Warner Bros. Discovery Expects $500M Earnings Hit, CEO Urges End to Strikes

Benzinga

Warner Bros. Discovery CEO David Zaslav said the writer's and actors' strikes need to end as the media industry is transitioning from streaming to traditional TV. Earlier this week, Warner Bros. Discovery revised its full-year guidance and expects earnings to take a hit of up to $500 million assuming the strikes last through year-end. Zaslav spoke at Goldman Sachs' Communacopia and Technology conference, saying the company needs to do everything it can to get people back to work as a content and storytelling company. The comments came a day after Warner Bros. Discovery alerted investors about the financial impact of the ongoing strikes by actors and writers' unions.

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00:00 It's Benzinga and here's what's on the block.

00:02 Warner Bros.

00:03 Discovery CEO David Zaslav said that writers and actor strikes need to end as the media

00:08 industry is in a transitional movement from streaming to traditional TV.

00:12 Earlier this week, Warner Bros.

00:14 Discovery revised its full year guidance and expects earnings to take a hit of up to $500

00:19 million, assuming the strikes last through the year end.

00:23 Zaslav spoke at Goldman Sachs, Communicopia and Technology Conference, saying that the

00:28 company needs to do everything it can to get people back to work as they are a content

00:32 and storytelling company.

00:33 The comments came a day after Warner Bros.

00:35 Discovery alerted investors about the financial impact of the ongoing strikes by actors and

00:40 writers' unions.

00:41 For all things money, visit Benzinga.com.

00:43 [BLANK_AUDIO]

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