Streamers' and studios' stocks rose on reports that the unions representing writers and producers are close to an agreement to end a months-long strike.
Shares of streaming companies and major studios were higher Thursday, amid media reports that the unions representing writers and producers are close to an agreement to end a months-long strike.
The meeting included the studios’ top executives, including Netflix NFLX, -0.20% Co-Chief Executive Ted Sarandos; Warner Bros. Discovery WBD, +1.24% CEO David Zaslav; Disney DIS, +0.62% CEO Bob Iger; and Donna Langley, chief content officer of Comcast’s CMCSA, +0.46% Universal Pictures, according to media reports.
The company’s new unit TKO Group Holdings Inc. TKO, -13.87%, which combined WWE and Ultimate Fighting Championship and began trading last week, fell 12% after WWE announced it would bring Friday Night SmackDown back to NBCUniversal’s USA Network after airing it on Fox for the past few years. In July, striking actors joined the writers in their protest. Actors are negotiating separately, so a resolution of the writers’ strike would not mean production can resume immediately.
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