Gavin
February 3rd, 2008, 08:46 AM
A breakthrough has reportedly been reached during informal talks between striking Hollywood writers and production companies.
A deal would end the three-month writers' strike that has crippled the US entertainment industry.
The strike, which began nearly three months ago, has hit film and TV production across the US and caused the cancellation of last month's Golden Globes awards ceremony.
The Los Angeles Economic Development Corporation says the strike has cost the region's film and TV industry at least $650 million (£330 million) in lost wages, with the wider economy losing over $1 billion (£508 million).
A deal would end the three-month writers' strike that has crippled the US entertainment industry.
The strike, which began nearly three months ago, has hit film and TV production across the US and caused the cancellation of last month's Golden Globes awards ceremony.
The Los Angeles Economic Development Corporation says the strike has cost the region's film and TV industry at least $650 million (£330 million) in lost wages, with the wider economy losing over $1 billion (£508 million).