Shares of major media companies rose Wednesday morning after the Writers Guild of America (WGA) ended a five-month writers strike after finalizing a contract with studios.

Paramount (PARA) and Warner Bros. Discovery (WBD) shares each jumped more than 2%, while Netflix (NFLX) and Disney (DIS) shares ticked up 1% and 0.5%, respectively, before giving up those gainsಌ as of 11:30 ET.

Writers had been on strike since May over compensation, benefits, and the use of 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) in script writing, disrupting work at big studios such as Disney, Paramount, Netflix, Sony, and Warner Bros.

The contract is expected to last until 2026 and includes a 5% minimum pay increase once it's ratified, along with another 4% jump expected in May of next year, and a 3.5% bump in May 2025.

The Guild also negotiated AI restrictions, prohibiting the use of AI to write or rewrite literary material. Under the contract, AI-generated content cannot be considered source material.

The WGA has until October 9 to ⛄vote in favor of or against the contraᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚct.

The Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA), which went on strike in July, could continue to strike until reaching its own deal with studios.