WGA, RKO reach interim agreement

LOS ANGELES, Jan. 25 (UPI) -- The striking Writers Guild of America said Friday it has reached an interim agreement with RKO Productions Inc., a subsidiary of RKO Pictures.

The company's production schedule, to be announced next week, includes several original screen projects, as well as the financing, production and distribution of a number of new versions of classic movies from RKO's 1,300-film library.

"The negotiation with the guild was smooth and business-like; they kept their agreement and we kept ours," RKO's CEO Ted Hartley said in a statement. "It all moved ahead at a steady pace and resulted in good feelings on both sides. This now releases the pent-up energies of the talented executives, producers, and writers at RKO. We all are eager to get back to creating great films and innovative programming today."

"RKO gave the world such classics as 'King Kong,' 'Citizen Kane' and 'It's a Wonderful Life.' Now it looks to the future, signing an interim agreement that recognizes fair and respectful compensation for writers on the Internet and in new media. We applaud their forward thinking," said Michael Winship, president of the WGA East, and Patric M. Verrone, president of the WGA West, in a joint statement.