Writers met Saturday in New York City and Los Angeles to hear the proposal. The New York City membership (WGAE) generally was for lifting the strike. I don't have word yet on Los Angeles (WGAw.)
The Board can a) lift the strike on its own, b) schedule a 48 hour vote, or c) schedule a 10 day vote. I think option b, a 48 hour vote is most politically likely. That puts everyone back to work Wednesday, yet lets everyone be clear it is their choice to take this contract. Which in my view is as it should be, after this much sacrifice and work.
If the writers don't take the deal, most of it will be withdrawn. They will lose all their leverage -- the Academy Awards, Upfronts (selling the fall season), pilot season, hiring for the fall shows -- till June when SAG joins them on the picket lines. That's three more months of walking in circles for nothing, as there is no guarantee they'll get any better deal then.
The writers will take the deal (I say confidently.) Not perfect, but no negotiation is.
MissLaura at DailyKos has compiled some FAQs about the WGA deal. More available at United Hollywood.