SAG-AFTRA and Studios Reach Agreement on Union's Goals

Warner Bros. Discovery CEO David Zaslav stated that the studios' offer in the SAG-AFTRA negotiations has met almost all of the union's goals, including the highest wage increase in 40 years. Zaslav expressed hope for a resolution soon and emphasized the importance of valuing and rewarding creative partners. The ongoing strike has impacted WBD's bottom line, with reduced original content schedules and declining revenues. The company expects a negative impact on earnings due to the strike's duration, but also anticipates positive cash flow from the inability to deploy cash during the strike.