Warner Bros Discovery has warned that it could face a near-£400million hit from ongoing Hollywood strikes.
The US media giant – whose upcoming films include Wonka starring Timothee Chalamet – said it expects profits will be dented by between £239million and £397million this year.
The industrial action is organised by the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA).
Chocbuster: Warner Bros Discovery – whose upcoming films include Wonka starring Timothee Chalamet (pictured) – said it expects profits will be hit this year
It has more than 160,000 members seeking higher pay and better protection against the rise of artificial intelligence.
The dispute is bringing hundreds of productions to a standstill.
Warner Bros now forecasts profits of between £8.3billion and £8.7billion in 2023 even after producing the major blockbuster hit Barbie.
The film has earned over £1.1billion at the box office worldwide, making it the biggest global earning Warner Bros film ever.
But in a filing with the Securities and Exchange Commission yesterday, the company said: ‘While Warner Bros Discovery is hopeful that these strikes will be resolved soon, it cannot predict when the strikes will ultimately end.’
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