BUSINESS

Recession Hits Hollywood

04/02/2008 05:12 am ET | Updated May 25, 2011

The wave of euphoria that swept over Hollywood following the end of the WGA strike has been replaced by a whole new set of emotions: anxiety, depression, fear, nervousness -- and anger.

One month after scribes put down their pickets, a March malaise has set in, with folks in town wondering when -- or if -- things will get back to "normal."

There are significantly fewer TV pilots, budgets for series are being cut back, feature films are being put on hold in fear of a SAG walkout, and the shifts in the TV and film skeds have meant either accelerated workloads or prolonged unemployment.

And all this is occurring as everyone is feeling the pinch of an overall economy that's in or heading into recession.

-- OR --

Read about how Les Moonves has changed his mind about the economy not being in a recession.

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