post_page_cover

Warner Bros. Execs Say Strikes Have Saved More Than $100 Million and David Zaslav Addresses Renegotiation Dates — GeekTyrant

Aug 22, 2023


Warner Bros. Discovery execs reported on Thursday during their Q2 earnings call that the SAG/AFTRA strike that has been ongoing over the summer has saved the company somewhere in the “low $100 million range.” Though negotiations have yet to resume between the unions and the studios, WBD says it is currently projecting an “early September” end to the strikes and return to TV and film production.CEO David Zaslav said on the call with analysts:“We’re in the business of storytelling. Our goal is to tell great stories, stories with the power to entertain and, when we’re at our best, inspire with stories that come to life on screens big and small. We cannot do any of that without the entirety of the creative community, the great creative community. Without the writers, directors, editors, producers, actors, the whole below-the-line crew. Our job is to enable and empower them to do their best work. We’re hopeful that all sides will get back to the negotiating room soon and that these strikes get resolved in a way that the writers and actors feel they are fairly compensated and their efforts and contributions are fully valued.”He went on to say:“It’s critically important that everybody, the writers, the directors, the actors and producers… everyone needs to be fairly compensated and they need to feel valued and feel that they’re fairly compensated in order to do their best work. And we have to focus on getting that done. I’m hopeful that it’s going to happen soon. I think all of us in this business are very keen to figure out a solution as quickly as possible. We are in some uncharted waters, in terms of the world as it is today and measuring it all. And so I think, in good faith, we all got to fight to get this resolved. And it needs to be resolved in a way that the creative community feels fairly compensated and fully valued.”Warner Bros. Discovery CFO Gunnar Wiedenfels stated:“While we are hoping for a fast resolution, our modeling assumes a return to work date in early September, should the strikes run through the end of the year, I would expect several $100 million upside to our free cash flow guidance and some incremental downside for adjusted EBITDA.”At least someone is making money during the strike, and it’s a good thing it’s these huge studios! Hopefully the negotiations go the way of the SAG-AFTRA and WGA unions, and the film and TV actors and writers can get back to work on their terms.

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by filmibee.
Publisher: Source link

YOU MIGHT ALSO LIKE
11 Celebs Who Removed Or Covered Lots Of Tattoos

He said, "I honestly never thought that I would get an opportunity to act, and I love it a lot. And it takes like three hours — you have to get there three hours earlier to cover all your tattoos…

Nov 1, 2024

Paris Hilton As Pal Britney Spears for Halloween Will Make You Shout

Oops… Paris Hilton did it again. The “Stars Are Blind” singer channeled Britney Spears’ iconic schoolgirl look from her 1998 music video for “...Baby One More Time” for Halloween, it marked the second year in a row Paris honored her…

Nov 1, 2024

Shawn Mendes Says He’s Figuring Out His Sexuality

“It always felt like such an intrusion on something very personal to me. Something that I was figuring out in myself, something that I had yet to discover and still have yet to discover it,” he shared.“The real truth about…

Oct 31, 2024

Cops Search for Stolen Cheddar Worth $390,000

Now this is one un-brie-lievable heist. Neal's Yard Dairy, an artisanal cheese company based in London, said they have suffered a "significant financial blow" after $390,000 worth of cheddar was stolen by a "fraudulent buyer posing as a legitimate wholesale…

Oct 31, 2024