The Alliance of Motion Picture and Television Producers said talks were suspended after the actor's union presented its most recent proposal.
Media stocks fell on Thursday after talks between the union representing film and television actors and the studios fell apart, signaling to Wall Street that there’s no end in sight for the Hollywood actors strike.
“After meaningful conversations, it is clear that the gap between AMPTP and SAG-AFTRA is too great, and conversations are no longer moving us in a productive direction,” AMPTP said in a statement. “They have done the same with A.I., claiming to protect performer consent, but continuing to demand ‘consent’ on the first day of employment for use of a performer’s digital replica for an entire cinematic universe ,” SAG-AFTRA continued.
After AMPTP reached a deal last month to end the writers strike, there was some hope on Wall Street that studios could reach a deal with SAG-AFTRA to end a monthslong stoppage on Hollywood sets. Shares of firms that generate significant profits producing films and TV shows were hardest hit on Thursday.
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