The daily business briefing: November 9, 2023

Actors and studios reach a deal to end strike, Disney reports better-than-expected quarterly profit, and more

SAG-AFTRA head Fran Drescher
SAG-AFTRA head Fran Drescher and other strike leaders
(Image credit: David Livingston / Getty Images)

1. Actors, Hollywood studios reach deal to end strike

SAG-AFTRA, the union representing striking actors, reached a tentative agreement with Hollywood studios on Wednesday to end the 118-day actors strike. A SAG-AFTRA committee approved the proposed three-year contract deal unanimously, ending the strike at 12:01 a.m. Thursday. The union's national board will sign off on Friday. The agreement cleared the way "for the $134 billion American movie and television business to swing back into motion," The New York Times reported. The proposed contract includes pay increases, a "streaming participation bonus" and regulations on the use of artificial intelligence. Concerns about potential use of AI to create digital replicas of actors' images without pay or consent was a key issue in the walkout. The Hollywood Reporter, The New York Times

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.