Hollywood writers and producers are near an agreement to end the Writers Guild of America strike after meeting face to face on Wednesday. The deal could be finalized today, according to CNBC.
It seems to mark the nearest point to a resolution that the two parties have reached since over 11,000 film and TV writers initiated a strike on May 2. Their argument revolves around the disparity between their compensation and the revenue generated during the streaming era. Towards the end of August, the AMPTP publicly presented its most recent proposal to the WGA, and it seemed that tensions between the two organizations continued to run high.
Conversations between the studios and writers have encompassed face-to-face meetings with prominent media executives, such as David Zaslav, the CEO of Warner Bros. Discovery; Bob Iger of Disney; Ted Sarandos, co-CEO of Netflix; and Donna Langley, the head of film at NBCUniversal.
Earlier this month, Warner Bros. Discovery, which possesses a TV and film studio along with the largest collection of pay TV networks, alerted investors about the potential impact of the strikes by revising its earnings projections. The company stated that it anticipates a negative impact on its adjusted earnings before interest, taxes, depreciation, and amortization in the range of $300 million to $500 million, resulting in a full-year range of $10.5 billion to $11 billion.
Could the writers and actors put down their signs
and return to the studios? It all depends if their requirements are going to be met, here's to hoping.
/Simon
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