Here's the official word from the Writers Guild as posted on the WGAW Web site:
The Writers Guild of America, West (WGAW) and the Writers Guild of America, East (WGAE) have issued the following statement regarding Contract 2007 negotiations:
“The Writers Guild has reached a binding independent agreement today with Worldwide Pants that will allow Late Show with David Letterman and The Late Late Show with Craig Ferguson to return to the air with their full writing staffs. This is a comprehensive agreement that addresses the issues important to writers, particularly New Media. Worldwide Pants has accepted the very same proposals that the Guild was prepared to present to the media conglomerates when they walked out of negotiations on December 7.
Today’s agreement dramatically illustrates that the Writers Guild wants to put people back to work, and that when a company comes to the table prepared to negotiate seriously a fair and reasonable deal can be reached quickly.
It’s time for NBC-Universal to step up to the plate and negotiate a company-wide deal that will put Jay Leno, who has supported our cause from the beginning, back on the air with his writers.”
For more on the deal, see Nikki Finke's Deadline Hollywood Daily.