"The AMPTP has been negotiating with SAG now for 13 days. Last week, we asked AFTRA to delay the start of its negotiations until May 5th so that we could give the SAG talks every opportunity to produce an agreement. Since the SAG negotiations are due to wrap up on Friday, May 2nd, today is a good time to let you know where things stand.
When we requested an extra week for the SAG negotiations, we told you that there were "significant gaps" between the parties. Candidly, we must offer the same assessment of the negotiations today, with just over two days to go. Although both parties have spent considerable time in the negotiating room, we are not yet close to an agreement. This is the case for two fundamental reasons:
SAG contracts are up with the AMPTP (studios/producers/media companies). AMPTP wants them to use the same formula as the deal they made with the Writers. SAG eventually agreed, but want to make over 70 changes (including wage hikes up to 200%). This would lead to enormous cost increases. Studio's will likely not green-light any new projects because of fear of the strike, which could last to mid-July.
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