Associated Press

LOS ANGELES - The Screen Actors Guild is asking for more time to study the final contract offer made by major Hollywood studios.

The Alliance of Motion Picture and Television Producers, which represents the studios, said both sides met Wednesday for four hours to discuss the offer. The meeting was held a day after the contract between SAG and the studios expired.

The guild asked for more time to examine the offer and said it would contact the studios Monday. No further meetings are scheduled.

The alliance said in a statement it is hopeful the guild will accept the final offer, which it said would add $250 million in compensation to actors over three years.

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Courtesy of MSNBC