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Big Media Stocks Backtrack In Jittery Market; Theater Chains Soar On Tentative WGA Deal

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Big media shares, which rose in pre-market trading Monday, opened lower at the bell and are still trending down midday after the Writers Guild reached a tentative deal with studios to end their pro…

Joe Biden Hails Tentative Agreement To End WGA Strike, Says Workers “Deserve A Fair Share Of The Value Their Labor Helped Create”

As it pertains to big media groups, Wall Street has been mixed on the dual strikes by actors and writers. Shuttered production led to significantly lower costs at companies in dire need of cash to pay down debt given ongoing losses in streaming. CEOs have had two sets of earnings calls with little pushback from investors last spring, and a bit more concern in August with the fall television season upended and movie release dates starting to shift.

 

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