The International Alliance of Theatrical Stage Employees, Moving Picture Technicians, Artists and Allied Crafts, and Alliance of Motion Picture and Television Producers released a statement Wednesday saying they have tentatively agreed to the terms of a three-year contract.

The terms apply to about 35,000 IATSE members represented by the West Coast studio Locals and New York-based Locals 52 and 161.

"This was a tough negotiation during tough economic times but both sides worked hard and negotiated reasonably to come to this agreement," IATSE International President Matthew D. Loeb said. "This new agreement both protects members and allows new media to evolve."

"AMPTP is pleased to announce its sixth major labor agreement of 2008, this time with IATSE," AMPTP added. "The IATSE-AMPTP agreement is consistent with the five other major agreements AMPTP has already negotiated this year, and it includes meaningful economic gains and groundbreaking new media rights.

"Taken together, these six new labor agreements will keep our industry at work, allow producers to experiment with new media, and give everyone in our industry a stake in the success of new and emerging markets."