U.S. advertisers, entertainment union agree on commercials contracts

A U.S. entertainment union said on Saturday that it has reached a tentative agreement on new television and radio commercials contracts with the U.S. advertising industry.

The contracts are about a new three-year package that covers TV and radio ads worth US$ 1 billion, said the union, known as the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA).

However, it did not release any details of the package, which is set to be submitted to the SAG-AFTRA national board for approval at its April 20-21 meeting, before being sent to all members for ratification.

"We've made essential gains for SAG-AFTRA members," said SAG-AFTRA National Co-President and Negotiating Committee National Chair Roberta Reardon. "These contracts provide our members with the solid foundation they need to sustain their careers and families."

The sit-down, held in New York under a media blackout, was launched on February 14 and concluded on Saturday, between 34-member SAG-AFTRA Negotiating Committee and the Joint Policy Committee representing the advertisers. SAG-AFTRA represents more than 165,000 actors, announcers, broadcast journalists, dancers, recording artists, singers and other entertainment and media professionals.