Striking actors are reviewing Hollywood and TV studios’ ‘best and final offer’

(CNN) — A deal to resolve film and television actors’ 113-day strike could be imminent, as the union representing them said it is reviewing Hollywood and TV studios’ final offer.

The negotiating committee for the SAG-AFTRA union on Saturday said it received a “last, best and final offer” from the Alliance of Motion Picture and Television Producers, whose members include Disney, Netflix, NBCUniversal, and Warner Bros. Discovery. Warner Bros. Discovery in the parent company of CNN.

A source familiar with the matter told CNN that the heads of the major studios met virtually with the actors’ guild negotiating committee on Saturday to discuss the latest offer.

“We are reviewing it and considering our response within the context of the critical issues addressed in our proposals,” the union said in a statement.

It’s not clear that a deal will be reached. The union and studio executives have been meeting on and off for months with many promising developments and disappointing setbacks along the way.

SAG-AFTRA actors walked off the set on July 14, joining the striking writers in a historic double walkout against the studios — the first time the writers and actors had simultaneously been on strike in more than 60 years. Both the actors and writers fought for updated deals that better paid them for shows and movies on streaming services. They both demanded better benefits and wanted restrictions on the use of artificial intelligence, a technology that actors and writers alike believe poses an existential threat to their livelihoods.

Deal may not end the strike

Even if a deal is reached soon, it would not necessarily end the strike. The deal would still need to be ratified by members of the 160,000 union before it goes into effect, and many unions across multiple industries have been voting down contracts in recent months.

An online petition signed by more than 5,000 members recently urged the union to take a hard line in negotiations toward a final deal, saying they would not agree to a deal that did not meet the demands laid out at the start of the strike.

But some of Hollywood’s most famous stars have been eager to get back on set. George Clooney, Tyler Perry and other A-list actors offered to pay millions more in union dues to help end the strike, a source with knowledge of the proposal previously told CNN.

The SAG-AFTRA union’s demand for an 11% wage increase in the first year of the proposed contract term has been a major impediment to a resolution: The studios had agreed to a 5% pay raise. In recent days, the union suggested the studio and the negotiators were getting closer on some key issues but remained far apart on others.

Disney’s Bob Iger, Warner Bros. Discovery’s David Zaslav, Netflix’s Ted Sarandos, and NBC Universal’s Donna Langley have been directly involved in negotiations.