Media Stocks Get Initial Boost as Hollywood Celebrates Tentative Deal to End Writers Strike
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variety.comBrent Lang Executive Editor Shares of major media companies fluctuated on news that studios and streamers have reached a tentative agreement with the writers’ union on a new contract, potentially ending a strike that started in May.
There are also hopes that a possible deal with the Writers Guild of America could set the stage for a similar pact with actors, who have been on the picket lines since July.
The dual strikes have brought production to a standstill and could mean that several high-profile movies and shows are delayed.
Warner Bros. Discovery saw its stock up nearly 2% in pre-market trading. However, it started Monday down roughly .70%, hovering around $11.
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