After nearly two years of negotiations and the looming threat of a strike, educators at the eminent comedy hub Second City have finally spotlighted a glimmer of hope. They've reached a tentative contract agreement that has put a pin in the strike planned for next Tuesday. The eleventh-hour negotiations that took place on Friday have been fruitful, as indicated by the Association of International Comedy Educators (AICE), affiliated with the Illinois Federation of Teachers.

A statement posted in the Chicago Tribune by AICE lauded the return of Second City leaders to the bargaining table and stressed that the accomplishment "would not have happened without the support of our allies!" Meanwhile, details of the tentative deal were kept under wraps, with the contract still in need of a green light from the union members.

This agreement diffuses the tension that could have brought the curtain down on the legendary comedy institution's operations. A last-minute offer in December deemed the 'best and final,' was handed a thumbs down by an 85% majority of AICE members right before the holiday celebrations, according to the details shared by the Chicago Sun-Times. The buzz of a potential strike had even started to entice the participation of actors and stage managers, who share union allegiance, threatening a complete blackout of laughter at 230 W. North Ave.

The Second City has been under the banner of ZMC, a New York City-based private equity firm, which is attributed to the complexity of negotiations. A ZMC spokesperson roped in for a comment, didn't dish out any immediate reaction.