CEO David Zaslav's Warner Bros. Discovery is expecting an earnings hit of $300M-$500M this year for not doing right by SAG-AFTRA & the WGA.
As the SAG-AFTRA and WGA strikes roll on and very little public negotiating movement going on with the AMPTP, we're entering a fall television & film season that's already beginning to show the impact of shuttered productions. And with eyes already looking to 2024, future prospects production-wise don't get much better from here on out. Earlier today, we got a better sense of just how much the strikes are impacting one of the biggest voices on the AMPTP's side.
5 to $11 billion, reflecting the company's assumption that adjusted EBITDA will be negatively impacted by approximately $300 to $500 million, predominantly due to the impact of theIf there's a silver lining that WBD could present to Wall Street, it's that the company's free cash flow expectations for the year have increased to $5B – with $1.7B in free cash flow expected in the Q3 of 2023 due toand strikes-related shutdowns.
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