Warner Bros. Discovery CEO David Zaslav says writers, actors strikes need to end as media industry is in a transitional moment

Warner Bros. Discovery CEO David Zaslav says media industry is in a transitional moment from streaming to traditional TV. Focus needs to be on ending writers and actors strikes.
Zaslav says people need to be fairly compensated. Industry needs to resolve strikes in a fair way.
Company has revised full-year outlook due to potential impact of strikes continuing through year-end. Now expects $300M-$500M hit to adjusted EBITDA.
Zaslav has been part of discussions with Writers Guild union on strike for 100+ days. Also in talks with actors union on strike since July.
Work stoppages have halted production, affecting companies like Warner Bros. Discovery with TV/movie studio and pay TV networks. Company remains focused on increasing free cash flow and paying down debt.

cnbc.com

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Posted 9/6/2023, 11:19:04 PM