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How much is Warner Bros expected to lose over Hollywood strikes?

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8 months ago

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Warner Bros. Discovery is bracing for the ongoing effects of the prolonged strikes by writers and actors, letting shareholders know they expect its adjusted earnings to take a hit of $300 million to $500 million.

The strikes, with the Writers Guild of America union members on picket lines for over 100 days and actors joining in July, have hit the media industry at a critical juncture when companies are striving to make their streaming ventures profitable and lure audiences back to theatres.

The company anticipates that its adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) will suffer a significant blow, ranging from $300 million to $500 million. This adjustment places their full-year earnings outlook in the range of $10.5 billion to $11 billion.

The strikes, with the Writers Guild of America union members on picket lines for over 100 days and actors joining in July, have hit the media industry at a critical juncture when companies are striving to make their streaming ventures profitable and lure audiences back to theatres.

Warner Bros. Discovery is not just a studio owner but also boasts the largest collection of pay TV networks. They express hope for a swift resolution to the strikes but emphasise their inability to predict when that might happen.

Tensions have escalated during negotiations between studios and writers, with Warner Bros. Discovery CEO David Zaslav actively involved in the discussions. The impact of these strikes has already led to schedule adjustments, including the delay of “Dune: Part Two” to March 15, 2024, and other film release date changes.

While the strikes affect Warner Bros. Discovery’s free cash flow, they have also been buoyed by the success of “Barbie,” which is now their highest-grossing release. Despite these challenges, the company maintains its goal of meeting its net leverage target, actively reducing the substantial debt load stemming from the 2022 merger of Warner Bros. and Discovery.

Previously, Warner Bros. Discovery’s financial expectations were based on the assumption that the strikes would conclude by early September.

However, the revised outlook acknowledges the reality of a more protracted disruption, emphasising the uncertainty surrounding the strikes’ resolution and their financial impact.

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The EV transformation expands to legacy vehicles

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2 hours ago

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April 29, 2024

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This week witnessed another milestone in the automotive industry as the legendary Mercedes-Benz G-Wagen embarked on its electric journey, aligning with global sustainability efforts.

Simultaneously, Toyota and Mazda debuted EV offerings tailored for the booming Chinese market, signalling a strategic shift towards collaboration with advanced Chinese partners.

While the electric G-Wagen promises both eco-friendliness and off-road prowess with its innovative design, questions arise about Japanese automakers’ perceived lag in EV development, countered by the strategic imperative to tap into the rapidly growing Chinese EV market. As automotive icons embrace electrification and traditional players adapt through partnerships, it’s clear that collaboration and innovation will drive the future of mobility.

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The degree dilemma, income shifts, debt, and dream homes

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2 hours ago

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April 29, 2024

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As individuals face the daunting choice between paying off student debt, saving for a first home deposit, or exploring alternative options like rentvesting, careful consideration of various factors becomes imperative.

 

In the midst of these challenges, a couple in the inner north ingeniously employed a strategy to realise their dream of a larger home while managing HECS debt and affordability hurdles.

Rentvesting emerges as a viable solution for individuals grappling with the burdens of high HECS debt and property affordability issues.

Moreover, the decreasing income premium tied to a university degree is closely intertwined with changing economic dynamics and shifts in the job market, underscoring the need for innovative approaches to education and financial planning in today’s society.

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President Biden signs TikTok bill – what’s next?

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3 days ago

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April 26, 2024

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TikTok users could soon find that the popular social media service is either under new ownership or could be outright banned in the United States.

President Joe Biden signed a bill into law that requires TikTok to find a new owner—or face a ban in the United States.

Over the past several months, Washington D.C. has been under pressure to ban the popular Chinese-owned social media app.

Lawmakers and security experts have long raised concerns that the Chinese government could tap TikTok’s trove of personal data about millions of U.S. users.

TikTok’s CEO said the bill is disappointing and reiterated that the company has committed to challenge it.

David Zhang from China Insider. joins Veronica Dudo to discuss

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