IATSE, AMPTP Reach Tentative Agreement on New Contract

variety.com:

Carolyn Giardina The International Alliance of Theatrical Stage Employees (IATSE) and Alliance of Motion Picture and Television Producers (AMPTP) have reached a tentative agreement on issues for the Hollywood Basic Agreement and Videotape Agreement.

The tentative three-year agreement is now pending ratification by the unions’ membership. Members and signatories will have access to a summary of the agreement in the coming days and Memorandum of Agreement is expected in roughly two weeks.

A memo distributed to IATSE members Tuesday night includes some key aspects of the tentative deal, including an update on the Motion Picture Industry Pension and Health Plans, which are largely funded by hourly contributions that were negatively impacted by last year’s work stoppage.

The memo reads: “The tentative agreement includes additional payments from employers that would address the $670M funding gap, including new streaming residuals.