Street sign: Long strike will hurt

December 04, 2007 In a report issued on the eve of reconvened negotiations between the WGA and studio reps, a Wall Street firm said Monday that it will cut its earnings forecast on media conglomerates if the writers strike drags into the new year. Natixis Bleichroeder said in an investors note that "the strike is beginning to have an economic impact on the television business, will shortly begin impacting the film side (and) if not resolved will impact our estimates for 2008." The investment firm said companies whose earnings could be hurt by a protracted writers strike include CBS, Time Warner, Disney, News Corp. and Viacom.

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