{"id":71978,"date":"2023-10-12T18:14:12","date_gmt":"2023-10-12T22:14:12","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/paramount-warner-bros-shares-fall-with-no-end-in-sight-for-actors-strike\/"},"modified":"2023-10-12T18:14:15","modified_gmt":"2023-10-12T22:14:15","slug":"paramount-warner-bros-shares-fall-with-no-end-in-sight-for-actors-strike","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=71978","title":{"rendered":"Paramount, Warner Bros. Shares Fall With No End in Sight for Actors Strike"},"content":{"rendered":"
\n
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<\/p>\n

<\/p>\n<\/figure><\/div>\n

Media stocks fell on Thursday after talks between the union representing film and television actors and the studios fell apart, signaling to Wall Street that there\u2019s no end in sight for the Hollywood actors strike.<\/p>\n

The Alliance of Motion Picture and Television Producers said Wednesday night its talks with SAG-AFTRA were suspended after the union presented its most recent proposal. AMPTP bargains on behalf of firms with entertainment businesses like
\n Netflix,<\/span><\/p>\n

Walt Disney,<\/span><\/p>\n

Warner Bros. Discovery,<\/span><\/p>\n

Paramount,<\/span><\/p>\n

Comcast,<\/span>
\n and
\n Amazon.com.<\/span>\n <\/p>\n

\n

\u201cAfter meaningful conversations, it is clear that the gap between AMPTP and SAG-AFTRA is too great, and conversations are no longer moving us in a productive direction,\u201d AMPTP said in a statement.<\/p>\n

AMPTP said SAG-AFTRA\u2019s current offer included a viewership bonus that would cost more than $800 million a year. It said that would \u201ccreate an untenable economic burden.\u201d In a message to members it shared with Barron\u2019s<\/em>, SAG-AFTRA accused AMPTP of turning to \u201cbully tactics\u201d by overstating the cost of its proposal by 60%. <\/p>\n

\u201cThey have done the same with A.I., claiming to protect performer consent, but continuing to demand \u2018consent\u2019 on the first day of employment for use of a performer\u2019s digital replica for an entire cinematic universe (or any franchise project),\u201d SAG-AFTRA continued.<\/p>\n

An AMPTP representative didn\u2019t offer additional comment when asked about SAG-AFTRA\u2019s characterizations.<\/p>\n

After AMPTP reached a deal last month to end the writers strike, there was some hope on Wall Street that studios could reach a deal with SAG-AFTRA to end a monthslong stoppage on Hollywood sets. Shares of firms that generate significant profits producing films and TV shows were hardest hit on Thursday.<\/p>\n

\n Paramount Global
\n shares (ticker: PARA) dropped 3.4% on Thursday.
\n Warner Bros. Discovery
\n shares (WBD) fell 5.8%.
\n Walt Disney
\n stock (DIS) closed down 0.6%.
\n Netflix
\n stock (NFLX) fell 1.3%.
\n Comcast
\n stock (CMCSA) fell 0.8%.<\/p>\n

The tone in messaging from AMPTP and SAG-AFTRA signals there\u2019s a long road ahead before the latter of 2023\u2019s dual Hollywood strikes wraps up, which portends more pain ahead for media stocks.<\/p>\n

Write to Connor Smith at connor.smith@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Media stocks fell on Thursday after talks between the union representing film and television actors and the studios fell apart, signaling to Wall Street that there\u2019s no end in sight for the Hollywood actors strike. The Alliance of Motion Picture and Television Producers said Wednesday night its talks with SAG-AFTRA were suspended after the union […]<\/p>\n","protected":false},"author":1,"featured_media":71979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-71978","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nParamount, Warner Bros. 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