Warner Bros. Discovery reports that it expects up to $500 million in lost profits due to the Screen Actors Guild and the Federation of Television and Radio Artists (SAG-AFTRA) strikes. DEA News.
Former Paramount and 20th Century Fox executive Barry Diller said the US film industry would face “absolute collapse” if the writers’ union and Hollywood actors union’s strikes were not stopped before September 1.
In a report to the U.S. Securities and Exchange Commission (SEC), the company said the attacks were Warner Bros. It is expected to have a financial impact on Discovery will stay until the end of the year.
“The adjusted indicator (earnings before interest, taxes, depreciation and amortization. – socialbites.ca) will have a negative impact on EBITDA of about $300-500 million,” the report states.
It was noted that the company management hoped that the strikes would end, but it was not possible to predict exactly when that would happen.
Prior to this the Financial Times WroteHe said that the damage done to the California economy during the four-month strikes of the screenwriters amounted to almost $5 billion.
Was formerly “Barbie” highest grossing Global publication of Warner Bros.