WBD - Hollywood strike may end soon as writers studios return to bargaining table

2023-09-21 05:22:55 ET

The Hollywood strike could soon end as writers and major studios met face to face on Wednesday, with sources telling CNBC that they are close to reaching an agreement.

The Writer's Guild of America ( WGA ) and the Alliance of Motion Picture and Television Producers (AMPTP) said in a joint statement that they will meet again on Thursday.

The two sides aim to finalize a deal by then, the sources said , although the strike could extend through the end of the year if a deal is not reached.

Members of WGA have been on strike since May, with actors joining the picket lines in July in a historic double strike .

The walkouts have halted production of several TV shows and films, including Netflix's ( NFLX ) highly popular Stranger Things , Disney ( DIS ) and Marvel's Blade and Paramount's ( PARA ) Evil .

AMPTP represents major studios including Amazon ( AMZN ), Apple ( AAPL ), Disney ( DIS ), NBCUniversal ( CMCSA ), Netflix ( NFLX ), Paramount ( PARA ), Sony ( SONY ) and Warner Bros. Discovery ( WBD ).

More on Hollywood strike

• Netflix: Take Your Profit Amid Hollywood Writer Strike
• Should studios cut streamers out of strike negotiations?
• Warner Bros Discovery sees lower adj. EBITDA due to strike
• No end in sight? New attempt by Hollywood CEOs to resolve strikes
• Writers' strike drags on for 100 days with no end on the horizon

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