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What does holding deal mean?

Looking for the meaning or definition of the word holding deal? Here's what it means.

Noun
  1. (entertainment industry) An agreement made between a studio or network (or other similar entity) and a person, such as an actor, producer or writer, to hold the person to be exclusive to that entity for an agreed upon period of time, usually one year or "season", for an agreed-upon amount of money.
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