The Hollywood writers’ strike may be close to over. After a work stoppage of more than 140 days, the Writers Guild of America (WGA) announced Sunday night that it has reached a “tentative agreement” with major Hollywood studios on wages, working conditions and more.
“We can say, with great pride, that this is an exceptional agreement, with significant benefits and protections for writers across all membership sectors,” the WGA negotiating committee wrote in an email to the members.
WGA leadership said details of the agreement could not be shared until its language is finalized; After that, the writers will have to vote to approve the deal. The union said its leaders could end the strike on Tuesday, once the contract is finalized and sent to members for a vote. The union immediately suspends the pickets.
The deal was finalized after several nights of negotiation between the WGA and the Motion Picture and Television Producers Alliance in the middle and end of last week.
Writers may soon get back to work, but without actors, Hollywood productions will likely remain stagnant. The Screen Actors Guild – American Federation of Television and Radio Artists (SAG-AFTRA), the union representing some 160,000 members of the entertainment industry, has been on strike since July.
The strikes have forced studios like Netflix and Warner Bros. Discovery to make adjustments to their financial projections. In July, Netflix estimated it would have an additional $1.5 billion in free cash flow, while Warner Bros. Discovery lowered its profit expectations to $300 million to $500 million by 2023.
(Divulgation: The edge The editorial staff is also unionized with the Writers Guild of America, East.)