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Jobseekers interested in breaking into the film and television industry may have a harder time this year and even in the coming years. The summit covered the media's job landscape at large and how educators can create pathways for young people in it. It's part of Reel Works, an organization that offers an assortment of educational and training programs in the field for underserved youth. U.S. film studios will see a 14% year-over-year decline in content investment in 2024 as a result of the 2023 strikes and the changing film market post pandemic, according to analytics company Ampere Analysis. Ampere also found that the number of scripted TV releases in the US fell from 633 in 2022 and 2021 to 481 in 2023.
Persons: Jobseekers, Tommy O'Donnell, O'Donnell, John Gibson, Kwame Amoaku, David Haddad, Irene Phan, Ampere, we've Organizations: Theatrical Teamsters, Paramount Global, Works, Motion, Association, Haddad's Inc, MBS, CNBC, Writers Guild of America, Screen, American Federation of Television, Radio Artists, Otis College of Art, City, Teamsters, International Alliance, Employees, Ampere, Ampere Analysis Locations: York, Greater Los Angeles, Los Angeles, City and County, New York, U.S
The exterior of the Warner Bros. Two Warner Bros. Discovery directors, Steven Miron and Steven Newhouse, are resigning following a U.S. Department of Justice investigation into a potential antitrust violation, according to a company release Monday. Both of their terms on the Warner Bros. board were set to expire in 2025. Rather than contesting the DOJ matter, the company said both Miron and Newhouse voluntarily elected to resign from their positions, effective immediately.
Persons: Steven Miron, Steven Newhouse, Miron, Newhouse, Rather Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, Warner Bros, Discovery, U.S . Department of Justice, Clayton Antitrust, Advance, Newhouse, DOJ Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, Clayton
After falling out with Kassan, UTA may think twice about buying another agency. The media and ad industry will be watching to see what, if any, leadership changes UTA makes at MediaLink. The end of the ad industry schmoozefest? One industry veteran said they saw Kassan's exit as an opportunity to change how ad industry consultants operate and charge for services. At the center of the dispute between UTA and Kassan is the MediaLink founder's $950,000 annual expense account.
Persons: Michael Kassan, MediaLink, Kassan, Jeremy Zimmer, Kassan wasn't, Vianney Tisseau, headhunting, Jon Miller, Sanford Michelman, Michelman, Robinson, Ethan Miller, Julian Jacobs, David Anderson, WME, Kassan's, Wenda Harris Millard, wasn't, what's, There's, Lou Paskalis, Marc Sternberg's, Lady Gaga, Elton John, Mariah Carey, Tom Brady, Rob Norman, WPP's Organizations: UTA, Cannes Lions, Consumer, Business, Los Angeles Superior Court, Los, Judicial, Mediation Services, Variety Cannes Lions Studio, Integrated Media, Getty, Talent, Accenture, General Motors, Netflix, JUV Consulting, Madison, Endeavor, Writers Guild of America, Zimmer, Western Initiative Media Worldwide, Interpublic Group, Bank of America, AJL, Marc Sternberg's Brand, Kassan, Southwest, NFL Locations: MediaLink, Cannes, France, Madison, Droga5, Hollywood, Kassan, California, South, Austin
Why Power Eludes the French Left
  + stars: | 2024-03-06 | by ( Elisabeth Zerofsky | ) www.nytimes.com   time to read: +1 min
As transit walkouts snarled traffic and sanitation strikes caused trash to pile up in the streets, the protests were ridiculed abroad. Why must the French, among the best-protected workers in the Western world, make such a racket over two years of work? But for the demonstrators, this missed the point: It is because French workers put up a fight that they are protected. France has always been a vanguard of leftist politics. How it fares says much about where the left may be headed and the headwinds it faces, not just in France but throughout the West.
Persons: Samira Organizations: Writers Guild of America, United Auto Workers, UPS Teamsters, National Health Service Locations: Teleperformance, France, United States, Britain
Discovery missed analyst targets for both profit and revenue in the fourth quarter but boosted free cash flow as its streaming service Max ended 2023 profitable for the first time. Discovery generated $3.31 billion in free cash flow in the fourth quarter and ended 2023 with $6.16 billion in free cash flow, up 86% from a year prior. Chief Executive Officer David Zaslav has prioritized boosting free cash flow and shrinking the company's debt. Discovery paid down $1.2 billion of debt in the quarter and $5.4 billion in debt in 2023. Here's what the company reported for the quarter ended Dec. 31, versus analysts' estimates, according to LSEG, formerly known as Refinitiv:
Persons: Max, David Zaslav, Zaslav Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, Warner Bros, Discovery, Max, Disney, Comcast, Paramount Global Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S
The 33 strikes last year is roughly double the average of 16.7 major strikes a year over the course of the last 20 years. A separate database of all work stoppages by Cornell University’s School of Industrial and Labor Relations shows that there were 451 work stoppages in 2023, up 9% from the 2022 total. So the major strikes of 1,000 or more account for less than 10% of the overall number of strikes. So many of the major strikes and contract negotiations that occurred in 2023 will not occur again in 2024. But that doesn’t mean there isn’t a chance of some major work stoppages this year.
