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☆ Will 2024 bring good tidings to media and telecom companies? That's unlikely
▼ + stars: | 2023-12-19 | by ( Alex Sherman | ) www.cnbc.com time to read: +10 min

Still, legacy media companies including Disney, Paramount Global, Warner Bros. Since the "Great Netflix Correction" of 2022, there isn't a unifying growth narrative for media and entertainment companies. Disney, Paramount Global and NBCUniversal have all pegged 2025 as their flagship streaming services' first full year of profitability. Beyond financial metrics, several executives privately acknowledged morale has become an increasing concern at legacy media companies. One executive noted he's increasingly hearing from peers that running media and entertainment companies just isn't as fun as it was five or 10 years ago.

Persons: Corey Martin, Granderson Des Rochers, Martin, Jerome Powell, Liu Jie, Shari Redstone, David A, CNBC Shari Redstone, Biden, Sinclair, Lina Khan, Joe Biden, Khan, There's, John Harrison, Brian Roberts, Drew Angerer, Donald Trump, Trump, David Zaslav, Michael M, Disney, Nelson Peltz, Jay Rasulo, Bob Iger, he's, LightShed's Rich Greenfield Organizations: Universal Studios, Warner Bros . Discovery, Disney, Paramount Global, Comcast, Granderson, U.S, Federal, Washington , D.C, Xinhua News Agency, Getty, Treasury, Federal Reserve, Allen, Co . Media, Technology Conference, Grogan, CNBC, Trump, Nexstar, Gray Television, Federal Trade, Verizon, Mobile, NBCUniversal, CBS, NBC, EY, Allen & Company Sun Valley Conference, Trump's Department, Justice, Time Warner, Republican, Democratic, Netflix, Cable, Warner Bros, New York Times, Santiago, Getty Images Media, Management, Paramount Locations: Washington ,, United States, Sun Valley , Idaho, Tegna, Europe, U.S, EY Americas, New York City

☆ David Zaslav Defends Unpopular Decisions at Warner Bros. Discovery
▼ + stars: | 2023-11-29 | by ( The New York Times | ) www.nytimes.com time to read: +1 min

And I want to know what that’s like in your head because you’ve had to make decisions that have been very unpopular? But I’m in, I’m in the seat. Let’s start today. What does this business look like if we were going to start today? You know who your friends are, and you’re also friendly with a lot of people, but you can’t mix the two.

Persons: you’ve, It’s, —, it’s, you’re, ” Locations: Hollywood, I’m

☆ JPMorgan CEO Jamie Dimon to business leaders: 'Help Nikki Haley'
▼ + stars: | 2023-11-29 | by ( Brian Schwartz | ) www.cnbc.com time to read: +1 min

JPMorgan CEO Jamie Dimon has a message for some of the world's wealthiest corporate leaders: help Nikki Haley's presidential campaign. "Even if you're a very liberal Democrat, I urge you, help Nikki Haley, too. Billionaire Tesla CEO Elon Musk, media titan David Zaslav and Disney CEO Bob Iger were all scheduled to speak later in the day. Haley earlier this month told CNBC's "Squawk Box" that she and Dimon spoke by phone recently about the state of the economy. At the DealBook conference, Dimon stopped short of saying the Republican presidential nominee should be anyone but Trump.

Persons: Jamie Dimon, Nikki Haley's, Nikki Haley, Donald, Trump, Dimon, Dimon's, Bill Ackman, Tesla, Elon Musk, David Zaslav, Bob Iger, Haley, Charles Koch, CNBC's Organizations: Democrat, Republican, The New York Times, Wall Street titans, Disney, Democrats, Forbes Locations: South Carolina, Dimon

The lineup for DealBook Summit 2023On Wednesday, DealBook will be live and in person at our annual summit in New York. The DealBook team and reporters from The Times will be reporting live from the conference. Even if you are not with us, you can follow along here beginning at 8:30 a.m. Eastern. Here are the speakers:Vice President Kamala HarrisElon Musk , the chairman and C.E.O. Is this a technology that will unleash a new wave of productivity, or is it a force that could do irreparable harm?

