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Business

Hollywood writers strike nears end as two sides could reach deal on Thursday

By
Ariel Zilber
Published Sep. 21, 2023, 10:24 a.m. ET

The writers strike that has brought Hollywood to a grinding halt could 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 continue negotiations to end the months-long strike Thursday, according to CNBC.

“The [Writers Guild of America] and [the Alliance of Motion Picture and Television Producers] met for bargaining today and will meet again tomorrow,” according to a joint statement released by the two sides.

The terse statement was a sign of a significant thaw in relations between the two sides, which thus far have been locked in an acrimonious dispute over pay, working conditions and job security that is 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 be resolved by Thursday, according to a report.
The five-month work stoppage declared by Hollywood writers could be resolved by Thursday, according to a report. Getty Images

A source told Reuters news agency that the negotiating session was “encouraging” and that all four executives are expected to participate in Thursday’s meeting.

The WGA, the union which represents some 11,000 writers in film and television, went on strike in May.

The union demanded studio guarantees of increased pay, hiring, and limits to the use of AI, among other issues.

The Writers Guild of America, which represents 11,000 writers in film and television, is demanding pay increases and job security guarantees.
The Writers Guild of America, which represents 11,000 writers in film and television, is demanding pay increases and job security guarantees. Getty Images

In July, the SAG-AFTRA actors union also went on strike — making it the first time in more 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 in the media and entertainment sectors as intense competition in the streaming space has studios desperately battling for dwindling audiences.

Warner Bros. Discovery CEO David Zaslav took part in negotiating sessions on Wednesday.
Warner Bros. Discovery CEO David Zaslav took part in negotiating sessions on Wednesday. Image Press Agency / MEGA
Disney CEO Robert Iger also took part in the negotiating sessions with striking writers.
Disney CEO Robert Iger also took part in the negotiating sessions with striking writers. AFP via Getty Images

Warner Bros. Discovery told investors earlier this month that it expects to take a loss of between $300 million and $500 million off its adjusted earnings before interest, taxes, depreciation and amortization.

“We need to do everything we can to get people back to work,” Zaslav told investors.

“We really have to focus as an industry, and we are, on trying to get this resolved in a way that’s really fair.”

With Post wires