Persons: Joe Biden Organizations: New, New York CNN, Labor Department, Bureau of Labor Statistics, SAG, Cornell University’s School of Industrial and Labor Relations, General Motors, Ford, Anheuser, Busch, Teamsters, CNN, Molson Coors, Hollywood, Writers Guild of America, Boeing Boeing, Boeing, Max, Alaska Airlines, Professional, American Airlines, Labor, Railway Labor Locations: New York, America, Fort Worth , Texas, Canada, Hollywood, Washington
When Sampson Dahl, 28, found a former laundromat in Maspeth, Queens on an online forum back in 2019, he had no idea how much the space would become his life. Early last year, CNBC Make It met Dahl after his former laundromat-turned-apartment went viral on TikTok. At the time, he was paying $1,850 a month — his rent has since increased to $1,900. "I've gotten to focus on the space a lot, so I've been throwing shows, events, and intimate gatherings almost weekly at this point," Dahl tells CNBC Make It. "It's been a great opportunity to kind of dive into the space more."
Persons: Sampson Dahl, Dahl, I've, It's Organizations: CNBC, Writers Guild of America Locations: Maspeth, Queens
High-profile strikes by writers and actors against Hollywood brought the union power to the mainstream as pictures of celebrities holding picket signs flooded social media. But one big win continues to elude labor: the need to translate its rising popularity into an increase in rank-and-file union membership, which has stagnated in recent decades. It's not a lack of support from the public that's holding unions back from making more progress in growing their ranks. Even before the big wins of 2023, polling conducted in recent years showed rising union popularity, with support at its highest level since 1965, according to 2022 data from Gallup. 'The Great Reset'In 2023, it was a banner year for American workers who support the labor movement.
Persons: Biden, , Heidi Shierholz, I've, Thomas Kochan Organizations: United Auto Workers, UAW, Local, Chrysler Corporate, Division, Hollywood, UPS, Teamsters, Bureau of Labor Statistics, Union, Economic Policy Institute, Gallup, AFL, CIO, MIT Sloan School of Management, Cornell, ILR, SAG, Writers Guild of America Locations: Ontario , California, American, Michigan, America
The American Federation of Musicians (AFM), a union representing musicians across the entertainment industry, will begin negotiations Monday on a new contract with the Alliance of Motion Picture and Television Producers (AMPTP). The union said it is seeking a deal to better reflects the current state of streaming media. The AFM is also seeking AI protection, increased wages, health care improvements, improved working conditions and residual payments for streaming content. According to the AFM, musicians who record on soundtracks make 75% less on streaming content due to less residual income. And the AFM is not the only union in the entertainment industry which might strike in 2024.