Persons: DealBook, Andrew, Kamala Harris Elon Musk, Tesla, X Tsai Ing, Taiwan Lina Khan, Jamie Dimon, JPMorgan Chase Bob Iger, Kevin McCarthy, California Jensen Huang, Nvidia David Zaslav, Jay Monahan Organizations: DealBook, The, SpaceX, Federal Trade, JPMorgan, Disney, Republican, Nvidia, Warner Bros, White House Locations: New York, Taiwan, California, Israel, China, U.S, Beijing, Washington

This year’s DealBook Summit will include conversations with global leaders and powerful figures from Wall Street, Silicon Valley and Hollywood. Jamie Dimon has been the chief executive of JPMorgan Chase since 2006 and its chairman since 2007, making him one of Wall Street’s longest-serving banking leaders. Bob Iger returned as Disney’s chief executive last year, after stepping down from the role in 2020. David Zaslav orchestrated Discovery’s takeover of WarnerMedia and became the chief executive of the new company, Warner Bros. The transaction helped transform his modest cable television company into an empire that includes the Warner Bros. movie and TV studios, HBO and CNN.

Persons: Andrew Ross Sorkin, Kamala Harris, Ms, Harris, Biden’s, Tsai Ing, Tsai, Elon Musk, Musk, Jamie Dimon, Jensen Huang, chipmaker, Bob Iger, Long, Iger, Lina Khan, Khan, ”, David Zaslav, Jay Monahan, LIV Golf, Monahan, Kevin McCarthy, Mr, McCarthy, Shonda Rhimes, Rhimes Organizations: Wall, Israel, Elon, SpaceX, JPMorgan Chase, First, Nvidia, Fox, Marvel, Pixar, Hollywood, ESPN, Federal Trade Commission, Columbia Law, WarnerMedia, Warner Bros, HBO, CNN, Republican, Republican Party, Shondaland, Netflix Locations: Silicon Valley, Hollywood, United States, California, San Francisco, Gaza, Taiwan, China, First Republic, Saudi

☆ Warner Bros Discovery boss’s payday is toast
▼ + stars: | 2023-11-27 | by ( Jennifer Saba | ) www.reuters.com time to read: +4 min

The Warner Bros Discovery (WBD.O) chief executive will have to more than double the value of the media company if he wants to collect a lavish $200 million compensation package awarded when Discovery agreed to merge with Warner Media in 2021. The news sent shares plunging 19%, the largest one-day drop since Discovery merged with Warner Media. Its current value is over $18 billion when applying Bernstein’s multiple of 8 times EBITDA. At the end of September, the company had net leverage – after deducting $2.4 billion cash – of 4.2 times EBITDA. Shares of Warner Bros Discovery fell 19% on that day.

Persons: David Zaslav, He’s, Harry Potter, Jefferies, Max, “ Barbie ”, Zaslav, David, Peter Thal Larsen, Sharon Lam Organizations: Reuters, Warner Bros Discovery, Discovery, Warner Media, HBO, CNN, Food Network, TBS, LSEG, Netflix, Reuters Graphics Reuters, HGTV, Thomson Locations: EBITDA

Mr. Zaslav, who took over Warner Bros. But the tumultuous personnel changes at CNN under Mr. Zaslav’s leadership make clear that a Zaslav friendship, no matter how deep or longstanding, has its limits. Jeff Zucker, replaced as CNN’s chief executive by Mr. Licht, frequently described himself as Mr. Zaslav’s best friend. Don Lemon, the longtime host, socialized with Mr. Zaslav in New York and the Hamptons. CNN ousted Mr.

Persons: Chris Licht, David Zaslav, Zaslav, Zaslav’s, Jeff Zucker, . Licht, Don Lemon, Lemon Organizations: CNN, Warner Bros, Discovery, Hamptons Locations: New York

Killing an all-but-completed movie would alienate the people Zaslav — or at least Hollywood — needed most: the people who made the movies. Under fire, Zaslav defended the decision in an earnings call with analysts, saying he shelved “Batgirl” to protect the DC brand. More quietly, Zaslav also sought cover in the authority of Bryan Lourd, the powerful co-chairman of Creative Artists Agency and a leading arbiter of Hollywood mores. As Zaslav told it to several associates, Lourd had supported the decision, observing that it wasn’t in the interest of C.A.A. “We have made unpopular decisions because they were necessary.”Hollywood was in trouble before David Zaslav came to town.

