WGA and Hollywood studios are allegedly close to ending their months-long strike

According to numerous media reports, contract negotiations between the studio representatives and the striking Writers Guild of America are scheduled to resume on Sunday. Industry observers believe that this is the "final phase" of negotiations that could lead to the resolution of a months-long strike that has severely damaged the entertainment sector.

The two parties convened on Saturday from approximately 10 a.m. to 6 p.m.; lawyers were reportedly present to examine the wording and "finer points" of the anticipated three-year agreement.

Following that, on Saturday night, the WGA and AMPTP jointly released a statement indicating that they will reconvene on Sunday for the sixth day in a row of talks.

For the first time since mid-August, WGA and AMPTP representatives met on Wednesday. Since then, they have met every day.

The so-called "Gang of Four" major studio executives, Ted Sarandos of Netflix, Bob Iger of Disney, Donna Langley of Universal, and David Zaslav of Warner Bros./Discovery, were present at the negotiations on Friday and have remained involved.

The SAG-AFTRA actors' union joined the writers on the picket line in July after they embarked on a walkout on May 2. Since the start of that strike, there have reportedly been no contract negotiations between the studios and SAG-AFTRA.

Both unions are advocating for compensation increases, especially for residuals from popular streaming programs, and safeguards against the use of artificial intelligence.