{"id":22168,"date":"2023-09-26T00:08:01","date_gmt":"2023-09-26T00:08:01","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/hollywood-writers-strike-deal-lifts-movie-theater-and-streaming-stocks\/"},"modified":"2023-09-26T00:08:03","modified_gmt":"2023-09-26T00:08:03","slug":"hollywood-writers-strike-deal-lifts-movie-theater-and-streaming-stocks","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=22168","title":{"rendered":"Hollywood writers\u2019 strike deal lifts movie theater and streaming stocks"},"content":{"rendered":"
\n

Shares of cinema and streaming companies rose Monday, after the Writers Guild of America announced a tentative agreement to end the Hollywood writers\u2019 strike.\u00a0<\/p>\n

On Sunday the Writers Guild of America said that it had reached an agreement in principle on all deal points related to a new 2023 Minimum Basic Agreement, or MBA, subject to the drafting of final contract language.\u00a0<\/p>\n

\n

Shares of movie-theater chain and meme-stock darling AMC Entertainment Holdings Inc.
\n AMC,
\n +6.82%<\/bg-quote>
\n rose 0.5% in premarket trades, while rival Cinemark Holdings Inc.
\n CNK,
\n +2.66%<\/bg-quote>
\n rose 2%.<\/p>\n

Related: <\/strong>Tentative deal reached to end Hollywood writers strike, union says<\/p>\n

AMC\u2019s CEO, Adam Aron, described the deal as a cause for celebration. \u201cAn announced deal ends the 5-month long Writers\u2019 strike, pending an affirmative union member vote,\u201d he tweeted Sunday. \u201cDirectors and Writers contracts now behind us. Only the Screen Actors Guild left to go. The world\u2019s movie theatres can celebrate.\u201d<\/p>\n

\u201cExtremely good news that progress is being made,\u201d Aron added.<\/p>\n

Analysts have highlighted the possible impact of the Hollywood writers\u2019 strikes on AMC, with B. Riley Securities analyst Eric Wold warning that the strikes could potentially put the 2024 film slate at risk.<\/p>\n

Related:<\/strong> AMC equity offering is a \u2018safety net\u2019 and a chance to reduce debt balances, analyst says<\/p>\n

Streaming stocks also rose in premarket trades Monday, boosted by the tentative agreement to end the writers strike. Walt Disney Co. shares
\n DIS,
\n -0.30%<\/bg-quote>
\n rose 0.5%, while Warner Bros. Discovery Inc.\u2019s stock
\n WBD,
\n -3.96%<\/bg-quote>
\n gained 2.1% and Paramount Global Inc. shares
\n PARA,
\n +0.16%<\/bg-quote>
\n rose 2%. Netflix Inc.\u2019s stock
\n NFLX,
\n +1.31%<\/bg-quote>
\n was up 0.7% premarket, and Endeavour Group Holdings Inc. shares
\n EDR,
\n -2.64%<\/bg-quote>
\n gained 0.3%.<\/p>\n<\/p><\/div>\n<\/div>\n

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

Shares of cinema and streaming companies rose Monday, after the Writers Guild of America announced a tentative agreement to end the Hollywood writers\u2019 strike.\u00a0 On Sunday the Writers Guild of America said that it had reached an agreement in principle on all deal points related to a new 2023 Minimum Basic Agreement, or MBA, subject<\/p>\n","protected":false},"author":1,"featured_media":22169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-22168","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nHollywood writers\u2019 strike deal lifts movie theater and streaming stocks | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Shares of cinema and streaming companies rose Monday, after the Writers Guild of America announced a tentative agreement to end the 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