\n<\/p>\n
The Hollywood writers strike may be close to an end. After a more than 140-day work stoppage, the Writers Guild of America (WGA) announced on Sunday night that it reached a \u201ctentative agreement\u201d with major Hollywood studios on pay, working conditions, and more.<\/p>\n<\/div>\n
\u201cWe can say, with great pride, that this is an exceptional deal \u2014\u00a0with meaningful gains and protections for writers in every sector of the membership,\u201d the WGA negotiating committee wrote in an email<\/a> to members.<\/p>\n<\/div>\n WGA leadership said details of the agreement couldn\u2019t be shared until its language is finalized; after that, writers will have to vote to approve the deal. The guild said its leaders may end the strike as soon as Tuesday, once the contract is finalized and sent to members for a vote. The guild is suspending picketing immediately.<\/p>\n<\/div>\n The agreement was finalized over several nights of bargaining between the WGA and the Alliance of Motion Picture and Television Producers through the middle and end of the past week.<\/p>\n<\/div>\n Writers may soon be back to work, but without actors, Hollywood productions will likely remain at a standstill. The Screen Actors Guild – American Federation of Television and Radio Artists (SAG-AFTRA), the union that represents around 160,000 members of the entertainment industry, has been on strike since July<\/a>.<\/p>\n<\/div>\n The strikes have forced studios like Netflix and Warner Bros. Discovery to make adjustments to their financial projections. In July, Netflix estimated<\/a> it would have an extra $1.5 billion in free cash flow, while Warner Bros. Discovery lowered<\/a> its earnings expectations by about $300 to $500 million for 2023.<\/p>\n<\/div>\n (Disclosure:\u00a0<\/em>The Verge\u2019s\u00a0editorial staff is also unionized with the Writers Guild of America, East.<\/em>)<\/p>\n<\/div>\n