November 07, 2010 at 03:32 PM EST

That’s a lot of acronyms in one headline, but what it means is that we won’t be seeing an actors’ strike. The Screen Actors Guild and The American Federation of Television and Radio Artists have reached a tentative agreement with the Alliance of Motion Picture and Television Producers for a new three-year deal that, among other things, strengthens the SAG and AFTRA retirement and pension plans. Details will be submitted for approval to the Joint National Board of AFTRA and Screen Actors Guild, then sent to the unions’ members for ratification. “We are pleased to have successfully reached a tentative agreement on a new TV/Theatrical contract with the Screen Actors Guild and a new prime time television contract with the American Federation of Television and Radio Artists,” the AMPTP says in a statement. “The deals offer increases in benefit contributions, wages and other areas critical to working performers while being responsive to the current challenges facing feature film and television producers. The early agreements also ensure that production can continue without disruption for everyone who depends on this industry.”

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