'Very damaging effect': Hollywood Studios hit back against 'double strike'

Hollywood Studios have hit back against the "double strike" after Screen Actors Guild (SAG) members failed to reach a agreement with the Alliance of Motion Picture and Television Producers (AMPTP) on Wednesday. Disney CEO Bob Iger told CNBC the strike will have a "very damaging effect" on the business. "There’s a level of expectation that they have that is just not realistic, and they are adding to a set of challenges that this business is already facing, that is quite frankly, very disruptive," he says. The AMPTP issued a statement which said the SAG's strike will "lead to financial headship" for thousands. "The union has regrettably chosen a path that will lead to financial hardship for countless thousands of people who depend on the industry."