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SAG-AFTRA says that its tentative agreement with the studios is worth more than $1 billion over three years and added that it has “extraordinary scope” and “unprecedented provisions.”

It comes as the long walkout by the actors, which followed that of the writers, is finally over.

The union said that the full details of the agreement will not be provided until it is reviewed by the SAG-AFTRA National Board.

The AMPTP spoke out earlier today, calling the deal the “biggest contract-on-contract gains in the history of the union” and one that represents a “new paradigm.”

“We are thrilled and proud to tell you that today your TV/Theatrical Negotiating Committee voted unanimously to approve a tentative agreement with the AMPTP,” SAG-AFTRA said in a note to members. “As of 12:01am PT on Nov. 9, our strike is officially suspended and all picket locations are closed. We will be in touch in the coming days with information about celebration gatherings around the country.”

The union added: “In a contract valued at over one billion dollars, we have achieved a deal of extraordinary scope that includes ‘”‘above-pattern'”‘ minimum compensation increases, unprecedented provisions for consent and compensation that will protect members from the threat of AI, and for the first time establishes a streaming participation bonus. Our Pension & Health caps have been substantially raised, which will bring much needed value to our plans. In addition, the deal includes numerous improvements for multiple categories including outsize compensation increases for background performers, and critical contract provisions protecting diverse communities.”

SAG-AFTRA covers around 160,000 members from A-list stars to background extras and the union said that the new contract will enable all of its members to “build sustainable careers.”

It also thanked its “union siblings,” in particular highlighting the support from the WGA. It did not, however, namecheck the DGA, which settled on its own new deal much earlier than the other two unions and without a walkout.

“We stand together in solidarity and will be there for you when you need us,” the union’s statement concluded. “Thank you all for your dedication, your commitment and your solidarity throughout this strike. It is because of YOU that these improvements became possible.”