The major film and television studios on Saturday evening delivered their “best and final” offer to the striking writers, a person close to the situation told, adding to significant hope that the negotiations to end the months-long strike will conclude with an agreement this weekend.

A response was expected from the Writers Guild of America after reviewing the offer.

A fourth consecutive day of negotiations was held on Saturday between the Writers Guild of America and the Alliance of Motion Picture and Television Producers. The tentative agreement still needs to be ratified by rank-and-file members before it can take effect.

“The WGA and AMPTP held a bargaining meeting on Saturday and will meet again on Sunday,” the two groups announced.

Warner Bros., Sony, and Universal are the four main studio bosses. One person said Discovery chief David Zaslav, Disney chief Bob Iger, Netflix co-chief Ted Sarandos, and NBCUniversal studio chairman Donna Langley were not in the Sherman Oaks room by Saturday afternoon, indicating most major issues had been resolved. Even though the studio chiefs were not directly present, they were fully engaged in the process.

Over 11,000 members of the WGA have been on strike since May 2, and the work stoppage reached its 145th day on Saturday. In 1988, the union’s longest strike lasted 154 days. This strike takes place just two weeks after that longest strike. In the weeks leading up to SAG-AFTRA joining the WGA on July 14, many productions had already halted.

Wages, worker protections, and artificial intelligence have been the subject of negotiations between the WGA and AMPTP.