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US screenwriter strike talks continue past deadline US screenwriters' strike talks averted
(35 minutes later)
Talks to solve a dispute between Hollywood studios and screenwriters which could lead to the first writers' strike in a decade have passed their deadline of midnight Pacific Standard Time (08:00 BST). A deal has been struck to avert a strike by Hollywood film and television writers, according to a union negotiator.
There has been no official word from either side, but reports suggest a compromise is in the works. "Happy to report - we have a deal!" said Billy Ray of the Writers Guild of America on Twitter.
They have been talking since 13 March. The agreement - which has yet to be officially confirmed - came after 01:00 in Los Angeles.
The Writers Guild of America (WGA) wants higher pay per episode and royalties for reruns. It follows marathon talks between the union and representatives of the big Hollywood studios.
The writers' union, which represents about 9,000 people, says its members have been squeezed, as studios commission shows with fewer episodes, but lock up writers with exclusive contracts. They have been negotiating since 13 March.
The union also says writers are not sharing enough of the profits made from online streaming, which keeps shows and movies alive for years after first airing. A previous strike in 2007-08 is estimated to have cost the California economy more than $2bn.
Had the two sides not reached agreement, it could have lead to the first writers' strike since then.
The Writers Guild of America (WGA) wanted higher pay per episode and royalties for reruns.
Costs
The writers' union, which represents about 9,000 people, said its members have been squeezed, as studios commission shows with fewer episodes, but lock up writers with exclusive contracts.
The union also said writers were not sharing enough of the profits made from online streaming, which keeps shows and movies alive for years after first airing.
The union estimates the average salary for TV writer-producers fell 23% in the last two years.The union estimates the average salary for TV writer-producers fell 23% in the last two years.
Writers' Strike: Are US TV shows about to fall off air?
Competition mounts for NetflixCompetition mounts for Netflix
It says its requests would add about $156m in costs for the major production companies, which include firms such as 21st Century Fox and Time Warner.It says its requests would add about $156m in costs for the major production companies, which include firms such as 21st Century Fox and Time Warner.
"The undeniable truth is that these costs are very affordable for these profitable companies," it said in a post on its website.
About 96% of more than 6,000 WGA members voted to strike last week. Some took to social media to express solidarity, changing pictures on Twitter to spotlight their support.About 96% of more than 6,000 WGA members voted to strike last week. Some took to social media to express solidarity, changing pictures on Twitter to spotlight their support.
A strike would first affect topical shows, such as Saturday Night Live, which have enjoyed higher ratings since the election of Donald Trump as President, who has proved an popular target for news satire. A strike would have first affected topical shows, such as Saturday Night Live, which have enjoyed higher ratings since the election of Donald Trump as President, who has proved an popular target for news satire.
Optimism
The impact would be felt more slowly elsewhere.
But analysts said the threat posed by online services, such as Amazon and Netflix, puts pressure on major broadcasters and cable companies to avoid a work stoppage.
The Alliance of Motion Picture and Television Producers, which represents conglomerates such as Comcast Corp, Walt Disney Co and CBS Corp, said last week it is "committed to reaching a deal ... that keeps the industry working."The Alliance of Motion Picture and Television Producers, which represents conglomerates such as Comcast Corp, Walt Disney Co and CBS Corp, said last week it is "committed to reaching a deal ... that keeps the industry working."
Stephen Burke, a Comcast executive, told investors last week he was "optimistic" that the issues would be resolved. At the time of the last writers' strike, online television was in its infancy. Today, Amazon and Netflix are major competitors for eyeballs and have a deep reserve of programmes to buffer them from viewer demands for new content.
"Strikes aren't good for anybody," he said. "The people on both sides of the table tend to lose and I'm hopeful that we're going to get it done."
The last WGA strike - a 100-day stoppage in 2007-2008 - cost the Californian economy an estimated $2.1 billion in lost output, according to a Milken Institute review.
TV viewership dropped 21% in the first week, according to Nielsen figures.
Online television was in its infancy at the time. Today, Amazon and Netflix are major competitors for eyeballs and have a deep reserve of programs to buffer them from viewer demands for new content.
Those companies are not exempt from union demands.
But they would be likely to emerge as big winners in any prolonged strike, which could lead to "lasting changes in viewership patterns", Barclays Capital analyst Kannan Venkateshwar wrote in a research note.
Theodore Sarandos, the chief content officer at Netflix, told investors last month that the firm was "keeping an eye" on the situation and some productions could be held up by a strike.
"Our fingers are crossed that, that won't happen," he said.