Warner Bros. Discovery has announced a delay in the release of three highly anticipated films. This decision comes as a result of the ongoing strikes within the writers and actors community, which is currently putting a temporary halt to Hollywood’s operations, according to a report by The Wall Street Journal.
Unsurprisingly, investors did not react favorably to the news. As a result, shares of Warner Bros. Discovery (ticker: WBD) saw a decline of 3.6% to $12.24 on Friday. The company’s stock also performed poorly compared to other companies listed on the S&P 500.
The three films affected by this delay are Dune: Part Two, Godzilla x Kong: The New Empire, and Lord of the Rings: The War of the Rohirrim. While Dune: Part Two was initially slated for a November release, all three movies will now be rolled out throughout the course of next year. Warner Bros. explained that the decision was made in order to ensure optimal promotional support from the films’ global cast and filmmaking team.
Warner Bros. declined to comment immediately when requested by ''s for additional information.
The entertainment industry has undoubtedly faced numerous challenges in recent months. In July, the Screen Actors Guild’s National Board voted in favor of a strike, imposing restrictions on members’ involvement in promotional activities such as personal appearances, interviews, and attending premieres and screenings, for films produced under union contracts. Moreover, the Writers Guild of America has been on strike since May 2, following the expiration of their bargaining agreement with the Alliance of Motion Picture and Television Producers.
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