The American Writer's Guild is poised to strike, sending a massive ripple effect throughout the entertainment industry. The strike could stall television shows and movies in production as well as create large losses for studios. At the center of contract negotiations is the royalties writers receive from their work, a compensation structure that hasn't changed since the 80s.
Most writer's are looking to increase their paltry .03% royalty into the 1-2% range. If the contract isn't hammered out with the studios, the strike could happen by year's end.
An interesting fact is that many of the top 10 shows on television are "reality" shows that aren't scripted. So the studios may not be as bad off as thought, but Grey's Anatomy fans may be a bit nervous. If the strike means being forced into watching Kimora Lee Simmons: Life in the Fab Lane, or Keeping up with the Kardashians, then we might have to take up boardgames or something...