Hollywood Writers' Strike Ends with Tentative Deal, Boosting Stocks

The Writers Guild of America (W.G.A.) has reached a tentative agreement with Hollywood studios on a new contract, ending a 146-day strike by over 11,000 screenwriters. The deal, which is expected to be voted on by members on Tuesday, includes provisions for residual payments from streaming, minimum staffing of shows, and limits on the use of artificial intelligence. The strike, coupled with the SAG-AFTRA walkout, has caused significant financial losses for studios, with estimates suggesting they could lose up to $1.6 billion in global ticket sales. The success of the W.G.A. in securing favorable terms reflects the growing strength of unions and organized labor in various industries.