The actors union said on Wednesday that Hollywood players and the major film and television studios had tentatively reached an agreement to terminate the actors’ historic strike. The strike had forced a nearly four-month production halt throughout the sector and prompted existential concerns about the entertainment industry’s future.

The studios’ representative, the Alliance of Motion Picture and Television Producers, had been in and out of talks with the union all year long in an attempt to come to an agreement. The actors and the AMPTP both hailed the agreement. The studios stated that the pact “represents a new paradigm” for Hollywood, TV, and the performers, while Union President Fran Drescher referred to the agreement as “historic.”

We did it!!!! The Billion+ $ Deal! 3X the last contract! New ground was broke everywhere! Ty sag aftra members for hanging in and holding out for this historic deal!” Drescher posted on Instagram Wednesday.

The strike will officially end at midnight, the union said in a statement, concluding one of the longest and most disruptive strikes in Hollywood’s history that brought the industry to a standstill.

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The studios released a statement saying, “The AMPTP is pleased to have reached a tentative agreement and looks forward to the industry resuming the work of telling great stories.” In a statement, the White House praised the arrangement and said it demonstrated that “collective bargaining works.”