Striking Hollywood writers presented a new contract proposal at talks yesterday that would cost studios some $150 million over three years, Bloomberg reports. If accepted, the deal would give writers a percentage share of revenue from internet and digital media. It's a potential starting point for fresh negotiations to seek an end to the month-long strike that has hurt network and movie productions.
Securing a percentage is important because the Writers Guild of America believes members never earned their fair share of income from home video, now worth $17.6 billion in annual revenue. "The guild is desperately trying to get that kind of equation because they don't want to get screwed again,'' said one analyst. Studio representatives said they were studying the proposal for discussion today. (Read more Writers Guild of America stories.)