Persons: Zaslav, Wiedenfels, Batgirl ”, Michael Keaton, ”, Adil El Arbi, Bilall Fallah, Walter Hamada, Courtenay Valenti, Bryan Lourd, Lourd, Leslie Grace, “ Bryan Lourd, ’ ”, David Zaslav, “ Organizations: DC Comics, Hollywood, DC, Warner Brothers, Creative Artists Agency, Discovery, McKinsey, W.B.D Locations: Scotland, New York, Hollywood, W.B.D

☆ The streaming wars continue to heat up, and here's why Warren Buffett thinks it's a tough industry
▼ + stars: | 2023-11-12 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The race for eyeballs continues to intensify in the streaming industry, and according to Warren Buffett it's a particularly tough area for investors to make money. Buffett, the "Oracle of Omaha," believes that the industry has too many players seeking viewer dollars, causing a stiff price war. Discovery earlier this week reported a decline in advertising revenue, a wider-than-expected loss and lackluster streaming subscriber numbers. "You don't lock in people when you get them to join up for the streaming period when your serial runs," Buffett said. Buffett said the price war going on among streamers was similar to the one he experienced in his early 20s at his local gasoline station.

Persons: Warren Buffett, Buffett, You've, David Zaslav, it's Organizations: Warner Bros, Berkshire, Paramount, Netflix Locations: Omaha, Berkshire

NEW YORK (AP) — Hollywood’s months of labor unrest are coming to an end, but the post-strike landscape that awaits actors and writers may be far from happy-ever-after. That helter-skelter transition threw much of the economics of entertainment out of whack. “Going through that with a streaming service that’s losing billions of dollars is really, really difficult to go on offense.”Cancellations have grown more commonplace as streamers get more selective. Due in part to the strikes, series production will dip for the first time in years in 2023 after reaching an all-time high last year, when 599 original series were made. “And so I think really we will see over the coming days, weeks and months what the industry’s real intentions are.

Persons: —, HBO Max, Max ”, ”, Jonathan Taplin, Crypto, Taplin, Puck’s Matt Belloni, Walt, Bob Iger, ” Iger, I’ve, it’s, Peacock, David Zaslav, Max, ” Zaslav, “, Martin Scorsese’s, Ridley Scott’s “ Napoleon, ” Duncan Crabtree, Krysta Fauria Organizations: Hollywood, SAG, HBO, Netflix, USC, Innovation Lab, International Alliance, Walt Disney Co, Disney, Comcast, Warner Bros . Discovery, Apple Studios, Associated Press Locations: Hollywood, Los Angeles

☆ Hollywood actors' strike is set to end Thursday after SAG-AFTRA reached a tentative agreement with major studios
▼ + stars: | 2023-11-09 | by ( Alison Brower | Reed Alexander | ) www.businessinsider.com time to read: +5 min

SAG-AFTRA has reached a tentative agreement to end its strike against the Hollywood studios. The strike lasted 118 days, and, along with the Hollywood writers' strike, halted most film and TV production. AdvertisementAdvertisementThe actors' union, SAG-AFTRA, announced Wednesday evening that it had secured a tentative deal with Hollywood studios to end a strike of nearly four months, a spokesperson for the guild confirmed to Insider. The guild's national board will review the tentative deal on Friday, November 10, after which the union said "further details" would be released. While 2023 has seen some box office highs, most notably the summer's Barbenheimer phenomenon, movie theaters, and Hollywood studios are still struggling to recover from the pandemic drop in theatergoing.

Persons: AFTRA, —, Netflix —, Bob Iger, Donna Langley, Ted Sarandos, David Zaslav, Debra Messing, Pedro Pascal — Organizations: Hollywood, Service, SAG, Alliance, Television Producers, Writers Guild of America, Warner Bros, Disney, Netflix, Discovery, WGA, Apple, Paramount, Sony, Writers Locations: California, Hollywood, —

☆ What's Warner Bros. Discovery's next move? David Zaslav and John Malone offer clues
▼ + stars: | 2023-11-09 | by ( Alex Sherman | ) www.cnbc.com time to read: +7 min

In this article WBDPARA Follow your favorite stocks CREATE FREE ACCOUNTDavid Zaslav, CEO and president of Warner Bros. Media company valuations have been plummeting amid streaming video losses, traditional TV subscriber defections, and a down advertising market. Warner Bros. Warner Bros. Warner Bros.

