Warner Bros. Discovery is revising its profit expectations for the year due to the ongoing Hollywood writers’ and actors’ strike, estimating costs of up to US$500 million.
The U.S. film and television industries continue to be impacted by the strikes, which started in May for writers and in July for actors.
Warner Bros. Discovery, the owner of HBO, Max, CNN, TNT, and other entertainment outlets including DC Comics, acknowledged the financial impact of the strikes and reduced its adjusted earnings before interest, taxes, depreciation, and amortization for 2023 from a range of US$11 billion to $11.5 billion to a range of US$10.5 billion to US$11 billion.
