The financial impact of ongoing actors and writers strikes has a number on it now, or one at least, assaid today it’s looking at a hit of $300 million to $500 million in adjusted EBTITDA for 2023 due to the work stoppages.
In a filing this morning with the Securities and Exchange Commission, WBD said “it is expecting lower adjusted EBITDA for the full year in the range of $10.5 to $11 billion, reflecting the company’s assumption that adjusted EBITDA will be negatively impacted by approximately $300 to $500 million, predominantly due to the impact of the strikes.”
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Warner Bros Discovery expects earnings hit of up to $500 million as strikes drag onWarner Bros. Discovery cut profit expectations as the writers' and actors' strikes drag on, keeping production halted.
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Warner Bros. Discovery Says Ongoing Strikes Will Mean $300M-$500M Hit to 2023 Earnings'The company now expects to exceed $1.7 billion in free cash flow for the third quarter of 2023, in part due to the strong performance of 'Barbie' as well as incremental impact from strike-related factors,' the entertainment giant says in a regulatory filing.
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