IATSE aims to conclude the AMPTP talks by June 27

IATSE hopes to complete negotiations on a new contract with the studios by June 27, after adding an additional week of talks to the schedule.

The union announced Monday that it will resume negotiations on both the Basic Agreement and the Area Standards Agreement on June 24, with four more days to conclude both deals.

“We look forward to concluding our negotiations with the AMPTP and reaching an agreement that our members will be proud to ratify,” Matt Loeb, its international president, said in a statement.

Negotiators reached agreement on several issues, including provisions on the use of artificial intelligence and subcontracting. But key “economic” issues remain to be resolved, including across-the-board wage increases and financing a $670 million hole in pension and health care plans.

The International Alliance of Theatrical Stage Employees contract expires July 31. The union has said it will not extend that deadline and hopes to have the contracts ratified by that date.

The union covers approximately 50,000 employees under the Basic Agreement, and another 20,000 under the Area Standards Agreement, which covers 23 local unions across the country.

Discussions on the Basic Agreement have already been extended once, with three additional days added to the program last week. Those talks continued well into the night last Wednesday, before negotiators decided to break off and return at a later date.

The Alliance of Motion Picture and Television Producers must now hold talks with IATSE as well as the Teamsters and other Basic Crafts unions, which began their talks Monday morning.

The Basic Crafts contract also expires on July 31.