Actor George Clooney voiced skepticism about the proposed merger between Paramount and Warner Bros. Discovery on Wednesday at the Venice Film Festival. Speaking at a press conference ahead of receiving the Golden Lion lifetime achievement award, Clooney said he does not see how the transaction financially makes sense for those pursuing it.

The $111 billion deal, including debt, would combine two major Hollywood studios under Paramount Skydance leadership. Warner Bros. Discovery shareholders approved the transaction earlier this year. The combined entity would control Paramount+, HBO Max, CBS, CNN and extensive film libraries.

Clooney described the merger as complicated and raised concerns about consolidation. "I worry when a big company swallows up another company," he said. "I always worry whenever big companies are consolidating because it means a lot of people are going to lose their jobs."

He also defended fellow actor Mark Ruffalo's right to criticize the deal. Ruffalo faced accusations of antisemitism after linking the Ellison family, who back the transaction, to issues in the Middle East. "I support Mark Ruffalo’s ability to speak freely," Clooney said. "It’s ridiculous. We’re not going to ban speech. I believe in free speech even when I completely disagree with it. That’s important. In fact, it’s part of how democracy works."

Clooney noted broader challenges facing the industry, including the rise of artificial intelligence, which he predicted would eliminate a significant number of jobs in visual effects and other areas. The remarks came amid ongoing regulatory reviews of the merger, which has drawn attention for its potential impact on competition and employment in entertainment.

The deal positions the new company as a major player against streaming giants like Netflix. Industry observers have highlighted risks of reduced opportunities for writers, actors and crew members if further consolidation occurs.