Persons: David Zaslav, John Malone, Malone, David Faber, Zaslav, Faber, Bob Bakish, Simon & Schuster, Shari Redstone, David A, Peacock, Brian, Roberts, Puck's Dylan Byers, Warner Organizations: Warner Bros ., Liberty Media, Liberty Global, Qurate Retail Group, CNBC, Reuters Warner Bros, Media, Warner Bros, Discovery, Sirius XM, Sirius, Paramount Global, Paramount, Viacom, CBS, Allen, Co . Media, Technology Conference, Grogan, CNBC Paramount Global, Comcast, U.S, NBC Locations: U.S, Sun Valley , Idaho

☆ The deal to end the historic actors’ strike came down to the wire, averting ‘a huge financial blow to everybody’
▼ + stars: | 2023-11-09 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

Then, suddenly, with only minutes to go until the cutoff, the studio bosses got their answer: SAG-AFTRA, the union that represents the 160,000-some actors, had accepted the deal. Relief among the big four studio chiefs, made up of Disney’s Bob Iger, Warner Bros. Discovery’s David Zaslav, Netflix’s Ted Sarandos, and NBCU’s Donna Langley. Relief among the actors, who will finally get back to work. And relief among the other unions and workers who rely on the hum of the Hollywood machine to make ends meet. To get television shows back in January and keep film schedules to where they are, studios will need to quickly restart production.

Persons: Bob Iger, Discovery’s David Zaslav, Ted Sarandos, Donna Langley, “, AFTRA, ” Sarandos, Zaslav Organizations: CNN, Hollywood, Warner Bros, Donna Langley . Relief, SAG Locations: Tinseltown

☆ Warner Bros Discovery beats quarterly profit estimates amid strike, sluggish ad market
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Discovery Atlanta campus is pictured after the Writers Guild of America began their strike against the Alliance of Motion Pictures and Television Producers, in Atlanta, Georgia, U.S. May 2, 2023. The media company forged by the union of WarnerMedia and Discovery posted adjusted core earnings of $2.97 billion, above estimates of $2.92 billion, as per LSEG data. The company had 95.1 million global direct-to-consumer customers at the end of the quarter, down from 95.8 million in the previous quarter. In May, it launched its Max streaming service - combining HBO Max's scripted entertainment with Discovery's reality shows. Reporting by Samrhitha Arunasalam in Bengaluru and Helen Coster in New York; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

Persons: Alyssa Pointer, David Zaslav, Samrhitha, Helen Coster, Saumyadeb Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, SAG, HBO, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru, New York

☆ Warner Bros. Discovery stock sinks 15% as ad revenue falls, Zaslav warns of 'generational disruption'
▼ + stars: | 2023-11-08 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Discovery shares fell Wednesday after the company reported a decline in advertising revenue, a bigger-than-expected loss and lackluster streaming subscriber numbers. Discovery reported a net loss of $417 million for the third quarter, or 17 cents per share, an improvement from the $2.31 billion loss the company reported in the year-ago quarter, or 95 cents per share. Ad revenue in Warner Bros. The company reported 95.1 million global direct-to-consumer subscribers, a 700,000 decrease from the previous quarter, and less than the analyst projection of 95.4 million subscribers, according to StreetAccount. Discovery also made headway on paying off its debt load, with $2.4 billion of repayments made during the quarter, the company said.

Persons: David Zaslav, Max, Gunnar Wiedenfels Organizations: Warner Bros, Discovery, Roku, Paramount, Disney, Warner Bros . Discovery, HBO Max Locations: U.S

☆ ‘Barbie’ brought in $1.5 billion for Warner Bros. Discovery, but the company still lost money last quarter
▼ + stars: | 2023-11-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Blockbuster hit “Barbie” brought in a record $1.5 billion for Warner Bros. Discovery, but the company still reported a $417 million loss for the quarter that was bigger than Wall Street’s forecasts. The company, however, reported a narrow profit when taking into account adjustments for certain items, including interest, taxes, depreciation and amortization. Discovery, the parent company of CNN, needed the revenue boost from “Barbie” to achieve a narrow 2% increase in sales. The company reported that adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 22% to just under $3 billion.

Persons: Barbie ”, Gunnar Wiedenfels, David Zaslav, ”, “, “ Barbie, WBD, EBITDA Organizations: New, New York CNN, Blockbuster, Warner Bros, CNN, Writers Guild of America, SAG, Netflix, Apple Locations: New York

☆ Does the Boss Need to Weigh In on the War in the Middle East?
▼ + stars: | 2023-11-08 | by ( Emma Goldberg | More About Emma Goldberg | ) www.nytimes.com time to read: +5 min

But as an American business leader condemning Hamas’s attacks, he said, he felt surprisingly lonely. “I was disappointed that fewer leaders than I anticipated spoke out emphatically, clearly and with moral clarity on this issue,” Mr. Karp said. Some business leaders made donations to humanitarian organizations and pointed their employees to company-sponsored mental health resources. “No company does business in Gaza — as opposed to, say, in Russia, where there are 1,500 major companies doing business,” he said, comparing this war with the Russian invasion of Ukraine. “The dynamics in the Middle East have always been difficult and complex,” he wrote.

