The Strike Is Over! The strike by the actors' guild, SAG-AFTRA, has ended after 118 days, with a tentative deal reached between the guild and the studios. The strike officially ends at 12:01 a.m. PT on Thursday, November 9, marking the end of more than seven months of labor unrest in Hollywood. This strike saw both the Writers Guild and SAG-AFTRA participating in the industry's first joint strike in over 60 years.

Specific details of the new contract have yet to be revealed and are expected to be disclosed when the agreement goes to the board for review.

The negotiations were marked by the involvement of high-profile industry figures, including Netflix's Ted Sarandos, Disney's Bob Iger, NBCUniversal's Donna Langley, and Warner Bros Discovery's David Zaslav, who participated directly in the talks.

The studios responded to the guild's counteroffer with what they described as a "historic" package. The deal was accelerated with an expanded group of studio leaders, including executives from Paramount, Amazon, and Apple, briefing SAG-AFTRA on the Alliance of Motion Picture and Television Producers' (AMPTP) offer, which included significant wage and bonus increases and AI protections.

The strike's conclusion came at a critical time, with the AMPTP urging a swift resolution to save the broadcast season and the 2024 summer movie slate.

If the board signs off on the tentative deal, eligible members of SAG-AFTRA will soon vote to ratify the new agreement, potentially allowing work to resume quickly in Hollywood.

The strike had a significant economic impact, costing the Southern California economy more than $6.5 billion and affecting 45,000 entertainment industry jobs. It also highlighted the unity of guild members but also the financial hardships faced by many during the strike.

The negotiations had several ups and downs, with disruptions and disagreements along the way. It took around 80 days before the first official face-to-face talks between SAG-AFTRA and the studios, with the AMPTP leaving negotiations early at one point. The strike passed the 100-day milestone without a resolution until Bob Iger intervened and negotiations resumed.

The WGA's successful negotiations provided momentum for SAG-AFTRA, and they eventually reached a tentative agreement after months of deliberations. The strike had raised concerns about the impact on the broadcast networks' season and the 2024 movie slate.