Hollywood Actors and Studios Reach Deal to End Strike Transcript

Union.

Power.

Union.

Power.

Union.

Power.

Union.

Power.

Yay.

Hollywood actors celebrating tonight. At long last, SAG-AFTRA and Hollywood Studios reach a tentative deal to end the longest strike ever for film and television actors. The negotiations have been ongoing for 118 days, but intensified last week when the studios presented what they were calling their last, best, and final offer.

The tentative agreement brings an end to a strike that brought the entertainment industry to a standstill. KTLA’s John Fenoglio joins us live in North Hollywood with more. John.

Cher and Micah, the mood here tonight is jubilant, spirits are high, all of this. Now that the SAG-AFTRA strike appears to have come to an end, members have been inside Lawless Brewing Company here in North Hollywood all night long singing, celebrating essentially what they say is a hard fought battle for a fair wage.

(01:05)
High spirits across Hollywood tonight after the SAG-AFTRA Actors Union announced it had reached a tentative agreement with major film and TV studios and streaming companies.

When I say, “Union,” you say, “Power.” Union.

Power.

Union.

Power.

My brain is exploding. This has been such a long journey. For SAG, it was 118 days. For WGA, it was 148. I’ve been on strike in some form since May 2nd.

Details of the tentative deal have not been released, but as of 12:01 AM Thursday, the strike will be over. The strike upended the business of Hollywood for 118 days. SAG-AFTRA members say they’ve been fighting for a living wage.

It’s been pretty difficult. Many people have lost homes, have lost cars, have lost incomes, have really had to struggle to make ends meet. It’s been very difficult for many people mentally, physically, spiritually. But part of what has been one of the most rewarding experiences has been seeing so much creativity on the line.

The impact to the local economy, devastating.

We’ve seen a hit to the California economy of $6.5 billion and counting. And perhaps in many ways, more importantly, and on a personal level, we’ve seen over 45,000 entertainment industry jobs lost.

No word from the Alliance of Motion Picture and Television Producers, which represents the studios. Industry experts say there may be some acrimony between the two sides as Hollywood gets up and running again.

One studio exec called this a pyrrhic victory for them. And they’re … They have been grumbling about how they feel like Hollywood has been significantly damaged by this and will only know in the months to come and the years to come.

SAG-AFTRA releasing a statement saying, in part, “In a contract valued at over $1 billion, we have achieved a deal of extraordinary scope that includes above pattern minimum compensation increases, unprecedented provisions for consent and compensation that will protect members from the threat of AI, and for the first time establishes a streaming participation bonus. Our pension and health caps have been substantially raised, which will bring much needed value to our plans. In addition, the deal includes numerous improvements for multiple categories, including outsize compensation increases for background performers, and critical contract provisions protecting diverse communities.”

(03:25)
All right. This tentative agreement must still be ratified by SAG-AFTRA’s board, and of course its many members. All of this, though, industry insiders say is expected to get done soon. Insiders say both sides just want to get back to work and get Hollywood back open for business. We’re live in North Hollywood. I’m John Fenoglio. KTLA 5 News.

All right, John. Thank you for that.