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

Warner Bros. Discovery expects a financial impact of $300 million to $500 million due to ongoing writers' and actors' strikes, assuming the strikes will continue through the end of the year.

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9/5/2023

Warner Bros. Discovery Says Ongoing Strikes Will Mean $300M-$500M Hit to 2023 Earnings

Warner Bros. Discovery has lowered its 2023 adjusted EBITDA forecast due to strikes, with a hit of $300 million-$500 million, and now expects the strikes to persist through the end of 2023.

9/5/2023

To Save $50 Million, Warner Bros. Will Lose $300 to $500M to the Strike

The ongoing dual strike by the Writers Guild of America and SAG-AFTRA could cost Warner Bros. up to $500 million this year, prompting major production delays and a potential lackluster film and television schedule if fair wages are not paid to writers and actors.

9/5/2023

Warner Bros. Files Adjusted Earnings Report Due to Strikes

Warner Bros. is expected to lose nearly half a billion dollars in quarter three due to ongoing strikes, according to a document filed with the Securities and Exchanges Commission.

9/6/2023

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 emphasizes the need to end the writers and actors strikes in order to get people back to work and ensure fair compensation, as the company revises its full-year outlook due to the strikes' impact.

9/6/2023

David Zaslav Says Charter-Disney Fight Feels Like “A Moment” As WBD CEO Talks Carriage Deals, CNN & Hollywood Strikes

Warner Bros. Discovery CEO David Zaslav believes that the current dispute between Charter and Disney could be a significant moment for the industry, as Charter seeks to pay less for Disney content and restructure agreements with all programming providers as contracts expire. Zaslav is focused on preparing for a linear meltdown and restructuring the company for the streaming era, with plans to relaunch Max, add live CNN news, and eventually include live sports. The ongoing Hollywood strikes have impacted the company's financial estimates, with a profit hit of up to $500 million but increased free cash flow expected.

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Posted 9/5/2023, 12:57:36 PM

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

Warner Bros. Discovery expects a financial impact of $300 million to $500 million due to ongoing writers' and actors' strikes, assuming the strikes will continue through the end of the year.

cnbc.com

Relevant topic timeline:

9/5/2023

Warner Bros. Discovery Says Ongoing Strikes Will Mean $300M-$500M Hit to 2023 Earnings

Warner Bros. Discovery has lowered its 2023 adjusted EBITDA forecast due to strikes, with a hit of $300 million-$500 million, and now expects the strikes to persist through the end of 2023.

9/5/2023

To Save $50 Million, Warner Bros. Will Lose $300 to $500M to the Strike

9/5/2023

Warner Bros. Files Adjusted Earnings Report Due to Strikes

Warner Bros. is expected to lose nearly half a billion dollars in quarter three due to ongoing strikes, according to a document filed with the Securities and Exchanges Commission.

9/6/2023

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

9/6/2023

David Zaslav Says Charter-Disney Fight Feels Like “A Moment” As WBD CEO Talks Carriage Deals, CNN & Hollywood Strikes