Warner Bros. Discovery Says It Will Take $300 Million-$500 Million Hit in 2023 Earnings Due to Dual WGA/SAG-AFTRA Strikes
variety.comJennifer Maas TV Business Writer Warner Bros. Discovery expects the ongoing Hollywood strikes to have a $300 million-$500 million negative impact on the company’s 2023 earnings.
In an SEC filing Wednesday, the David Zaslav-led media giant stated it was expecting lower adjusted earnings for the full year between $10.5 billion-$11 billion, based on the projection that the continuing WGA and SAG-AFTRA work stoppages will mean a hit of $300 million to $500 million for the company. “While WBD is hopeful that these strikes will be resolved soon, it cannot predict when the strikes will ultimately end,” Warner Bros.
Discovery wrote. “With both guilds still on strike today, the Company now assumes the financial impact to WBD of these strikes will persist through the end of 2023.” More to come….
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