In a nail-biting turn of events, the five-month-long SAG-AFTRA strike shows no sign of concluding as the actors guild carefully examines the extensive proposals presented by the AMPTP. The much-anticipated deal, which seemed within reach just 36 hours ago, has left industry executives perplexed and the town in a state of suspense.

Earlier this week, Warner Bros Discovery's CEO and the Disney CEO, along with other studio chiefs, had expressed optimism about an imminent resolution to the strike. The guild and the AMPTP had made progress in bridging the divide on the issue of AI protections, sparking a wave of hope throughout Hollywood. However, as negotiations continued, it became evident late last night that Tuesday would not bring the expected breakthrough.

With the strike now in its 118th day, Hollywood's production landscape remains barren. The negotiating committee of the actors guild is currently engaged in deliberations, intending to reach out to the AMPTP later today. However, there are no immediate plans for the CEO Gang of Four, consisting of Disney's Bob Iger, Warner Bros Discovery's David Zaslav, Netflix's Ted Sarandos, and NBCUniversal's Donna Langley, to directly participate in further talks.

A source within the guild asserted that they are thoroughly reviewing the studio's latest offer while keeping in mind the importance of a fair and worthwhile agreement. "We know people want to see a deal," the source stated, "but it has to be a deal that justifies the sacrifices made."

Meanwhile, an insider from within the industry highlighted the diligence and commitment of all parties involved in reaching a resolution. Referring to the studio's self-proclaimed "best, last, and final offer," which includes increased minimum rates, enhanced performance compensation bonuses, comprehensive AI protections, and more, the insider termed it a "groundbreaking deal."

However, the hurdles faced by executives like David Zaslav became apparent as Warner Bros Discovery's stock experienced a double-digit drop following Q3 earnings results that revealed sluggish ad revenues and financial setbacks due to both the resolved WGA strike and the ongoing SAG-AFTRA labor action. Additionally, Disney, which is grappling with its own set of challenges including the possibility of acquiring Comcast's remaining stake in Hulu for a whopping $9 billion and a lukewarm reception to its latest film release, The Marvels, would have welcomed the distraction of a strike resolution before releasing its Q3 results today.

As frustration mounts within the industry, a studio insider lamented the ongoing delay, suggesting that it is being used to make a point. Talent representatives also expressed their concerns, stating that the inability to generate income for the remainder of the year and the halt in global productions have had severe repercussions, making it nearly impossible to secure talent until 2024.

David Zaslav, in response to the situation, expressed his view on the proposed deal, emphasizing its alignment with the union's objectives and highlighting the highest wage increase in 40 years. He eagerly anticipates both sides returning to the business of storytelling and ensuring that creative partners feel valued and rewarded.

As SAG-AFTRA members picketed in Los Angeles and New York City, both the guild and the AMPTP remained tight-lipped on the current status of negotiations. Deadline's requests for comments went unanswered, leaving industry observers on tenterhooks. Further updates will be provided as soon as information becomes available.