The three-year labor agreement with the Alliance of Motion Picture and Television Producers, which represents major studios like Netflix and Walt Disney Co include gains in wages, streaming residuals,

Hollywood's major studios reached a tentative labor agreement with the union representing film and television directors, likely averting a work stoppage that would have piled pressure on media companies to settle with striking writers.

As the Directors Guild of America announces a tentative deal with producers, the Writers Guild of America remains on strike after its own contract negotiations broke down.

The pact, which requires approval by the board of the Directors Guild of America, comes in the second month of the writers’ strike.