The New York Times Company and the Newspaper Guild of New York have reached a tentative deal for a newsroom contract, ending a prolonged dispute. Guild President Bill O'Meara sends along a statement:

The Guild and The Times have reached conceptual agreement on a new five-year contract. The tentative compromise reached late today with the aid of a mediator is subject to ratification by Guild members. At the request of Mediator Martin Scheinman, details will not be released until language is finalized. The Guild Negotiating Committee has voted to support the settlement, which preserves a Defined Benefit Pension, protects the jointly trusteed medical plan, and includes increases in compensation. We will provide more information in coming days, and a ratification meeting will be scheduled in the near future.

Earlier this month the Times Co. and the Guild agreed to bring their dispute to a mediator, Martin Scheinman.

After the mediation was announced, O'Meara told Poynter's Jeff Sonderman the Times and the Guild had agreed on the structure of an eventual deal but were far apart on money. “If we’re going to have a settlement, it is going to happen between now and probably early November,” O’Meara told Sonderman.

Times Co. Senior Vice President Robert Christie announced the breakthrough on Twitter: