A new Moody’s (MCO) report estimates that the recent strikes in Hollywood will cost entertainment studios $450-600 million dollars annually going forward, as the new union contracts go into effect. The report said that this increase in costs “will not pose a credit risk for the studios in isolation,” citing the massive spending that already occurs globally, this only makes up an incredibly small percentage. Yahoo Finance Senior Reporter Alexandra Canal joins the Live show to break down the report and what it means for the entertainment industry going forward.
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