Hollywood actors agreed to extend talks with major studios, averting a potential second labor strike in the entertainment industry this summer
The SAG-AFTRA union and the Alliance of Motion Picture and Television Producers said they would extend their current contract, which had been set to expire at midnight, through July 12.
The letter came days after union negotiators issued a video saying their talks had been "extremely productive," a possible sign that a deal was within reach. Negotiations were taking place during a difficult time for Hollywood studios. Conglomerates are under pressure from Wall Street to make their streaming services profitable after pumping billions of dollars into programming to attract subscribers.walkout
Leaders of SAG-AFTRA, which represents 160,000 actors, and the WGA say the entertainment industry has changed dramatically with the rise of streaming television and the emergence of technology such asThe AMPTP, which negotiates on behalf of the studios, has declined to comment about its talks with SAG-AFTRA. The two sides have agreed to keep negotiating without discussing the talks with the media, according to a joint statement on Friday.
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