Breakthrough In Hollywood: Writers, Producers Close To Ending 100-Day Strike
Portfolio Pulse from Anusuya Lahiri
Hollywood writers and producers are close to ending a 100-day strike, which has caused a standstill in TV and movie production. Paramount Global (PARA) and Warner Bros. Discovery (WBD) stocks are trading higher amid these reports. The strike has affected media companies' efforts to make streaming profitable and revitalize theater attendance. Warner Bros. Discovery adjusted its earnings expectations due to the strikes, anticipating an impact of $300 million to $500 million on adjusted EBITDA.
September 21, 2023 | 12:04 pm
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Paramount Global's stock is trading higher amid reports of the Hollywood strike nearing its end.
The resolution of the strike will likely allow Paramount Global to resume normal operations, which could boost investor confidence and drive the stock price up.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Warner Bros. Discovery's stock is trading higher amid reports of the Hollywood strike nearing its end. The company had adjusted its earnings expectations due to the strikes, anticipating an impact of $300 million to $500 million on adjusted EBITDA.
The resolution of the strike will likely allow Warner Bros. Discovery to resume normal operations and potentially recover from the anticipated impact on its earnings, which could boost investor confidence and drive the stock price up.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90