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It´s a consequence of the downturn in advertising market.The company had reported a recovery in the ad market in these results, but the damage has already been done, with McCall previously describing the downturn as the worst since the financial crisis.

The announcement was made in anticipation of its premiere at the SXSW Film & TV Festival on March 9th. The film investigates the global addiction to plastic and the growing threat of microplastics to human health.

The still-untitled project has been co-written by Spain’s Alicia Luna and Peru’s Santiago Roncagliolio, Patricia Romero and Lima Film Fest artistic director Josué Mendez.

Moody’s Investors Service is expecting the Writers Guild of America and SAG-AFTRA strike to last a relatively long time and result in incremental costs of between $450 million and $600 million to media companies. 

"The Guardians of the Formula" is an original story of a potential nuclear crisis in socialist Yugoslavia produced by Cobra Film and United Media and distributed by Art Vista.