Paramount CEO, Bob Bakish Says They Are Prepared For The Ongoing Writers Strike
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The ongoing strike between the Writers Guild of America and Hollywood studios continues with no end in sight; however, Paramount CEO Bob Bakish is confident there are a few options available for the company if the strike continues for several months.
On a conference call, he told Wall Street, analysts, “...we do have many levers to pull, and that will allow us to manage through the strike even if it’s an extended duration.” He continued, saying, “In terms of those levers, we have a lot in the can, so to speak, content in the can. So with the exception of things like late-night, consumers really won’t notice anything for a while. Add to that a broad range of reality, unscripted, where we’re definitely a leader, as well as sports, and that’s not affected, so we can do more in those areas, if necessary.”
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Bakish did express his appreciation for the work writers do for the industry on a quarter-one earnings call saying how writers are “an essential part of creating content.” He stated Paramount moving productions overseas was an effort to “leverage” the company’s position before the strike.
Talks between the Alliance of Motion Pictures and Television Producers (AMPTP) and the Writers Guild of America (WGA) ended on Monday evening. In a statement, the AMPTP said many pain points of the negotiations are the WGA’s request for staffing minimums and guaranteeing the volume of work weeks per production season.
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