Persons: Los Angeles CNN —, , Tino Gagliardi, , ” Gagliardi, “ We’ve, they’ve, Matthew Loeb, ” Loeb Organizations: Los Angeles CNN, American Federation of Musicians, Alliance, Television Producers, CNN, Federation, Writers Guild of America, Screen, American Federation of Television, Radio Artists, WGA, SAG, International Alliance, Locations: United States, Canada, Los Angeles, Sherman Oaks, California
Emmy Winners: Updating List
  + stars: | 2024-01-15 | by ( Rachel Sherman | ) www.nytimes.com   time to read: +1 min
[Follow live updates of the Emmy Awards here.] The 75th Emmy Awards is underway at the Peacock Theater in Los Angeles. The ceremony is being broadcast live on Fox and streamed live on Hulu + Live TV, YouTube TV, Sling TV and other services. These are this year’s Emmy winners so far. Best Actress, ComedyQuinta Brunson, “Abbott Elementary”Best Actor, ComedyJeremy Allen White, “The Bear”Supporting Actress, ComedyAyo Edebiri, “The Bear”Supporting Actor, ComedyEbon Moss-Bachrach, “The Bear”Supporting Actress, DramaJennifer Coolidge, “The White Lotus”
Persons: Anthony Anderson, , Quinta, “ Abbott, , Jeremy Allen White, Ebon Moss, Bachrach, , Jennifer Coolidge Organizations: Peacock, Fox, Hulu, YouTube, ABC, Writers Guild of America, SAG Locations: Los Angeles
Takeaways from the Emmy Awards
  + stars: | 2024-01-15 | by ( Brian Lowry | ) edition.cnn.com   time to read: +5 min
CNN —After a four-month delay prompted by Hollywood’s twin actors and writers strikes, the 75th annual Emmy Awards finally have their moment in the spotlight. With its trio of technical wins at earlier Emmy presentations, the show drove away with eight awards in all. Brunson became the first Black women recognized as lead comedy actress in more than four decades, since Isabel Sanford of “The Jeffersons.”Quinta Brunson accepting the award for lead actress in a comedy at Monday's Emmy Awards. John Oliver, winner of outstanding scripted variety series with "Last Week Tonight with John Oliver," speaks onstage at Monday's Emmy Awards. Because of the postponement, the Emmys somewhat awkwardly followed the Golden Globes and Critics Choice Awards in rapid succession.
Persons: HBO’s, , Ali Wong, Steven Yeun, Anthony Anderson, Christina Applegate, Carol Burnett, Quinta Brunson, Ayo, “ Abbott, , Brunson, Isabel Sanford of, ” Quinta Brunson, Valerie Macon, Edebiri, Jeremy Allen White, Ebon Moss, Bachrach, , Jennifer Coolidge, Matthew Macfadyen, ” Niecy Nash, Betts, Jeffrey Dahmer, John Oliver ”, Trevor Noah, John Oliver, Elton John, Oscar, Tony –, Sarah Kate Ellis Organizations: CNN, HBO, Netflix, MLK, , Getty, Comedy, EGOTs, Disney, Globes, Fox, NFL, The Television Academy, Writers Guild of America, GLAAD Locations: Isabel Sanford of “, AFP, Noah’s, Hollywood
The 75th Primetime Emmy Awards will air on Monday night after a four-month delay. AdvertisementThe Emmys are back after a four-month delay amid the Hollywood writers and actors strikes last year. Martin Short is nominated for Outstanding Lead Actor In A Comedy Series for his role in Hulu's "Only Murders In The Building." In 2022, Brunson won an Emmy for Outstanding Writing For a Comedy Series for the series, which she created, wrote, and starred in. See the full list of the 2023 Primetime Emmy nominees here.
Persons: , Anthony Anderson, ABC's, Trevor Noah, Brian Cox, HBO's, Bella Ramsey, Martin Short, Quinta Brunson, Brunson Organizations: Service, Hollywood, Writers Guild of America, WGA, SAG, Fox, Hulu, Peacock Locations: Los Angeles
The nominations for the 75th annual Emmy Awards were announced on July 12, 2023. The next day, the Screen Actors Guild voted to go on strike, joining the Writers Guild of America in a work stoppage that shut down Hollywood for months. As a result of the strikes, the Emmys were postponed until January. The ceremony will air on Monday — on the heels of the Golden Globes, in the midst of the N.F.L. Our TV reporter, John Koblin, joins TV editor Jeremy Egner to discuss the competitions to watch on Emmy night, and whether this ceremony might be a turning point for both the Emmys and the era of “peak TV.”
Persons: John Koblin, Jeremy Egner, Organizations: Screen Actors, Writers Guild of America, Golden Globes Locations: Hollywood, Iowa
New York CNN —The longest US auto strike this century is over after a pretty clear win for the United Auto Workers union at all three unionized automakers. “I don’t like what I’ve seen in my work career with the UAW leadership, where they were too damn close to the companies,” UAW President Shawn Fain told CNN earlier this month. So I like to let the body of work speak for itself.”The success of those contracts is the reason that Shawn Fain is CNN Business’ labor leader of the year. All told nearly 800,000 union members got raises of 10% or more during 2023. The plant will be be reopened under the agreement reached between Stellantis and the UAW to end the union's strike at the company.
