Hollywood's striking writers and major studios have moved forward towards an agreement that could end the devastating three-month-old writers' strike, the Los Angeles Times reported.

The newspaper, quoting unnamed sources familiar with the negotiations, Saturday said a new contract could be presented as soon as Friday to the striking Writers Guild of America.

The writers are insisting on more payment to cover their work released on the Internet and other new media.

Reports said attorneys from the studios and the guild were meeting this weekend to work out language for the proposed agreement, which first go to the board and then for ratification by the union's 10,500 members.

The strike has halted film production for cinema and television, and pulled the glamour rug out under Hollywood's hot awards season, turning the usually gala Golden Globes awards last month into a mere press conference and raising questions about the fate of the Academy Awards ceremony February 24.

Not only are there no writers to create clever wording for presentations, but also the actors and actresses have been refusing to cross the strike line.

On January 18, Hollywood directors reached a new three-year pay deal with the main producer's organisation to cover new media production. The directors were not on strike but the agreement was seen as a possible template for an agreement with the writers.

yahoooooooo !!!!! finally !!!

the strike will most likely be over soon but this makes no odds for heroes fans as the chances of NBC resuming production on season 2 is extremely unlikely and production will start on season 3 in the summer and will be on our tellys (or my comp lol) about fall time.

expect the best from volume three

Well as of early this morning the Writers decided to vote on ending the strike. The voting will be over the next 48 hours.

i think i read somewere that it is over i may need to check that tho