Negotiations between Hollywood actors and major studios have hit a dead end, dealing a significant setback to the prospects of a speedy resolution for the crisis that has left the entertainment industry reeling. High-ranking executives from renowned studios like Disney and Netflix had been engaging in regular meetings with representatives from the Screen Actors Guild (SAG-AFTRA) since last week. SAG-AFTRA, whose members staged a walkout from film and TV sets back in July, was a key player in these discussions.

However, in a statement released late on Wednesday, the studios announced the suspension of talks. They cited an insurmountable gap between the positions of both sides, asserting that the negotiations were no longer conducive to achieving productive outcomes.