03/28/2008 02:45 am ET | Updated May 25, 2011

Studios Facing $3 Billion Tab For New Union Deal

Hollywood's writers and producers return this week for a three-day negotiating session. Who's got the upper hand? Depends on who's handicapping the fight: Clever videos have helped the writers gin up popular support, but the late night hosts--Jay Leno, David Letterman and Conan O'Brien--are expected to return en masse next week, which will undercut the scribes significantly.

If this next round fails, many predict the writers to be out for a long time. As former Warner Bros. chief Bob Daly told the WSJ, "If they don't make it now, I say, 'Happy New Year,' see you next year."

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