The Writers Guild of America (WGA) and the Screenwriters Guild of America (SAG-AFTRA) of the United States are still on strike, and Warner Bros. Discovery (WBD) anticipates that the studio could lose up to $500 million this year as a result, reports Deadline.
According to the article, WBD filed a statement with the U.S. Securities and Exchange Commission on September 5 stating that due to the actor and screenwriter strikes, the movie company expects adjusted EBITDA for the entire year of 2023 to fall between $10.5 billion and $11 billion. Losses from the protests and the studio’s decision to halt several film projects’ production are estimated to be between $300 million and $500 million.
At that, the company increased its forecast for free cash flow for the entire year to at least $5 billion, according to the statement.
source: deadline.com
