Canyon Crest Guide Newspaper Ads Canyon Crest CA

Warner Bros. Discovery is starting to tabulate its strike pain.

The television and movie company said in a Tuesday regulatory filing that its expected profits for the year would probably be $300 million to $500 million lower than previously expected, “predominately due to the impact of the strikes.”

Warner Bros. Discovery said it now expects full-year earnings, excluding certain items, to be about $10.5 billion to $11 billion.

Newspaper Ads Canyon Crest CACanyon Crest Guide Newspaper Ad

The company has been among those hardest hit by the labor actions. Its scripted television production has been idled and the Burbank-based Warner Bros. studio has moved the release of its highly anticipated sequel “Dune: Part Two” to next year. The company wanted to release the film in November.

Television and movie production largely shut down in May after the Writers Guild of America walked off the job. The performers’ guild, SAG-AFTRA, followed the writers in mid-July after a collapse in its talks with the Alliance of Motion Picture and Television Producers, which includes Warner Bros. Discovery, Netflix and Walt Disney Co.

Talks to resolve the twin strikes have been arduous, with little movement on key issues, including the size of writers’ rooms and a residual based on viewership for streaming shows.

Earlier this summer, Warner Bros. Discovery executives told investors their financial models were based on the strikes being resolved by mid-September. That now seems unlikely, so the company provided the update on Tuesday.

“The company now assumes the financial impact to WBD of these strikes will persist through the end of 2023,” the company said in the filing.

The Warner Bros. studio scored the biggest box office hit of the summer with “Barbie,” which has generated nearly $1.4 billion in global box office receipts since its July debut, according to Box Office Mojo. The Greta Gerwig-directed movie, produced in conjunction with Mattel, is expected to help boost Warner Bros. Discovery’s third-quarter free cash flow to more than $1.7 billion, the filing said.

The company said it expects free cash flow for the year to be at least $5 billion. Improving cash flow is an important goal for the firm as it looks to pay off its hefty debt load.

Warner Bros. Discovery Chief Executive David Zaslav took heat from writers when, during an appearance on CNBC in May, he said the strikes would be resolved and writers would return to work because of “a love for the business and the love for working.”

That was nearly four months ago.

Warner Bros. Studio water tower.

Warner Bros. Studio lot in Burbank.

(Dania Maxwell / Los Angeles Times)

Hollywood entertainment leaders had been pushing to end the strikes by Labor Day, but the Writers Guild of America dismissed the company’s Aug. 11 offer as ““neither nothing, nor nearly enough.” The WGA said it made a counterproposal on Aug. 15. There’s been little progress since.

“WBD continues to prioritize and work diligently with other industry leadership to resolve the current WGA and SAG-AFTRA strikes in a manner that is fair and values the important work of, and partnership with, the writers and actors,” the company said in Tuesday’s filing.

Producers have been eager to restart production. Executives worry that six more weeks of strikes could obliterate the entire television season and jeopardize next summer’s movie releases. There is a sense that there won’t be any production for the rest of this year unless the companies and the guilds resolve the strikes by October, according to several knowledgeable insiders.

Warner Bros. Discovery’s filing shows that some executives recognize the strikes already will weigh heavily on their fourth-quarter numbers.

Warner Bros. Discovery shares rose about 3% to $11.86 in midday trading. The stock is down nearly 20% in the last six months.

Source link

Reach Out

Don’t hesitate to reach out to us to discuss your specific needs. Our team is ready and eager to provide you with tailored solutions that align with your firm’s goals and enhance your digital marketing efforts. We look forward to helping you grow your law practice online.

Our Services:
Blog Post Writing
We do well-researched, timely, and engaging blog posts that resonate with your clientele, positioning you as a thought leader in your domain.

Content Writing
Beyond articles and content for blogs, we delve into comprehensive content pieces like eBooks, and case studies, tailored to showcase your expertise.
Website Content Writing: First impressions matter. Our content ensures your website reflects the professionalism, dedication, and expertise you bring to the table.

Social Media Management
In today’s interconnected world, your online presence extends to social platforms. We help you navigate this terrain, ensuring your voice is consistently represented and heard.

WordPress Website Maintenance
Your digital office should be as polished and functional as your physical one. We ensure your WordPress site remains updated, secure, and user-friendly.
For more information, ad placements in our attorney blog network, article requests, social media management, or listings on our top 10 attorney sites, reach out to us at

Warm regards,

Canyon Crest Guide Newspaper

California Estate Planning
Tiny House For Sale
Canyon Crest Guide Newspaper Ads Canyon Crest CA
Whether you're a startup or an established brand, business directories offer an affordable, yet powerful tool to elevate your brand recognition and reach. Sign up, stand out, and let your business soar to new heights, sign up to one of our directory websites:

Canyon Crest Directory
Riverside Ca Business Directory
The Riverside Coupon Directory
Content Writing Service

Newspaper Ads Canyon Crest CA

Click To See Full Page Ads

Click To See Half Page Ads

Click To See Quarter Page Ads

Click To See Business Card Size Ads

If you have questions before you order, give me a call @ 951-235-3518

or email @

Like us on Facebook Here
Canyon Crest Guide
5225 Canyon Crest Drive Ste.71 #854 Riverside CA 92507
Tony Ramos 951-235-3518
For great backlinks to your website sign up to one of our directory websites:
Canyon Crest Directory
Riverside Ca Business Directory
The Riverside Coupon Directory
Previous articleAdvice to survive online job-hunting: Think dating apps
Next articleO.C. nonprofit ordered to stop feeding homeless gains DOJ support
Article Content Writer We write content articles for all businesses. We produce content that can include blog posts,website articles, landing pages, social media posts, and more. Reach out for more information to, "Best to You" Tony.


Please enter your comment!
Please enter your name here