Persons: Brad Karp, Paul, Weiss, Roe, Wade, George Floyd, ” Mr, Karp, ’ ”, Iliya Rybchin, Jeffrey Sonnenfeld, Sonnenfeld, “, ”, Joelle Emerson, Andrew Ward, Gabe Zichermann, Bud Light, David Solomon, Goldman Sachs, David Zaslav, ” David Barrett, We’re, Barrett Organizations: ” Company, Hamas, Fortune, Yale School of Management, Lehigh University’s College of Business, Warner Bros, ” JPMorgan Locations: Israel, American, Gaza, Russia, Ukraine, Tel Aviv

The company reported free cash flow of $2.06 billion, compared with $1.72 billion in the prior quarter. The company posted a net loss of $417 million, narrowing from a $2.3 billion net loss from a year-ago period. Advertising revenue at its networks segment declined 12% to $1.71 billion as global conflicts and inflation created an uncertain climate for marketers. The company's streaming unit posted an adjusted core profit of $111 million, compared with a loss of $634 million a year ago. Warner Bros Discovery had 95.1 million global direct-to-consumer customers at the end of the quarter, down from 95.8 million in the previous quarter.

Persons: Mario Anzuoni, Gunnar Wiedenfels, there's, Wiedenfels, David Zaslav, Michael Schulman, Barbie, Thomas Hayes, Samrhitha, Helen Coster, Saumyadeb Chakrabarty, Anil D'Silva, Mark Porter Organizations: Paramount Pictures Studios, REUTERS, Warner Bros Discovery, SAG, Running, HBO, Thomson Locations: Los Angeles , California, U.S, Bengaluru, New York

☆ Warner Bros. Discovery plunges 16% as CEO warns of 'generational disruption' to media
▼ + stars: | 2023-11-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Warner Bros. The media company reported a decline in ad revenue during the third quarter. AdvertisementAdvertisementShares of Warner Bros. Warner Bros. This was reflected in Warner Bros. results, with the company reporting that it saw a decline of 12% in ad spending among its TV networks.

Persons: David Zaslav, —, Zaslav, Gunnar Wiedenfels, Wiedenfels Organizations: Warner Bros, Service, Discovery, Wall, Bloomberg, WGA, SAG, HBO Max, Investors, Disney

☆ Striking actors are reviewing Hollywood and TV studios’ ‘best and final offer’
▼ + stars: | 2023-11-04 | by ( Manav Tanneeru | David Goldman | ) edition.cnn.com time to read: +3 min

New York CNN —A deal to resolve film and television actors’ 113-day strike could be imminent, as the union representing them said it is reviewing Hollywood and TV studios’ final offer. The negotiating committee for the SAG-AFTRA union on Saturday said it received a “last, best and final offer” from the Alliance of Motion Picture and Television Producers, whose members include Disney, Netflix, NBCUniversal, and Warner Bros. Warner Bros. Both the actors and writers fought for updated deals that better paid them for shows and movies on streaming services. Disney’s Bob Iger, Warner Bros. Discovery’s David Zaslav, Netflix’s Ted Sarandos, and NBC Universal’s Donna Langley have been directly involved in negotiations.

Persons: ’, It’s, George Clooney, Tyler Perry, Bob Iger, Discovery’s David Zaslav, Ted Sarandos, Donna Langley Organizations: New, New York CNN, Hollywood, SAG, Alliance, Television Producers, Disney, Netflix, Warner Bros . Discovery, Warner Bros, CNN, NBC Locations: New York

☆ SAG-AFTRA strike: Hollywood actors and major studios make progress in talks, signaling possible deal on horizon
▼ + stars: | 2023-10-30 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

CNN —It appears the actors’ strike is approaching its final scene. That progress has led to hopes that an agreement could be reached as early as this week or next week, the people said. One such issue, the use of artificial intelligence, has proved to be a sticking point between the writers and studios and required careful examination. SAG-AFTRA told its members early Monday that over the weekend it had “discussed all open proposals,” including A.I., with the studios. That would mean actors, crews, and much of the Hollywood industry would have to endure the holiday season out of work.

