Warner Bros. Files Adjusted Income Report, Feeling the Burn of Withheld Work

Image: Mario Tama / Staff (Getty Images)
Image: Mario Tama / Staff (Getty Images)

Remember earlier this month when Warner Bros. said that it had saved money on the strikes? Well, it seems like that may have been more than a little presumptuous. Today, Warner Bros. filed a document with the Securities and Exchanges commission that said it would be losing more money than expected in quarter three because of the ongoing strikes.

Warner Bros. filed an updated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) with the SEC (which you can read here) that says the company will lose nearly half a billion because of the ongoing work stoppage. “The Company 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.” This adjustment comes in part from the fact that the strikes will extend past WB’s initial estimated resolution timeframe.

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