The last time talks failed, in 2007, cost the Los Angeles entertainment industry around $2 billion
LOS ANGELES – Hollywood faced a cliffhanger moment Monday as talks to avert a potentially catastrophic strike by thousands of TV and movie writers remained unresolved just hours before a crunch deadline.
Major studios and networks including Disney and Netflix are locked in talks with the powerful Writers Guild of America (WGA), which has threatened to order a walkout just after midnight Tuesday unless a new deal is agreed.
If a strike takes place, late-night shows could immediately grind to a halt, and television series and movies scheduled for release later this year and beyond could face major delays.
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