Pryor Cashman Partner Briana Hill, co-chair of the Media + Entertainment and Film, TV + Podcast Groups and co-chair of the M+E Transactions and Financing Practice, spoke with the Wall Street Journal about the potential impact of the Hollywood writers' strike on studios' cost-cutting efforts.
In "Hollywood Writers Strike May Give Studios Chance to Slash Costs," Briana comments on how studios might use the strike as an opportunity to review existing deals—and decide to cut some from their ledgers:
"Everyone is looking to cut development costs; it would be surprising to me if there weren't conversations occurring around this," said Briana Hill, an entertainment lawyer at Pryor Cashman.
How and when deals could be dropped depends on the language of the agreement. "The force majeure provision usually includes the ability to extend or to terminate agreements, and the timing is often contractual with respect to how many weeks it would be," Ms. Hill said.
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