FILE PHOTO: SAG-AFTRA members walk the picket line during their ongoing strike outside Sony Studios in Culver City, California, U.S. September 29, 2023. REUTERS/Mario Anzuoni/File Photo
While film and television writers have ended their 148-day work stoppage, talks between actors and studios broke down last week and both sides said they remain far apart on many issues with no negotiations scheduled. One film financier shifted investment strategies as Hollywood’s work stoppage stalled several big-budget studio projects, backing productions outside of North America instead, including director Guy Ritchie’s next film starring Jake Gyllenhaal and Henry Cavill, which is shooting in Spain.
WINTER IS COMING Among the hardest hit are independent production companies, whose lifeblood comes from delivering movies and television shows. After taking a series of cost-cutting measures, like curtailing travel and entertainment, they are contemplating layoffs, say several executives at the companies. Some have sold rights to film and television libraries to keep the lights on, one buyer told Reuters.
Source: Entertainment Trends (entertainmenttrends.net)
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