Hollywood actors strike looms as union announces no deal was reached by deadline

Wedbush Securities Managing Director Michael Pachter says the strike could push back shows like ‘Stranger Things,’ but broadcast networks ‘have the biggest problem.

Actors and comedians Tina Fey, center, and Fred Armisen, right, join striking members of the Writers Guild of America on the picket line during a rally outside Silvercup Studios, Tuesday May 9, 2023, in New York.It previously authorized a strike by a nearly 98% margin. Members of the Writers Guild of America East hold signs as they walk in the picket-line outside of HBO and Amazon's offices on May 10, 2023 in New York City.

Matt Damon said Wednesday that everyone was hoping a strike could be averted, but said many actors need a fair contract to survive."We ought to protect the people who are kind of on the margins," Damon told The Associated Press. "And 26,000 bucks a year is what you have to make to get your health insurance. And there are a lot of people whose residual payments are what carry them across that threshold. And if those residual payments dry up, so does their health care.

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