Hollywood on verge of deal to end strike - sources

LOS ANGELES, Feb 4 (Reuters) - Negotiators for Hollywood studios and striking writers have agreed to terms of a new contract that could be presented to union leaders in days and, if approved, end their three-month-old labor clash later this week, two sources told Reuters on Monday.

While the outlines of an accord were reached over the weekend, the two sides still need to hammer out contract language before the deal is submitted for approval to the governing boards the East and West Coast branches of the Writers Guild of America, they said.

Those sources, who were briefed on the status of talks but were not authorized to speak publicly about them under a media blackout, said negotiators hoped action by the WGA boards on a deal could come as early as Friday.

One source said the big breakthrough in the latest round of talks, which began Jan. 23, came on the key sticking point of how much writers should be paid for advertising-supported Internet "streaming" of television shows. (Reporting by Steve Gorman; Editing by Mary Milliken and Todd Eastham)