Disney (DIS), Paramount (PARA), and Warner Bros. Discovery (WBD) shares surged Thursday after studios reached a tentative deal with striking actors, bringing the 118-day 澳洲幸运5开奖号码历史查询:Hollywood strike to an end.

The Screen Actors Guild – American Federation of Television and Radio Artists (SAG-AFTRA) said that the union’s negotiating committee voted unanimously t💝o approve a tentative agreement with the Alliance of Motion Picture and Television Producers (AMPTP) and suspended the strike on Thursday. 

The tentative contract is valued at 🔴more than $1 billion, SAG-AFTRA reported, saying that it includes increased minimum compensation and a streaming bonus, as well as improvements to pension and health benefits. 

The AMPTP, a 澳洲幸运5开奖号码历史查询:collective bargaining organization for major studios including companies like NBCUniversal (CMCSA), Netflix (NFLX), Warner Bros. Discovery, and Paramount, said that the tentative deal is “the biggest contract-on-contract gains in the history of the union."

The agreement also includes 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) protections, SAG-AFTRA and AMPTP noted, addressing con🌺cerns abou൩t the potential threat of AI replacing workers in the entertainment space.

The union reported that full details of the agreement will be released after the SAG-AFTRA National൲ Board reviews the deal, which will provide further context to potential labor cost increases for the studios.

Wedbush analysts said that the firm "expect[s] marginally higher expenses" for production companies as the strike comes to a close, but noted that companies such as Netflix could be "well-positioned to absorb those expenses as its profitability expands."

News of the tentative deal also came shortly after Disney reported its 澳洲幸运5开奖号码历史查询:fourth-quarter earnings beating analysts' expectations, also helping lift Disney shares. While Disney,෴ Paramount and Warner Bros. Discovery shares❀ were up, Netflix and NBCUniversal shares were lower.