Warner Bros Discovery expects earnings hit of up to $500 million as strikes drag on

is preparing investors for the effects of the writers' and actors' strikes if they continue through the end of this year., said it adjusted its expectations, assuming the financial impact of the strikes will persist through the end of the year. It noted this isn't a prediction of when the strikes will end, but instead shows the financial impact on its TV and movie studios as production is halted.

Members of the Writers Guild of America union have been on strike for more than 100 days, and the actors joined picket lines in July. The work stoppage has come at a moment when media companies are trying to make streaming businesses profitable and pushing theaters back into theaters.

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Warner Bros. Discovery Expects Earnings Hit Of Up To $500 Million From Strikes This YearThe financial impact of ongoing actors and writers strikes as a number on it now as Warner Bros. Discovery said today it’s looking at a hit of $300 million to $500 million in adjusted EBTITDA (earn…
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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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