Ah, the writer's strike is coming to an end, as Douglas McIntyre discussed over the weekend. Media companies like Viacom (NYSE: VIA), CBS (NYSE: CBS) and News Corp. (NYSE: NWS) are probably happy to put this work stoppage behind them. And as a shareholder of Disney (NYSE: DIS) and the conglomerate behind NBC Universal, General Electric (NYSE: GE), I should be pleased.

Yeah, I suppose I am, for the most part, but there's a side to me that was really ticked off during this whole affair. To be completely blunt, I'm not sure that screenwriters have such a unique talent, and I'm not sure that they deserve residuals at all. Let's be honest -- when a studio puts up capital to generate a filmed entertainment product, the only entity taking on risk is the studio, plus any partner(s) that the studio has lined up to further distribute the risk. Writers aren't taking on any risk -- they're simply getting paid to do a job that a lot of people can do. You, sir or madam, reading this post, probably have the ability to write a script. I just don't buy the notion that studios have to shell out residual payments, above and beyond a flat fee, to screenwriters for their work. The Hollywood movie industry is risky enough as it is -- there's really no way that anyone from Michael Eisner to Bob Iger to Peter Guber to Harvey Weinstein, can predict what will be a hit and what won't. It just can't be done. Millions can be spent on the development of a script, only to see such a sum wasted when it doesn't translate to the big or small screen.

The Allen & Co. conference – which is this week – is the venue for media moguls to talk and possibly strike deals. Well, there is already a deal.

Actually, it's a new company. And, the initial principles include some heavy hitters: Robert Johnson, who is the founder of BET television, and Bob and Harvey Weinstein, who co-founded Miramax Films.

The name of the new company is Our Story Films. And it is targeted at African-American audiences.

It's a good idea. After all, BET television is a mega success. In fact, it is now owned by media giant Viacom.

There are also a variety of money-making movies focused on the African-American community, such as "Barbershop" and "Diary of a Mad Black Woman."

No doubt, the Rolodexes of Johnson and the Weinsteins is absolutely stellar. This is critical – because, of course, movies cost a fortune and require complex alliances and partnerships, as well as access to creative talent.

So far, Our Story Films has the backing of $175 million from JP Morgan Chase.

Not too shabby for a newly minted startup.