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That’s right, you heard it here… Last. It is official, The Writers Guild of America announced late last week that its 12,000 members will go on strike Monday at 12:01am against the movie studios and television networks. The much talked about disagreement stems over a lack of compensation to writers for DVD and Internet media.

The members of the WGA have been told that all writing covered under WGA must cease, which as you can imagine covers absolutely everything in Hollywood. The first effects are expected to be felt this week with primetime television shows such as The Daily Show, Letterman, The Tonight Show and The Colbert Report.

What does this mean for the rest of us? The fans? Well, many television shows already have much of their writing finished in order to complete most of their seasons, but we should expect plenty of re-runs until the strike is resolved. The unfortunate part is that as of this weekend, there are no talks happening between the heads of the studios and representatives at the WGA. Although, a little birdy named Nikki Finke is reporting that a Federal Mediator has been called upon to bring both parties together Sunday at 10am to avoid the Monday strike.

We’ll keep you posted.