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Jane Fonda is speaking out against Netflix\u2019s earthshaking move to acquire Warner Bros. Discovery, calling the $82.7 billion deal<\/a> a \u201ccatastrophic\u201d development that threatens to \u201cdestroy our creative industry.\u201d<\/p>\n Fonda released her statement against the acquisition on Instagram<\/a> through her Committee for the 1st Amendment organization. She wrote on Friday, \u201cToday\u2019s News that Warner Bros. Discovery has accepted a purchase bid is an alarming escalation of the consolidation that threatens the entire entertainment industry, the democratic public it serves and the First Amendment.\u201d<\/p>\n More from Variety<\/strong><\/p>\n She continued, \u201cMake no mistake, this is not just a catastrophic business deal that could destroy our creative industry. It is a constitutional crisis exacerbated by the administration\u2019s demonstrated disregard for the law.\u201d<\/p>\n Directing her message to the powers that be, Fonda demanded the Justice Department and state regulators abstain from using their legal standing to \u201cextract political concessions that influence content decisions or chill free speech.\u201d In a sidebar to \u201cNetflix and any company that becomes involved in this destructive deal,\u201d Fonda wrote that it\u2019s their \u201cresponsibility to defend our rights, not trade them away to pad your pockets. We know there will be enormous pressure to acquiesce, it is critical you stay strong.\u201d<\/p>\n Hollywood at large has been mostly sour on the Netflix-Warner Bros. deal, with lawmakers<\/a>, film producers<\/a> and industry guilds<\/a> alike all voicing concerns in the last week. Many expect the deal to cause seismic shifts in the entertainment industry, especially in the theatrical sector.<\/a><\/p>\n After months of deliberation, Netflix acquired Warner Bros. Discovery on Friday, outbidding David Ellison\u2019s Paramount Skydance and Comcast. The cash and stock transaction is valued at $27.75 per share, and the deal is expected to close within 12-18 months, according to Netflix and WBD.<\/p>\n Best of Variety<\/strong><\/p>\n Sign up for Variety’s Newsletter<\/a>. For the latest news, follow us on Facebook<\/a>, Twitter<\/a>, and Instagram<\/a>.<\/p>\n<\/div>\n