It was announced late last night that the WGA will indeed strike and the announcement will come sometime today. I have a friend that's a WGA member and he says the strike could start as early as Monday with the hopes that negotiations might happen this weekend at the 11th hour. This strike is mostly a result of bad or old agreements as it relates to fees associated with the internet and DVD sales.
There's a lot of greed going round in Hollywood, but I think that this money is deserved to the writers. There would be nothing to shoot without them and they often get overlooked in the mix. The most immediate effect will be on TV. Get ready for lots of reruns and good Lord I hope this doesn't mean the resurgence of more reality TV. I honestly don't think it will go on that long but it will be interesting to see if anything happens this weekend.
Thanks to Jim at Moviezzz for the heads up on this and you can find up to date information at Deadline Hollywood Daily.