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Warner Bros. Entertainment Inc. (commonly known as Warner Bros. and abbreviated as WB), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Warner Bros. Studios complex in Burbank, California, and a division of AT&T's WarnerMedia. Founded in 1923 by brothers Harry, Albert, Sam, and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games, and is one of the "Big Five" major American film studios, as well as a member of the Motion Picture Association (MPA).
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Warner Bros. Discovery Expects Earnings Hit Of Up To $500 Million From Strikes This Year

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deadline.com

The financial impact of ongoing actors and writers strikes as a number on it now as Warner Bros. Discovery said today it’s looking at a hit of $300 million to $500 million in adjusted EBTITDA (earnings before interest, taxes, depreciation and amortization) for 2023.

In a  filing with the SEC today, WBD said “it is expecting lower adjusted EBITDA for the full year in the range of $10.5 to $11 billion, reflecting the company’s assumption that adjusted EBITDA will be negatively impacted by approximately $300 to $500 million, predominantly due to the impact of the strikes.” Free cash flow goes the other direction.

The company raised its free cash flow expectations for the full year to at least $5 billion. It expects to exceed $1.7 billion in free cash flow for the third quarter of 2023, in part due to the strong performance of Barbie as well as incremental impact from strike-related factors.

The company said in the SEC filing it will continue to update its assumptions “based on the timing and any additional impacts of the eventual resolution of the strikes.” More to come… By providing your information, you agree to our Terms of Use and our Privacy Policy.

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