AMPTP, DGA Reach Tentative Agreement on Terms of New Contract

January 16, 2008 -- JOINT STATEMENT:

The agreement between the Alliance of Motion Picture and Television Producers (AMPTP) and the Directors Guild of America (DGA) establishes an important precedent: Our industry's creative talent will now participate financially in every emerging area of new media. The agreement demonstrates beyond any doubt that our industry's producers are willing and able to work with the creators of entertainment content to establish fair and flexible rules for this fast-changing marketplace.

We hope that this agreement with DGA will signal the beginning of the end of this extremely difficult period for our industry. Today, we invite the Writers Guild of America to engage with us in a series of informal discussions similar to the productive process that led us to a deal with the DGA to determine whether there is a reasonable basis for returning to formal bargaining. We look forward to these discussions, and to the day when our entire industry gets back to work.

Peter Chernin, Chairman and CEO, the Fox Group
Brad Grey, Chairman & CEO, Paramount Pictures Corp.
Robert A. Iger, President & CEO, The Walt Disney Company
Michael Lynton, Chairman & CEO, Sony Pictures Entertainment
Barry M. Meyer, Chairman & CEO, Warner Bros.
Leslie Moonves, President & CEO, CBS Corp.
Harry Sloan, Chairman & CEO, MGM
Jeff Zucker, President & CEO, NBC Universal

Source: The Walt Disney Company