Actor George Clooney likened Paramount, the entertainment studio set to be sold for $8 billion in a major entertainment industry merger, to a “mom and pop” store.
Clooney recently GQ In an interview, I asked him about the circumstances surrounding the sale and whether he was interested in the outcome of it, given that it would mean one less studio to hire actors.
“They're all being swallowed up by the giants of the world, Walmart and Amazon.”
“Paramount is one of the great original studios,” Clooney said.
Paramount was founded in 1912 as Paramount Pictures Corporation.
“But some places you can't say anything, because your business is just swallowed up. It's all being swallowed up by the giants of Walmart and Amazon around the world. Our small-town mom-and-pop stores are the Paramount.”
Clooney's views on small business may not sit well with everyone: Paramount Global is projected to hit just shy of $30 billion in revenue in 2023.
Still, this was enough of a drop to send the stock price plummeting and trigger the company to start looking for takeover offers.
The upcoming merger has already led to nearly 2,000 job cuts at Paramount Global, including TV studios and Los Angeles Times Reported.
The studio produces shows such as the hit “Reacher” for Amazon Prime Video and “The Spiderwick Chronicles” for Roku.
Paramount Global's parent company, National Amusements, is being acquired by Skydance Media and other investors for $2.4 billion, with an additional $1.5 billion in cash to pay down debt and another $4 billion to buy out the remaining Paramount shares.
During the interview, Clooney recalled how studios had “raised stars” in the past, but added: “We were at the end of that. You'd worked for a studio, you'd done three or four movies, you had some kind of plan.”
“I don't think that's necessarily the case anymore, so it's harder to rely on stars to sell something.”
The 63-year-old added that it's a “great time to be a young actor” with so many TV shows being produced.
Clooney recently made headlines after his stunt-like attitude following a fundraiser for Joe Biden in May 2024. The actor praised the president for the successful event, which brought in over $28 million for the Democratic presidential campaign.
However, Clooney quickly changed course, telling The New York Times in July 2024 that Biden Protecting Democracy By withdrawing from the presidential race.
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