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.
SAG-AFTRA, which represents about 160,000 actors, joined the writers on strike on July 14.
There has been little signs of progress between the two sides since the strikes started.
Other companies that are being struck include Apple, Amazon, CBS, Disney, NBC Universal, Netflix, Paramount Global and Sony.
Persons:
WBD, “ WBD, ”, Barbie
Organizations:
New, New York CNN, Warner Bros, CNN, Securities and Exchange Commission, Guild of America, SAG, Apple, CBS, Disney, NBC Universal, Netflix, Paramount Global, Sony
Locations:
New York