Persons: Shawn Fain, there’s, Fain, , , I’ve, Sean O’Brien, Fran Drescher, Ted Pappageorge, Bill Greenblatt, Wheaton, Jeff Schuster, It’s, Stellantis, Bianca Flowers, Reuters “, Ray Curry, GlobalData’s Schuster, ” Shawn Fain, we’re Organizations: New, New York CNN, United Auto Workers, UAW, CNN, CNN Business, UPS, SAG, Writers Guild of America, Culinary, Kaiser Permanente, General Motors, Ford, Motors Wentzville, GM, UPI, Cornell University’s School of Industrial and Labor Relations, GlobalData, Jeep, Reuters, Justice Department, Chrysler, Facebook, UAW International Union Locations: New York, Las Vegas, Stellantis, Wentzville , Missouri, Kokomo , Indiana
New York CNN —Members of SAG-AFTRA, the Hollywood actors union, have ratified a new contract with the Alliance of Motion Picture and Television Producers, which represents major studios and streamers, the union said on Tuesday. Hollywood actors and producers reached the tentative deal on November 8, after tumultuous negotiations throughout the year. The actors union strike ended on midnight after the deal was tentatively reached, tentatively concluding one of the most disruptive strikes in Hollywood’s history. But the actors’ contract negotiations didn’t last long, breaking down on October 11 before returning later in the month. On Wednesday, November 8, the actors union announced they had reached a tentative agreement, allowing actors to soon return to work.
Persons: Fran Drescher, ” AMPTP, Drescher, Bryan Cranston, , AFTRA, Justine Bateman, Matthew Modine —, , we’re, Caitlin Dulany, you’re, Dulany, Bloods ” Organizations: New, New York CNN, SAG, Hollywood, Alliance, Television Producers, Writers Guild of America, didn’t, CNN, LA, AMPTP, Abbott, Bloods Locations: New York
Stephen Colbert moderates a panel on the Prime Video streaming series The Lord of the Rings: The Rings of Power at Comic-Con International in San Diego, California, U.S., July 22, 2022. REUTERS/Bing Guan/File Photo Acquire Licensing RightsLOS ANGELES, Nov 27 (Reuters) - Production of "The Late Show with Stephen Colbert" was canceled this week as the top-rated U.S. late-night television host recovers from surgery for a ruptured appendix, the CBS program announced on Monday. "Sorry to say that I have to cancel our shows this week. Actually, I’m recovering from surgery for a ruptured appendix," he wrote. Reporting by Steve Gorman in Los Angeles; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.
Persons: Stephen Colbert, Bing Guan, Colbert, Evie, Ed Sullivan, Jennifer Garner, Baz Luhrmann, Jon Batiste, Patrick Stewart, Barbra Streisand, Kelsey Grammer, Variety, Steve Gorman, David Gregorio Our Organizations: Power, Con, REUTERS, CBS, Writers Guild of America, Thomson Locations: San Diego , California, U.S, Turkey, Manhattan, Hollywood, Los Angeles
NEW YORK (AP) — Oscar-winning actor Susan Sarandon and “Scream” star Melissa Barrera were each dropped by Hollywood companies after making comments on the Israel-Hamas war that some deemed antisemitic. Jenna Ortega, who played Barrera’s sister in the two previous “Scream” films, is reportedly not returning, Deadline reported Wednesday. A spokesperson for Ortega didn’t immediately respond to queries. Political Cartoons View All 1265 ImagesA spokesman for the United Talent Agency said Sarandon, the five-time Oscar nominee, is no longer represented by the agency. Israel and Hamas on Wednesday agreed to a four-day cease-fire in the war in Gaza.
Persons: — Oscar, Susan Sarandon, Melissa Barrera, , , Spyglass, Barrera didn't, Jenna Ortega, Ortega, Ortega didn’t, Sarandon, Oscar, she's, Maha Dakhil, Israel, Dakhil Organizations: Hollywood, Spyglass Media Group, United Talent Agency, UTA, New York Post, The, Writers Guild of America, Creative Arts Agency, Hamas Locations: Israel, , Gaza, New York, Palestine
New York CNN —For over a year, the red-hot housing market has been at the mercy of the Federal Reserve’s rate hikes, which have driven mortgage rates to sky-high levels. Mortgage rates have hovered above 7% since August, according to Freddie Mac data. Both those factors have helped create a scorching-hot housing market and a boom in homebuilder stocks, as Americans turned to building as a buying alternative. Moderating bond yields could change the narrative for the housing market. Tight supply and elevated mortgage rates this year made home purchases the least affordable they’ve been since 1984.
