SAG /AFTRA have a deal

Hollywood can breathe a sigh of relief: There won’t be an actors strike. A new deal was reached at sunrise Tuesday. It’s valued at a record $256 million. The union’s 2014 deal was valued at $200 million.

SAG-AFTRA and the Alliance of Motion Picture and Television Producers have reached an agreement on successor contracts to the union’s TV/theatrical pacts, The Hollywood Reporter has learned, which had expired Friday but were extended.

The studios’ “last, best and final” offer came at around 4:30 a.m., and agreement was reached at about 5:45 a.m.

“The Alliance of Motion Picture and Television Producers and the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) have concluded negotiations and have reached a tentative agreement on terms for a new three-year collective bargaining agreement,” the AMPTP said in a statement.

THR has learned the following terms of the deal:

* Basic Wages. Annual increases of 2.5 percent, 3 percent and 3 percent. These are the same as the nominal increases achieved by the DGA and the WGA, although those unions had to agree to a variety of carve-outs that SAG-AFTRA apparently did not.

* Pension Plan. 0.5 percent wage diversion in the first year to help shore up the plan, with possible diversions in years two and three.

* Streaming Video Residuals. Essentially the same SVOD enhancements as the DGA and WGA. (Probably also true of ad-supported VOD as well.)

* Travel Fees. Improvements achieved.

* Holds and Exclusivity. Improvements achieved.

* Money Breaks. Increased the money breaks at which various contract provisions kick in.

* Stunt Coordinators. Raises achieved.

* Background Actors (Extras). Raises and overtime achieved.

* Rollbacks. No rollbacks.

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