Hollywood Strike Impact - Warner Bros. 'Dune: Part Two' Among Major Delays

The Hollywood actors' strike has led Warner Bros. Discovery, Inc WBD to postpone the release of the highly anticipated "Dune: Part Two" from November to March 15, 2024. 

The rescheduling poses challenges for cinema chains like AMC Entertainment Holdings, Inc AMC, Cineplex, and Cinemark Holdings Inc CNK, who were banking on the film's release to boost their post-pandemic recovery. 

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The sequel, starring Timothée Chalamet and Zendaya, picks up from the 2021 installment that garnered $402 million at the global box office, Reuters reports.

Due to the shift, the release date for "Godzilla x Kong: The New Empire," initially scheduled for March 14, has been moved to April 12. This domino effect also pushed an animated "Lord of the Rings" film, earlier slated for April, to December.

The ongoing SAG-AFTRA and Writers Guild of America (WGA) strikes have considerably impacted Hollywood. The absence of top stars from promotional events has compelled studios to rethink their film schedules.

Sony Group Corp SONY Sony Pictures, for instance, tweaked its release plan for "Dumb Money" — a movie inspired by GameStop Corp's GME stock surge. 

Instead of a nationwide September 22 release, the film will have a limited screening in New York and Los Angeles on September 15, followed by a broader release on October 6.

With the WGA strike beginning on May 2, most scripted television productions and movie shoots have stopped. 

However, both Warner Bros. and Legendary Entertainment remain optimistic. 

They believe next year's spring break and Easter holiday will offer both "Dune: Part Two" and "Godzilla x Kong: The New Empire" ample opportunity to thrive at the box office.

Price Action: WBD shares are down 0.08% at $12.69 premarket on the last check Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.