Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Striking Hollywood actors pass counteroffer ahead of further talks with studios

Published 10/27/2023, 12:39 AM
Updated 10/27/2023, 10:57 AM
© Reuters. FILE PHOTO: SAG-AFTRA members walk the picket line on the 100th day of their ongoing strike outside Paramount Studios in Los Angeles, California, U.S., October 20, 2023. REUTERS/Mario Anzuoni/File Photo
DIS
-
NFLX
-

(Reuters) -Striking Hollywood actors have made a comprehensive counteroffer to the major studios, the SAG-AFTRA performers' union said in a post on social media platform X.

Negotiators for the union and the Alliance of Motion Picture and Television Producers (AMPTP), the group representing Walt Disney (NYSE:DIS) Netflix (NASDAQ:NFLX) and other major media companies, meet again on Friday, the actors union said.

Ahead of Friday's talks, a group of SAG-AFTRA members published an open letter to the union leadership, urging the negotiating committee to continue fighting for improved compensation, royalties and workplace protections.

"We have not come all this way to cave now," wrote the group calling itself Members In Solidarity. "We have not gone without work, without pay, and walked picket lines for months just to give up on everything we’ve been fighting for."

The latest counteroffer submitted by the actors union on Thursday comes after media companies and the union representing striking U.S. actors returned to the bargaining table on Tuesday.

© Reuters. FILE PHOTO: SAG-AFTRA members walk the picket line on the 100th day of their ongoing strike outside Paramount Studios in Los Angeles, California, U.S., October 20, 2023. REUTERS/Mario Anzuoni/File Photo

Earlier this month, negotiations between Hollywood studios and SAG-AFTRA were suspended as the two sides clashed over streaming revenue, the use of artificial intelligence and other issues at the core of a three-month work stoppage.

Members of SAG-AFTRA, which represents 160,000 actors and other media professionals, have been on strike since July. The work stoppage has scrambled next year’s film slate and delayed the return of primetime television comedies and dramas. It also has created hardships for crew members, who have been out of work for months.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.