WGA Strike Update: The Strike is OVER!!??

I know this is something that has been reported several times over the last week, but this time it is according to Michael Eisner who is the former CEO of Disney. I have yet to see an official release, but according to Eisner it is a done deal...!!

The writer's strike is OVER!

Thanks to Jennifer@LF for the heads up.

A deal has been struck between the major media companies and the Writers Guild of America to end the writers' strike, former Walt Disney chief executive Michael Eisner revealed on CNBC.

"It's over," Eisner said. "They made the deal, they shook hands on the deal. It's going on Saturday to the writers in general."

Eisner, speaking live on CNBC's "Fast Money," seemed to hesitate initially about whether it was possible that the writers could still reject the agreement, but finally suggested the deal's acceptance was inevitable.

"A deal has been made, and they'll be back to work very soon," Eisner said, adding, "I know a deal's been made. I know it's over."

Eisner did not elaborate on terms of the agreement. He said he expects most of the media companies affected by the strike to have "small" write-downs as a result of the deal. Eisner said the deal was struck last Friday.

As a result of studio cutbacks, however, many of the writers who went on strike are unlikely to return to the same big-money contracts they'd had as individuals with the studios, Eisner said.

Shares of Walt Disney and CBS were both up in extended electronic trading Thursday.

Source: CNBC

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WGA Strike Update: The Strike is OVER!!??