Warner Bros Discovery has lower its revenue expectations for the 12 months, saying it’ll probably incur prices as excessive as 500 million US {dollars} (£398 million) tied to the continuing Hollywood writers’ and actors’ strike.

The American movie and tv industries stay paralysed by the twin strikes.

The writers’ strike started in May and the actors joined them on July 14.

The firm stated in a regulatory submitting that it now expects 2023 adjusted earnings earlier than curiosity, taxes, depreciation and amortisation to be between 10.5 billion (£8.36 billion) to 11 billion {dollars} (£8.75 billion), down from 11 billion to 11.5 billion (£9.15 billion).

“While (Warner Bros Discovery) is hopeful that these strikes will be resolved soon, it cannot predict when the strikes will ultimately end. With both guilds still on strike today, the company now assumes the financial impact to (Warner Bros Discovery) of these strikes will persist through the end of 2023,” the corporate stated.

Shares of Warner Bros, primarily based in New York City, rose by about 2% on Tuesday.