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Studios Take Step Back To Avoid WGA Strike

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Oct 16, 2007 8:22 pm US/Pacific

Studios Take Step Back To Avoid WGA Strike

LOS ANGELES (CBS) ― Hollywood studios say they will take a divisive demand involving residual payments off the table in contract talks with writers in hopes of avoiding a costly strike.

Studios will no longer demand that they recoup their entire investment in films or TV shows before sharing any of the revenue with writers in the form of residuals.

Members of the Writers Guild of America had called that demand a deal-breaker and threatened to walk out when their contract expires Oct. 31.

Both sides called the move a positive step in contentious talks that have made little progress so far.

Studios reiterated, however, that they will not increase residual payments to writers from sales of DVDs or other sources.

(© 2007 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

© MMIX, CBS Broadcasting Inc. All Rights Reserved.