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Marketplace All-in-One

Tentative deal reached on the Hollywood writers strike

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 25 September 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

The Writers Guild of America reached a proposed contract agreement with Hollywood studios over the weekend. While union members still need to ratify the deal, we’ll dig into the latest developments. Then, a Senate bill could make it easier for legal cannabis businesses to access banking services. And later: the unintended consequences on Russians using crypto.

Transcript

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0:00.0

A tentative deal on the Hollywood writer's strike, plus the unintended consequences of

0:06.6

sanctions on Russians using Bitcoin.

0:08.9

I'm David Brankacheo in New York.

0:11.1

The Hollywood writer's guild is calling a proposed three-year contract agreement exceptional,

0:16.8

but writers and actors will stay on strike until they can get a look at the deal and decide

0:21.2

how to vote on it, Marketplace's Novosafo reports.

0:24.6

The writer's guild of America says it won quote meaningful gains and protections for

0:29.0

writers.

0:30.0

The union had been seeking improvements in pay, higher minimum number of writers working

0:34.1

on shows, and protections on the use of artificial intelligence to create script material.

0:39.3

For now, the two sides are finalizing contract language.

0:42.0

The WGA expects to release details about the agreement in the coming days.

0:46.1

The tentative deal will need to be ratified by members, though in the previous strike

0:49.9

in 2008, more than 90% did approve the deal reached by their union representatives.

0:55.4

The meantime writers can stop picketing, but the union cautions that they remain on strike

0:59.5

as they have been since May 2nd.

1:01.6

As for striking actors who are also concerned about pay, the shift to streaming, and AI,

1:06.9

there's no deal or negotiations yet, SEGAFTRA, which represents them, said it's looking

1:11.3

forward to reviewing the writer's agreement.

1:13.6

I'm Novosafo for Marketplace.

1:15.6

This week, the Senate Banking Committee is set for a hearing on a bill to allow banks

1:19.5

to serve the cannabis industry federal law prohibits that now, which makes life harder

...

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