Warner to lose up to $500 million due to strikes by Hollywood writers and actors

MADRID, September 6 (CulturaOcio) –

The Writers Guild of America (WGA) and the Screen Actors Guild and the American Federation of Television and Radio Artists (SAG-AFTRA) are on strike. they paralyzed both the recording and promotion of projects, a halt that would no doubt have a huge economic impact on the industry. Warner Bros. Discovery releases casualty estimatenumber that can reach 500 million dollars.

In a statement to the Securities and Exchange Commission, Warner Bros. Discovery claims that lowered earnings expectations from $11 billion to $11.5 billion. up to a range of 10,500 to 11,000 million before interest, taxes, depreciation and amortization (EBITDA). The company predicts that in 2023 it may losses between $300 million and $500 million.

However, the company stated that “continues to prioritize and work diligently with other industry leaders to resolve ongoing strikes WGA and SAG-AFTRA in a fair manner and appreciates the important work and partnerships with writers and actors.” In addition, Warner Bros. Discovery added that it “hopes these strikes are resolved soon.”

Similarly, the cash flow of Warner Bros. Discovery will increase by $5 billion. “The company now expects free cash flow to top $1.7 billion by the third quarter of 2023, thanks in part to Barbie’s strong box office performance.“, he comments on the statement.

The strikes also affected the release schedule of Warner films. Dunes: Part 2 was supposed to be released in theaters on November 3, but in the end He will arrive on March 15, 2024. This is because the actors can’t promote during the strike, so the studio decided to delay the release in order for Timothée Chalamet, Zendaya, Florence Pugh, Austin Butler, Rebecca Ferguson, Dave Bautista, Javier Bardem, Stellan Skarsgård or Lea. Seydou may participate in promotional and press events in the future.

Source link

Leave a Comment