from the nothing-is-my-fault dept More than 4,000 Hollywood insiders recently signed a letter blasting Paramount’s planned $111 billion merger with Warner Brothers, noting that the massive consolidation will be very harmful to labor, consumers, and creatives. As we saw with the AT&T Warner deal , history generally supports this; these debt-riddled deals are broadly, uniformly harmful. Companies that take on this kind of debt always try to address it by cutting corners, raising prices, and firing thousands of people. With the debt from both the CBS and Warner deals (and over-leverage into AI), the Ellison’s media buying spree has the potential to be extra ugly . Amusingly, as they gun for regulatory approval, the Ellisons are apparently trying to circulate the claim that all of the recent negative press about the merger is somehow Netflix’s fault.…