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The stocks of studios and streaming companies were mostly higher early Thursday, after Hollywood’s actors union reached a tentative deal with studios to end its strike, ending months of labor strife that ground the film and television industries to a historic halt, as the Associated Press reported. While union members have yet to vote on the three-year contract agreement, the leadership declared that the strike will end at 12:01 a.m. on Thursday. At nearly four months, it was by far the longest strike ever for film and television actors. Details were not immediately released. Warner Bros. Discovery Inc.’s stock
WBD,
rose 2.8%, a day after the stock tanked following a warning on the company’s third-quarter earnings call that it would not meet 2024 deleveraging targets without a recovery in the TV ad market. Analysts are not expecting that to materialize. Paramount Global
PARA,
rose 3%, after also falling on Wednesday. Netflix Inc.
NFLX,
was slightly higher and Walt Disney Co.
DIS,
was up 3.9%, also benefiting from earnings that beat estimates, a huge jump in streaming users and a vow to increase annual cost cuts to $7.5 billion, from $5.5 billion. Comcast Corp.
CMCSA,
parent to Universal studio, was down slightly.
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