Warner Bros. Discovery CFO Says Company Wants to Resolve Strikes ASAP After Disclosing up to $500 Million Earnings Hit From Work Stoppages

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The two Hollywood strikes that have ground TV and film productions to a standstill are bad for business — and Warner Bros. Discovery is working diligently to resolve them as quickly as possib…

is working diligently to resolve them as quickly as possible, according to CFO Gunnar Wiedenfels.

From an operational perspective, “we’re really shut down,” Wiedenfels said. “There’s very little content production going on right now.”expects the dual strikes to result in $300 million-$500 million hit to full-year 2023 earnings According to the WGA estimates, if Warner Bros. Discovery agreed to the union’s proposed contract terms, it would cost the company an additional $45 million a year.

 

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