Warner Bros. executives: Hollywood strike is expected to end in a few weeks, saving hundreds of millions of dollars

CTOnews.com, August 5 (Xinhua)-- Warner Bros. Discovery executives said on a conference call that they expected the Hollywood strike to end within weeks, according to the Washington Post. Even if actors and writers remain on Picket line next year, the studio is expected to save hundreds of millions of dollars.

Chief Financial Officer Gunnar Wiedenfels said thousands of union writers shut down in May, saving more than $100m and making Warner's free cash flow better than expected, reaching $1.7 billion between April and June. The company earned about $10.4 billion in revenue this quarter (CTOnews.com Note: currently about 74.672 billion yuan), but still lost $1.2 billion.

Analysts expect Warner's free cash flow to continue to grow next quarter, with tens of thousands of unionized actors on strike in July, with almost all remaining Hollywood production shut down.