Warner Bros Discovery (WBD.O) and Paramount Global (PARA.O) gained 3% each, Netflix (NFLX.O) rose marginally, while Walt Disney (DIS.N) jumped 4%, as it also benefited from strong earnings and a plan to cut more costs.
The writers, who had gone on strike before the actors in spring, returned to work in late September, but most productions remained halted as the actors were on picket lines.
"Its certainly a very encouraging sign the chasm that opened up between actors, writers and studios can finally be closed and work begin in earnest on re-starting productions," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.
Streeter warned that "it's going to take considerable time before new movies, in particular, will appear on screens given the lengthy post-production process."
Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Persons:
Alyssa Pointer, Walt Disney, Susannah Streeter, Hargreaves Lansdown, Streeter, Samrhitha, Shinjini
Organizations:
Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, Paramount Global, Netflix, SAG, Hargreaves, Thomson
Locations:
Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Hollywood, Bengaluru