Persons: Bell, Freddie Mac, Toll, DR Horton, Lennar, Price, Steve Sosnick, , John Petrofsky, Chris Isidore, Danielle Wiener, Bronner, haven’t, Clare Duffy, Donie, Meta Organizations: CNN Business, Bell, New, New York CNN, Homeowners, DR, Federal, Treasury, Interactive, National Association of Home Builders, FBB Capital Partners, Starbucks, United Auto Workers, SAG, Writers Guild of America, Starbucks Workers United, Facebook, Street, Washington Post Locations: New York, Wells Fargo, Buffalo , New York, United States, Brazil, Israel, Italy
But the union said the limited duration strike on a key promotion day for Starbucks is important in its efforts to win their first contract at the chain. The union, Starbucks Workers United, won its first representation vote at the company in December 2021, at a store in Buffalo, New York. But many of the stores on strike remained open in past strikes, because management replaced the unionized striking workers with workers from nearby non-union stores and managers. That’s possible because of the close proximity of many Starbucks stores to one another. The union earlier this fall filed an unfair labor practice charge with the NLRB over Starbucks’ refusal to bargain around promotion days.
Persons: haven’t, Moe Mills, Mills, , ” Mills, Organizations: New, New York CNN, Starbucks, United Auto Workers, SAG, Writers Guild of America, Starbucks Workers United, CNN, National Labor Relations Board, NLRB, Red, Kaiser Permanente, Los Angeles, Teamsters, UPS, Michigan, Boeing Locations: New York, Buffalo , New York, St, Louis , Missouri, Kaiser, Detroit, East Coast
SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Walt Disney Studios in Burbank, California, U.S., August 22, 2023. Striking writers and actors slashed spending, burned through savings and piled up debt to survive. Sets for movies and TV shows are lighting up again as studios rush to resume filming. Still, Hollywood is unlikely to return to the frenzied production pace of the streaming wars, when studios competed for subscribers and cachet. Hollywood actors won similar gains in a tentative agreement reached with the studios on Nov. 8.
Persons: Mario Anzuoni, caterers, Wall, Celia Finkelstein, ” Finkelstein, , Serena Kashmir, , Fran Drescher, Kevin Klowden, ” Klowden, Long, Marc Meyer Jr, I’ve, Meyer, Guy Bisson, Neil Begley, Ampere, Dawn Chmielewski, Danielle Broadway, Lisa Richwine, Mary Milliken, David Gregorio Our Organizations: Writers Guild of America, Walt Disney Studios, REUTERS, Companies Comcast Corp, Fox, Netflix, Hollywood, Reuters, WGA, SAG, Milken Institute, Sony Pictures, Disney, Global, Ampere, Moody’s, Companies, , Thomson Locations: Burbank , California, U.S, California, Georgia, New Mexico, Hollywood, ” Kashmir, Kashmir, Colorado, North Hollywood, Los Angeles
Fain’s sermonette underscores a trend that has largely gone unnoticed: The Social Gospel movement is making a comeback. Jemal Countess/Getty ImagesIt might sound like hyperbole to say that this resurgent form of the Social Gospel is changing our politics. He reached deep into the Social Gospel throughout the UAW strike, routinely deploying what one commentator called “strikingly Christian rhetoric.”Christopher H. Evans, author of “The Social Gospel in American Religion: A History,” said he heard the Social Gospel in Fain’s UAW speeches. “It (The Social Gospel) won’t have the institutional muscle it had before, but you could still have these voices and followers.”The climate in contemporary America seems ripe for the Social Gospel message. And the soaring optimism of old Social Gospel reformers may now seem as outdated as wobbly black-and-white silent films.
