independent releases.
Paramount also agreed to spend at least an additional $1.5 billion on U.S. film production over five years compared with its 2025 spending levels, according to Bonta's office.
Paramount and Warner Bros. Discovery are expected to close the deal Oct. 6, according to Reuters.
Just days before the settlement was announced, Ruffalo had publicly pressured Bonta not to settle.
"Don’t you dare @AGRobBonta, do not cave," Ruffalo posted on X.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In July, the states sued to block the deal, arguing it would reduce competition and give the combined company excessive market power in film distribution and basic cable programming. The settlement announced Sept. 21 resolved those claims, according to Bonta's office.
FOX Business' Brian Flood and Reuters contributed to this report.
Continue reading...
[ H/T Fox Business ]
