Facing a double strike of writers and performers for the first time in six decades, the major studios are staring down a hotlaborsummer at the worst possible time. Who will lead Hollywood out of its labor nightmare? writersstrike wga sagstrike
But the Walt Disney Co. chief executive has now been cast by actors and writers as a villain in the strikes, after he told CNBC from the “billionaire summer camp” of Sun Valley that the unions’ demands were “.” In the same interview, he showed how challenged Disney’s business is, by indicating he would be open to spinning off its broadcast network, ABC, and taking on a partner for ESPN.
Warner Bros. Discovery CEO David Zaslav had already become a symbol of severe job cuts and excessive executive pay. The stock price is up more than 50% so far this year. The company has signaled a strong stockpile of content to keep subscribers entertained and analysts are expecting a windfall from its password-sharing crackdown.
It’s unclear how Sarandos will address the strike when Netflix reports earnings Wednesday afternoon. During his last quarterly presentation, which took place before the Writers Guild of America walkout, Sarandos said Netflix would be able to withstand a strike “better than most,” though he noted that the company wanted to avoid a work stoppage.
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