Major studio heads talk about ending the Hollywood strike

The end of the Hollywood strike may be coming soon as major studio heads join the conversation and continue to meet to discuss a substantial deal between the two.

High-level negotiations between Hollywood writers and producers and major studio heads entered their second day on Thursday, and the two sides planned to meet again on Friday. This suggests that an agreement to end the strike that has immobilized the entertainment industry may be imminent.

The negotiations were "productive" on Wednesday, according to a source close to the situation, and there was optimism for "more progress" as high-ranking executives attended the talks for the first time since the strike's inception many months ago.

The main studios and streaming providers are represented by the AMPTP, a trade association. (The association represents NBCUniversal, which is NBC News' parent company.)

Top AMPTP employees and labor relations officials have been in charge of negotiations up until now, but studio heads, such as Disney's Bob Iger and Netflix's Ted Sarandos, have recently joined them, the source claimed, indicating a potentially significant change.

According to CNBC, the two parties wanted to seal the deal on Thursday.

Since early May, WGA members have been on strike. In a second conflict in July, actors joined the picket line, which halted production on numerous Hollywood television programs and motion pictures.

The main points of contention have been pay, working conditions, writers' demands for higher residuals — the term used in the industry for royalties — and stricter regulations against the use of AI.