AMPTP_LogoA negotiating unit for below-the-line crew members reached agreement with the AMPTP on a tentative new three-year deal covering film and television production in Los Angeles, it was announced today. Neither IATSE nor the studios are releasing terms of the new Hollywood Basic Agreement as of yet.

If approved by the union membership, the pact will go into effect August 1, 2015, just after the current agreement expires. Early resolution of contract talks can give local production a shot in the arm, as producers and financiers avoid the worry of any work stoppage in the near future.

“I am pleased we were able to reach an agreement that provides industry stability and meaningful terms and benefits to the membership,” said IATSE International President Matthew D. Loeb.

“The industry is pleased we have reached a new agreement with IATSE months before the contract expires,” stated AMPTP President Carol Lombardini. “With the tentative agreement in place, our member companies can immediately begin planning production for the future with certainty.”

The negotiated deal will next be sent to the IATSE national board for approval. If it passes there, the next step would be member ratification vote.