US TV studios cut development deals due to strike

[Omaha Steve]

http://www.reuters.com/article/bondsNews/idUSN1553542920080115

By Sue Zeidler

LOS ANGELES, Jan 15 (Reuters) - Television studios said on Tuesday they canceled dozens of program development and production deals with writers underscoring the extent to which the screenwriters strike is affecting the TV industry.

"The duration of the (Writers Guild) strike has significantly affected our ongoing business. Regretfully, due to these changed business circumstances, we've had to end some writer/producer deals," General Electric Co's (GE.N: Quote, Profile, Research) NBC Universal Media Studios said in a statement.

Such deals can involve one writer or a team of writers.

"Because of the adverse effects of the ongoing WGA strike on our business, we have been forced to terminate overall deals with a number of talented writers and producers," News Corp's (NWSa.N: Quote, Profile, Research) 20th Century Fox Television said.

Walt Disney Co's (DIS.N: Quote, Profile, Research) ABC Studios said it canceled about two dozen development deals.

Networks typically order the development of new comedies and dramas in January for the pilot season, which runs from January through April. Disruption of the pilot season could in turn play havoc with the $9 billion "upfront" market beginning in May when advertisers pay to book commercial time in advance of broadcasts.

FULL 2 page story at link.

[aquart]

1. Which should tell you how much money they think is at stake.

If they're willing to lose $9 billion. Lying, greedy scum.