The Alliance of Motion Picture & Television Producers and the American Federation of Television and Radio Artists said they reached a tentative three-year contract deal Wednesday. "It's a terrific deal. It's a victory for actors," said AFTRA president Roberta Reardon to AP.

The American Federation of Television and Radio Artists (AFTRA), which has negotiated jointly with the guild over the past 27 years, decided to break the alliance in late March and negotiate on its own the new contract. AFTRA shares more than half of its 70,000 members with SAG.

"With SAG's continued adherence to unreasonable demands in both new and traditional media, continuing negotiations at this time does not make sense," the producers said in a statement at the time.

The deal, which provides higher revenues for downloaded content and residual payments for ad-supported streams and clips, puts a great deal of pressure on SAG. The current contract of the SAG actors is set to expire on June 30, and AMPTP said they have "unreasonable demands" over fees from DVD sales and online content.

Last month, the Screen Actor Guild’s directors have rejected a petition signed by more than 1,500 actors, aiming to limit who can vote in future contract negotiations. The petitioners desire that only guild members who work at least one day a year to have the right to vote in contract talks.