Persons: CNN —, Shawn Fain, Fain, ” Fain, Matthew, Jesus, , Moses, Paul, Stellantis, Fain’s sermonette, don’t, Frederic J . Brown, John D, Rockefeller, , pulpits, didn’t, Charles Sheldon, Fain’s, that’s, Democratic Sen, Raphael Warnock, Cornel West, William Barber II, Liz Theoharis, Matthew Desmond, Martin Luther King, William Barber, Jemal Countess, ” Christopher H, Evans, Heath W, Carter, Luke, Sen, Warnock, Barber, Desmond, Amir Levy, it’s, ” It’s, you’re, ” Evans, Dom Helder Camara, Rebecca Cook, Reuters “ There’s, won’t, , John Blake Organizations: CNN, Big Three, United Auto Workers, UAW, General Motors, Ford Motor Company, Chrysler, Writers Guild of America, UPS Teamsters, UPS, Getty, Democratic, US, Big Tech, Boston University, ” Mining, Library, , Princeton Theological Seminary, Yale Divinity School‘s Center, Public Theology, Ivy League, The New York Times, Social, Reuters, Teamsters, Screen Actors Guild Locations: Jerusalem, America, Los Angeles, AFP, Washington, Kingston , Pennsylvania, Chicago, , American City, American, Lower Manhattan, New York City, Brazilian, Detroit
LOS ANGELES (AP) — The Daytime Emmys are back on after being postponed by the Hollywood writers' strike. The Daytime Emmys, originally set for June 16, were postponed in May because of the strike by the Writers Guild of America. The actors union joined the writers' strike on July 14 and ended their labor action late Wednesday. Soap actor Susan Lucci will receive her lifetime achievement award at the ceremony at the Westin Bonaventure hotel in downtown Los Angeles. Political Cartoons View All 1240 Images___For more coverage of the actors and writers strike, visit: https://apnews.com/hub/hollywood-strikes/
Persons: Kevin Frazier, Nischelle Turner, Susan Lucci, , Adam Sharp Organizations: ANGELES, Hollywood, CBS, Paramount, “ Entertainment, Writers Guild of America, Westin Bonaventure, National Academy of Television Arts & Sciences Locations: Los Angeles, hollywood
To studio executives who negotiated with the SAG-AFTRA president, the former star of "The Nanny" prolonged a strike while she relished her high-profile role. As president of the 160,000-member SAG-AFTRA union, Drescher won widespread praise from performers for her tenacity in fighting for better wages and protections against the rising threat of artificial intelligence technology. Drescher framed her actions as part of a broader labor movement battling Corporate America, where, in her view, executives place Wall Street's approval and their own compensation ahead of the welfare of workers. Studio executives, who declined to criticize Drescher publicly to avoid inflaming labor talks, said the 66-year-old Drescher delivered similar unvarnished critiques to industry leaders during closed-door negotiations. "Her interest as the union president is to see all performers, from background to the top 2%, succeed in a vibrant industry for the next century and beyond."
Persons: Fran Drescher, Duncan Crabtree, Fran Fine, Drescher, Kate Bond, Jill Morgan, AFTRA, Wall, Norma Rae, Ivy Kagan Bierman, Loeb & Loeb, Shari Belafonte, Belafonte, Bob Iger, Ted Sarandos, Kimberly Westbrook, Fran, Westbrook, Justine Bateman, Alex Plank, Bobby Cannavale, Robert De Niro, Ezra, She's, Plank, Dawn Chmielewski, Lisa Richwine, Mary Milliken, Rosalba O'Brien, Gerry Doyle Organizations: SAG, Writers Guild of America, Hollywood, Netflix, Broadway, CBS, Corporate America, Loeb &, NBC, Walt Disney, Amazon Studios, Thomson Locations: Los Angeles , California, U.S, ANGELES, Queens, Ireland
Warner Bros Discovery (WBD.O) and Paramount Global (PARA.O) gained 3% each, Netflix (NFLX.O) rose marginally, while Walt Disney (DIS.N) jumped 4%, as it also benefited from strong earnings and a plan to cut more costs. The writers, who had gone on strike before the actors in spring, returned to work in late September, but most productions remained halted as the actors were on picket lines. "Its certainly a very encouraging sign the chasm that opened up between actors, writers and studios can finally be closed and work begin in earnest on re-starting productions," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. Streeter warned that "it's going to take considerable time before new movies, in particular, will appear on screens given the lengthy post-production process." Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Persons: Alyssa Pointer, Walt Disney, Susannah Streeter, Hargreaves Lansdown, Streeter, Samrhitha, Shinjini Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, Paramount Global, Netflix, SAG, Hargreaves, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Hollywood, Bengaluru
Hollywood is poised to get back to workAfter months of strikes that shut down most of Hollywood, the end appears in sight. The SAG-AFTRA union that represents some 160,000 members tentatively agreed to a new contract with media giants that, if approved, will reinvigorate the $134 billion American movie and television business. Union members are hopeful that the deal will bring significant financial concessions that made SAG-AFTRA’s longest-ever strike worth it. But the changing economics of Hollywood may temper some gains, echoing the dilemma facing resurgent unions elsewhere in the country. Led by the actress Fran Drescher, of “The Nanny” fame, SAG-AFTRA took a maximalist negotiating approach that involved accusing studios of plutocracy and belittling their bosses.
Persons: Fran Drescher, , AFTRA Organizations: Hollywood, SAG, Writers Guild of America Locations: Hollywood, plutocracy
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