Studios, and writers are said to be close to a deal

Hollywood writers and producers may be close to reaching an agreement to end a strike that has paralyzed the entertainment industry The high-level talks enter their second day on Thursday with the heads of the major studios now sitting at the table.

A source close to the negotiations told NBC News that Wednesday’s talks were “productive” and that there was hope for “further progress” as high-level executives attended the negotiations for the first time since the strike began months ago.

On Wednesday night, the Writers Guild of America and the Alliance of Motion Picture and Television Producers issued a joint statement saying the two sides met to bargain and plan to meet again the next day.

AMPTP is a trade group that negotiates with major studios and streaming services. (The group represents NBCUniversal, the parent company of NBC News.)

The source said talks so far have been led by senior AMPTP staff and labor relations representatives, but studio heads including Disney’s Bob Iger and Netflix’s Ted Sarandos have now taken a seat at the table, signaling a potential major shift.

CNBC reported that the two sides hope to reach an agreement on Thursday.

WGA members have been on strike since early May, and actors joined the picket line in July in a separate dispute, halting production of several Hollywood television shows and films.

The dispute centered on issues including wages, working conditions, writers’ demands for increased royalties for their work, known in the industry as residuals, and stricter protections against artificial intelligence.

The strikes have put many rank-and-file members in precarious financial situations and brought the industry to a virtual standstill.

Among the shows and movies affected are “Gladiator 2” and “Mission: Impossible — Dead Reckoning Part Two,” as well as hit shows “Stranger Things” and “Yellowstone.”

Some independent films have obtained union waivers to continue filming, while Drew Barrymore and Bill Maher earlier this month backed off plans to resume production of their talk shows amid the strike.

Barrymore said she decided to press “pause” on the decision to resume production after facing backlash over the plan.

“I have listened to everyone and am making the decision to pause the series premiere until the strike ends,” Barrymore wrote. I have no words to express my deepest apologies to anyone I have hurt, and of course to our amazing team who work on the show and made it what it is today.

Likewise, Maher said he would delay production regarding the hits after his show “Real Time with Bill Maher” was scheduled to resume production.

“I made the decision to return to work when it seemed like nothing was happening and there was no end in sight to this strike,” Maher wrote on X, formerly known as Twitter. “Now that both sides have agreed to return to the negotiating table, I will postpone the real-time return, for now, and hope they can finally get it done.”

Not only did the strike affect Hollywood workers and viewers, but concerns were also growing about its economic impact. In a recent Securities and Exchange Commission filing, Warner Bros. said: Discovery says it assumes it will be “adversely impacted” by the strikes to the tune of $500 million.