Warner Bros. Discovery Has Been “Really Shut Down” By Strikes, CFO Says, But Free Cash Flow Is Rising As Company Is “Unable To Deploy Capital” For Production

Warner Bros. Discovery CFOechoed recent sentiments from Netflix and other major TV and film producers, saying the industry must resolve the ongoing strikes and “get back to work.”

That’s easier said than done, of course, with the WGA and SAG-AFTRA both dug in and little movement in talks with the AMPTP. Predictions of a breakthrough by Labor Day have given way to pessimism about a deal getting done at all this fall. Appearing virtually at an investor conference hosted by BofA Securities, Wiedenfels called the strikes “an unfortunate situation.” WBD CEO David Zaslav, he said, “is spending a lot of his time with his peers on trying to resolve it as quickly as possible.

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