Hollywood Studios and Writers Nearing Agreement to End Strike, Potential Deal on Thursday

After meeting face-to-face on Wednesday, writers and producers are close to reaching a deal to end the WGA strike, according to sources close to the negotiations. According to the sources, the two parties met and aimed to reach an agreement on Thursday. While optimistic, the individuals said that if no agreement is reached, the walkout could go until the end of the year. The WGA and the Alliance of Motion Picture and Television Producers issued a joint statement on Wednesday evening stating that the two parties had met for negotiations and will meet again on Thursday. WGA members have been on strike for over 100 days, with actors following the picket line in July, putting a halt to Hollywood production of TV shows and films.

Hollywood studios and writers are nearing a deal to end the strike and could finalize a deal as soon as tomorrow, CNBC reports. pic.twitter.com/ntvZZ0cgiB

— Pop Base (@PopBase) September 21, 2023

Production on numerous high-profile shows and films has been paused, including Netflix’s “Stranger Things,” Disney and Marvel’s “Blade,” and Paramount’s “Evil.” Earlier last week, the writers’ union said that it will begin talks with the studios. This appears to be the closest the two sides have come to an agreement since more than 11,000 film and television writers went on strike on May 2. They have claimed that their pay does not reflect the revenue earned during the streaming age. Aside from better pay, the WGA has been pressing for new rules requiring studios to staff TV series with a certain number of writers for a set amount of time. The writers are also seeking pay for their efforts during preproduction, production, and postproduction. Currently, authors are frequently requested to submit revisions or create a new material without getting compensated.

After face to face meeting today, writers and producers near agreement to end WGA strike. Met today and hope to finalize deal tomorrow, according to people close to the negotiations, who, while optimistic, warn that without deal tomorrow strike likely continues through year end.

— David Faber (@davidfaber) September 21, 2023

According To Sources, Hollywood Studios And Writers Are Close To Reaching An Agreement To End The WGA Strike And Aim To Finalise The Accord On Thursday

Writers and producers are getting closer to a deal to end the Writers Guild of America strike. According to CNBC, they met face-to-face on Wednesday, September 21, to discuss this. According to CNBC, the two parties now want to reach an agreement by Thursday, September 21. If no agreement is reached by Thursday, the strike might go until the end of the year. Meanwhile, the WGA and the Alliance of Motion Picture and Television Producers issued a joint statement telling the public that the two organisations would meet for a conversation. WGA members have been on strike for more than 100 days, for those who are unaware. Several well-known actors also joined the strike. As a result, production on several high-profile series and films has been halted. ‘Stranger Things’ on Netflix, ‘Blade’ on Disney and Marvel, and ‘Evil’ on Paramount are among others whose production has been halted. More than 11,000 film and television writers went on strike on May 2nd, claiming that their pay does not equal their earnings. The writers are also seeking pay for their efforts during preproduction, production, and postproduction. Aside from better pay, the WGA has been pressing for new rules requiring studios to staff TV series with a certain number of writers for a set amount of time.

The writers are also seeking pay for their efforts during preproduction, production, and postproduction. Currently, writers are frequently requested to submit revisions or create new material without getting compensated. The AMPTP made their newest proposal to the WGA public in late August, and tensions between the two parties appeared to be high at the moment. The studios and authors have met with prominent media executives such as Warner Bros. Discovery CEO David Zaslav, Disney’s Bob Iger, Netflix co-CEO Ted Sarandos, and NBC Universal film head Donna Langley. The strikes have taken a toll on these media companies, who are struggling to make streaming profitable and entice people back into theatres. Warner Bros. Discovery, which owns a TV and film studio as well as the largest portfolio of pay-TV networks, cautioned investors earlier this month that the strikes would have an impact on earnings. The business now anticipates its adjusted earnings before interest, taxes, depreciation, and amortisation to fall by $300 million to $500 million, putting it in the $10.5 billion to $11 billion range for the full year. Zaslav called for an end to the writers’ and actors’ strikes earlier this month at a conference.

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