Persons: Duncan Crabtree, —, Bob Iger, Discovery’s David Zaslav, Ted Sarandos, Donna Langley —, AFTRA, Hollywood, “, ” Crabtree, Variety, we’re, ” Organizations: CNN, Hollywood, SAG, Warner Bros, NBC, Sherman

☆ Actors and Hollywood Studios to Restart Negotiations
▼ + stars: | 2023-10-21 | by ( Nicole Sperling | More About Nicole Sperling | ) www.nytimes.com time to read: +1 min

The major entertainment studios and the union representing tens of thousands of striking actors will return to the negotiating table on Tuesday, less than two weeks after talks were suspended because the sides remained far apart on significant issues. The restart of negotiations was announced in a joint statement on Saturday from the Alliance of Motion Picture and Television Producers, which bargains on behalf of the studios, and SAG-AFTRA, the actors’ union. On Oct. 9, the Writers Guild of America ratified its new contract and there had been hope that a new deal with the actors would follow. The strikes have been devastating financially for many, both within and outside the industry. But an agreement with the actors would mean getting back to work without losing the entirety of the fall television schedule or having next summer’s moviegoing season upended.

Persons: —, Donna Langley, Ted Sarandos, Robert A, David Zaslav — Organizations: Alliance, Television Producers, SAG, Netflix, Walt Disney Company, Warner Bros, Writers Guild of America Locations: California

Worries are growing about how much the turmoil could cost the global economy. Brent crude, the global oil benchmark, hit a three-week high this on Fridayfears that a military escalation could disrupt already tight supplies. In a speech largely focused on inflation, interest rates and economic growth, Jay Powell, the central bank’s chair, warned on Thursday that “geopolitical tensions are highly elevated and pose important risks to global economic activity.”The Middle East is becoming a wild card for the global economy. That would probably sap growth but might also slow the economy enough to negate the need for an additional interest-rate increase. The measures were announced days after the U.S. imposed tighter restrictions on sales of more advanced semiconductors to China.

Persons: Biden, —, Brent, Jay Powell, Powell, ” Powell, Kamala Harris, Jay Monahan, David Zaslav, Jim Jordan, Patrick McHenry, Jordan, there’s, Fran Drescher, George Clooney, ” Drescher, Sidney Powell, Donald Trump’s Organizations: Gaza, Israel, U.S . Navy, Intel, Siemens, European Commission, Digital Services, PGA, Warner Bros, Hollywood, SAG, Trump Locations: Mideast, Israel, Ukraine, Lebanon, U.S, Iran, Yemen, Syria, Iraq, Lisbon, Ohio, Trump . China, Beijing, China

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line outside Disney Studios in Burbank, California, U.S., July 25, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSept 25 (Reuters) - Big media companies gave up early share gains from hopes of an end to screenwriters' strike on Monday as focus shifted to an ongoing strike by actors, whose resolution is crucial for a full return to work in Hollywood. But a strike by a larger guild of actors is still on. Nearly 160,000 film and television actors, stunt performers and other media professionals walked off the job in July, demanding higher wages and protection against artificial intelligence use. Its shares have dropped nearly 14% since the writers' strike started on May 2, while Paramount, Disney and Netflix have lost between 20% and 45%.

Persons: Mike Blake, Walt Disney, Susannah Streeter, Hargreaves Lansdown, WBD, David Zaslav, Rosenblatt, Barton Crockett, Yuvraj Malik, Zaheer Kachwala, Arun Koyyur Organizations: Writers Guild of America, Disney Studios, REUTERS, Big, Warner Bros Discovery, Paramount Global, Hargreaves, Paramount, Disney, Netflix, Media, Thomson Locations: Burbank , California, U.S, Hollywood, Bengaluru

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line outside Disney Studios in Burbank, California, U.S., July 25, 2023. The union representing roughly 11,500 film and television writers and the group that represents the studios and streaming companies announced the preliminary agreement on Sunday. The three-year deal, whose details were not disclosed, needs to be approved by the leadership of the Writers Guild of America and union members to officially end the strike. But even after the approval, it will take longer for productions to resume as Hollywood actors are still on strike. Its shares have dropped nearly 14% since the writers' strike started on May 2, while Paramount, Disney and Netflix have lost between 20% and 45%.

Persons: Mike Blake, Walt Disney, Susannah Streeter, Hargreaves Lansdown, WBD, David Zaslav, Craig Huber, Yuvraj Malik, Zaheer Kachwala, Arun Koyyur Organizations: Writers Guild of America, Disney Studios, REUTERS, Warner Bros Discovery, Paramount Global, Netflix, SAG, Hargreaves, Paramount, Disney, Media, Huber Research Partners, Thomson Locations: Burbank , California, U.S, Bengaluru

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