Writers Guild of America strike nears an END after ‘encouraging’ meeting between Hollywood writers and studio CEOs including Disney’s Bob Iger and Warner Bros. Discovery’s David Zaslav
Negotiators from the Writers Guild of America and Hollywood studios are close to reaching an agreement to end the strike after an “encouraging” face-to-face meeting.
The two sides released a joint statement following their meeting on Wednesday evening, saying: “The WGA and AMPTP met to negotiate today and will meet again tomorrow. »
Sources said CNBC both sides hope to finalize a deal and an agreement between the two could come as early as Thursday.
It’s the closest the two sides have come to an agreement since the strike began earlier this year. Although sources say they are optimistic, if the agreement is not reached, the strike could last the rest of the year.
The meeting included Disney CEO Bob Iger, Netflix co-CEO Ted Sarandos, Comcast’s NBCUniversal Studio Group President Donna Langley and Warner Bros. Discovery CEO David Zaslav, according to Reuters.
The Writer’s Guild has been on strike since May and was later joined by the Screen Actors Guild. Meredith Stiehm, left, president of Writers Guild of America West, and Fran Drescher, president of SAG-AFTRA, participate in a rally
Negotiators from the striking Writers Guild of America (WGA) and Hollywood studios are close to reaching an agreement to end the WGA strike after an “encouraging” face-to-face meeting on Wednesday
Pictured: Bob Iger, Executive Chairman of the Walt Disney Company
CNBC Entertainment reporter David Faber reported that the two sides hope to reach an agreement on Thursday.
“After a face-to-face meeting today, writers and producers are close to an agreement to end the WGA strike,” he tweeted Wednesday evening.
“We met today and hope to finalize the agreement tomorrow, according to people close to the negotiations, who, while optimistic, warn that without an agreement tomorrow, the strike will likely continue until the end of the year .”
If no agreement is reached, Faber firmly believes the strike will last until the end of the year.
A source told Hollywood journalistthat “CEOs have cleared their calendars and want to sit down and have a real conversation.”
The source said WGA submitted a list of issues ranked in order of importance before the meeting,
“It’s taking so long to come; everyone feels pain. Let’s go ahead and set the record straight,” the source told The Hollywood Reporter.
Another source told the outlet that company executives had been “preparing for the negotiation” in Zoom ahead of Wednesday’s trading session.
The two sides released a joint statement after their meeting Wednesday evening, saying: “The WGA and AMPTP met to negotiate today and will meet again tomorrow.”
It’s the closest the two sides have come to an agreement since the strike began earlier this year.
Although sources say they are optimistic, if the agreement is not reached, the strike could last the rest of the year.
“They feel that the smaller the group, the more meaningful it will be. They want to walk into a room and take it all in,” the source told The Hollywood Reporter.
Earlier this month, Warner Bros. Discovery has revealed that the ongoing cast and writers strike will cost it up to $500 million this year.
Hollywood is experiencing its first double work stoppage in 63 years, halting productions across the industry and costing the economy billions of dollars.
In July, the Screen Actors Guild-American Federation of Radio and Television Artists (SAG-AFTRA) decided to show solidarity with the Writers’ Guild of America (WGA), on strike since May, after the failure of negotiations with the studios.
In August, Hollywood studios made what they claimed was their “best offer” to end the writers’ strike, but the Writers Guild of America (WGA) criticized it for “failing to sufficiently protect them” , while the union is committed to maintaining the strike picket.
The Writer’s Guild has been on strike since May – the first in 16 years – and was later joined by the Screen Actors Guild, bringing their entertainment industry to a standstill.
SAG-AFTRA members are joined by the PSA union outside the offices of Netflix and HBO in Hudson Yards, New York.
(L to R) Alexandra Shipp and Anya Taylor-Joy join the picket line outside Paramount Studios on September 19, 2023 in Los Angeles, California
In July, the Screen Actors Guild-American Federation of Radio and Television Artists (SAG-AFTRA) decided to show solidarity with the Writers’ Guild of America (WGA), on strike since May, after the failure of negotiations with the studios.
The package presented by the Alliance of Cinema and Television Producers (AMPTP) at the time included the largest pay increase in 35 years, as well as protection against artificial intelligence and some residual pay increase, the group said in a statement.
The AMPTP offer, proposed to the guild on August 11, also included a commitment not to use AI-created content as literary material and to share the date of streaming viewing times.
The studios proposed an increase in salary rates of 5 percent in the first year of a contract, 4 percent in the second year and 3.5 percent in the third year – a smaller increase than the 6-5 formula -5 backed by the WGA, as reported by The Hollywood Reporter.