The writers’ strike that has brought Hollywood to a grinding halt could possibly be nearing its end after top studio execs reportedly engaged in high-level talks with the union.
The warring factions began hammering out a deal Wednesday and are scheduled to proceed negotiations to finish the months-long strike Thursday, based on CNBC.
“The [Writers Guild of America] and [the Alliance of Motion Picture and Television Producers] met for bargaining today and can meet again tomorrow,” based on a joint statement released by the 2 sides.
The terse statement was an indication of a big thaw in relations between the 2 sides, which to date have been locked in an acrimonious dispute over pay, working conditions and job security that’s threatened by the rapid advancement of artificial intelligence.
Union leaders met Wednesday with top studio bosses including Disney CEO Robert Iger, Warner Bros. Discovery CEO David Zaslav, Netflix co-CEO Ted Sarandos and NBCUniversal Studio Chair Donna Langley.
The five-month work stoppage declared by Hollywood writers could possibly be resolved by Thursday, based on a report.Getty Images
A source told Reuters news agency that the negotiating session was “encouraging” and that each one 4 executives are expected to take part in Thursday’s meeting.
The WGA, the union which represents some 11,000 writers in film and tv, went on strike in May.
The union demanded studio guarantees of increased pay, hiring, and limits to using AI, amongst other issues.
The Writers Guild of America, which represents 11,000 writers in film and tv, is demanding pay increases and job security guarantees.Getty Images
In July, the SAG-AFTRA actors union also went on strike — making it the primary time in greater than 60 years that Hollywood was hit with simultaneous work stoppages.
No talks are currently scheduled between the actors and the studios.
The labor strife coincided with sharply declining profits within the media and entertainment sectors as intense competition within the streaming space has studios desperately battling for dwindling audiences.
Warner Bros. Discovery CEO David Zaslav took part in negotiating sessions on Wednesday.Image Press Agency / MEGA
Disney CEO Robert Iger also took part within the negotiating sessions with striking writers.AFP via Getty Images
Warner Bros. Discovery told investors earlier this month that it expects to take a lack of between $300 million and $500 million off its adjusted earnings before interest, taxes, depreciation and amortization.
“We’d like to do every part we are able to to get people back to work,” Zaslav told investors.
“We actually must focus as an industry, and we’re, on attempting to get this resolved in a way that’s really fair.”
With Post wires
