Bob Bakish Says “Pretty Big Gap” Between Studios, WGA; Paramount Has “Many Levers To Pull” If Strike Prolonged

Paramount CEO bob bakish told TODAY that “writers are essential in creating content and … we hope we can reach a resolution that̵7;s good for everyone on Angel quickly.” But it’s also fair to say that today there is a huge difference, and it’s actually a multidimensional type of bid and ask.

“Obviously we’re planning for it,” he told Wall Street analysts on a post-earnings conference call. wga The strike is now entering the third day. “We have many levers to pull and this will allow us to manage through the strike, even if it is an extended period.”

“In terms of those levers. We have a lot of content in the can. So the consumer isn’t going to see anything for a while except late at night. Add to that a wide range of reality and unscripted as well as sports, and it Doesn’t get affected. We can do more in those areas if needed.”

“Plus we have offshore production, which we were moving to leverage pre-strike as part of our broader strategy. Plus, finally, one of the largest libraries in media – features, TV series, multiple demographics and so on – that we can pull from to fill the schedule. So we’re in a good position.”

In terms of the financial impact, he said, “It really depends on the duration of the strike. But at this point, we think it’s probably a little diluted for revenue, flat for Obita and sharp for cash.” But again, it’s really a question of how long that holds. (Oebitda refers to operating earnings before interest, taxes, depreciation and amortization.)

more to come,