President Biden has released a statement regarding the tentative agreement between the Alliance of Motion Picture and Television Producers and the Writers Guild of America.
"I applaud the Writers Guild of America and the Alliance of Motion Picture and Television Producers for reaching a tentative agreement that will allow writers to return to the important work of telling the stories of our nation, our world – and of all of us. This agreement, including assurances related to artificial intelligence, did not come easily," the statement reads.
The tentative agreement was announced by the labor union Sunday night.
After nearly five months on strike, the WGA Negotiating Committee said it has potentially made a deal with studios, streaming services and production companies, and suspended picketing.
WRITERS GUILD OF AMERICA REACHES TENTATIVE AGREEMENT WITH HOLLYWOOD STUDIOS, SUSPENDS PICKETING
The agreement must be approved by the guild’s board and members before the strike officially ends, and that could happen this week.
Though specific details have not yet been made public, the WGA said the agreement is "exceptional – with meaningful gains and protections for writers in every sector of the membership."
Actors remain on strike, but movement on the writers’ demands could mean that the actors will find a resolution soon as well.
The WGA said while picketing is suspended, the strike is ongoing and "no one is to return to work until specifically authorized." It encouraged writers to join actors this week on the SAG-AFTRA picket lines.
The writers strike began May 2 when approximately 11,500 WGA members walked off the job in protest of better pay, the size of staff on shows and the use of AI in scripts, marking the first screenwriters strike since 2007 and the longest since 1988.
WRITERS GUILD OF AMERICA TO STRIKE FOR FIRST TIME IN 15 YEARS AFTER FAILED NEGOTIATIONS WITH STUDIOS
Media and entertainment companies got a small boost from the news, according to The Associated Press. Shares in Warner Bros. Discovery, Paramount, Disney and Netflix all rose about 2% or less on Monday.
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"There simply is no substitute for employers and employees coming together to negotiate in good faith toward an agreement that makes a business stronger and secures the pay, benefits and dignity that workers deserve," Biden stated. "I urge all employers to remember that all workers – including writers, actors and autoworkers – deserve a fair share of the value their labor helped create."
FOX Business' Elizabeth Pritchett and The Associated Press contributed to this report.
