Warner Bros Discovery says ongoing Hollywood strikes could cost it £398 million

Law & Order actress Jill Hennessy on the picket line outside Warner Bros Discovery’s headquarters in New York City in July (Alamy/PA)

Warner Bros Discovery has cut its profit expectations for the year, saying it will likely incur costs as high as 500 million US dollars (£398 million) tied to the ongoing Hollywood writers’ and actors’ strike.

The American film and television industries remain paralysed by the dual strikes.