As Cannes Market Heats Up, Will Writers Strike Slow Down Deals?

variety.com:

writers strike — even if dealmaking can continue apace on the Croisette.   “Things are a little murkier than they were back in 2007,” one senior agent says of the current strike and its impact on the Cannes market.

The 12:01 a.m. deadline of May 2 “accelerated” the launch of numerous packages, but the reality of shooting and bonding projects that wrap after June 30 has pumped the breaks for some titles.  “It’s not just about the WGA, it’s also about our clients in the DGA and SAG, and the bond companies are being mindful of a tri-guild strike,” says the source. “What would we do if we’re in the middle of production and the AD department decides they aren’t coming on set tomorrow with the directors?”   As a result, the agent says some productions are “having to leapfrog the whole summer” and that “God willing, everyone’s happy with the results of the new agreements, and come fall, the bonds are coming back in place.”  Other projects that have already been “pre-baked” with producers, financiers and sales companies are safe to proceed — sort of.

Another agency boss says the “general rule” is that if a deal is done on a script that’s in place prior to the strike, they’re “good to go.” If rewrites are required, “then it’s a no.” The guidelines shift for international indie companies that aren’t “struck companies” or WGA signatories: in theory, it should be business as usual at these outfits, but some stakeholders or talent may not like the optics of serving as a workaround overseas during strike action.   “The overarching guideline is: if there’s a deal done, a purchase agreement or option purchase agreement, or even a shopping agreement that then has all the deal points in the ultimate purchase of the script done — meaning