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.
“WBD is hopeful that these strikes will be resolved soon,” said a filing the company made with the Securities and Exchange Commission with its new guidance early Tuesday.
Dispatches From The Front 