By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Markets > Stocks > Hollywood directors ratify labor pact as writers keep picketing
Stocks

Hollywood directors ratify labor pact as writers keep picketing

News Room
Last updated: 2023/06/24 at 6:07 AM
By News Room
Share
3 Min Read
SHARE

© Reuters. FILE PHOTO: People stand above the Hollywood sign under a cloudy sky in Los Angeles, California, U.S., May 31, 2023. REUTERS/Mike Blake/File Photo

By Lisa Richwine and Steve Gorman

LOS ANGELES (Reuters) – Film and television directors voted overwhelmingly to ratify a new three-year labor contract with major Hollywood studios on Friday, averting a second work stoppage that would have added to upheaval caused by an ongoing writers’ strike.

The Directors Guild of America (DGA) said 87% of those voting supported the deal with the Alliance of Motion Picture and Television Producers (AMPTP), a group that represents Walt Disney (NYSE:) Co, Netflix Inc (NASDAQ:) and other major studios.

The DGA represents 19,000 directors, assistant directors and others who work on film and TV productions.

The 41% turnout level, with 6,728 members out of 16,321 eligible voters casting ballots, exceeded any prior DGA ratification vote, the union said on its website.

In the new labor pact, members secured base wage increases starting at 5% the first year, an increase in residual payments from streaming, and a guarantee that generative artificial intelligence (AI) “cannot replace the duties performed by members.”

AI also has emerged as a major concern of writers and actors, who see their jobs as especially vulnerable to the new technology.

The Writers Guild of America (WGA) has been on strike since May 2, shutting down several TV and film projects such as a new season of “Stranger Things” and a “Game of Thrones” spinoff.

There are no new contract talks scheduled between the WGA and studios, whose dispute has largely centered on changes to show business brought about by the streaming boom.

During the last WGA strike in 2007 and 2008, a studio deal with the DGA prompted writers to head back to the bargaining table. Striking writers have insisted that the directors’ latest deal will not influence their position this time.

Hollywood actors, meanwhile, are in the middle of their own labor talks with studios. Members of the SAG-AFTRA actors union have given their negotiators the power to call a strike if they cannot agree on a new contract by June 30.

(This story has been refiled to correct a typographical error in paragraph 4)

Read the full article here

News Room June 24, 2023 June 24, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
We Saw Lucid’s Turnaround Plan And The Stakes Are Huge

Watch full video on YouTube

Alexis Ohanian is a ‘tech optimist’ when it comes to his daughter and AI. 🤖

Watch full video on YouTube

SETM: Why This ETF Should Be Read As A Cyclical Mining Play (NASDAQ:SETM)

This article was written byFollowFinancial Serenity is a financial analysis and quantitative…

Gold and silver hit record highs on geopolitical tensions

Gold and silver prices rose to record highs on Monday as geopolitical…

Why Build-A-Bear Is Quietly Crushing The Market

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

CPS reports solid 2023 performance, eyes future growth By Investing.com

By News Room
Stocks

Niu Technologies faces mixed results in Q4 2023 By Investing.com

By News Room
Stocks

Exagen Inc. reports strong 2023 revenue growth By Investing.com

By News Room
Stocks

Legacy Housing reports mixed results amid sales decline By Investing.com

By News Room
Stocks

Harmony Biosciences exec sells over $383k in stock By Investing.com

By News Room
Stocks

Biofrontera posts record revenue and outlines growth plans By Investing.com

By News Room
Stocks

Granite Ridge CFO buys $31,000 in company stock By Investing.com

By News Room
Stocks

Coliseum Capital Management buys MasterCraft Boat shares worth over $3.2m By Investing.com

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?