Warner Bros. Discovery says actors and writers strikes will cost it up to $500 million this year

By Chris Isidore, CNN

New York (CNN) — Warner Bros. Discovery trimmed its full-year earnings guidance for 2023 on Tuesday by $300 million to $500 million because of the continued strike by actors and writers, which has stopped production of most shows and movies.

The corporate parent of CNN had previously told investors that it expected the strike to be over by early September. But WBD now says it cannot predict when the strike will ultimately end, and it assumes the impact will continue through the rest of this year.

This is a breaking story. It will be updated

The-CNN-Wire
™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.