NEW YORK (AP) -- Musicians and theater producers have reached a tentative agreement to end a strike that shut down almost all of Broadway's musical stages since Friday, a source close to the negotiations said Tuesday.
Negotiators had no immediate comment on terms of the deal.
The two sides, which bargained for nearly 12 hours through the night at the mayoral mansion, were to make a joint announcement Tuesday morning with Mayor Michael Bloomberg.
Bloomberg had invited representatives to the mansion Monday night for around-the-clock talks following a weekend of silence at the negotiating table.
The strike began after talks between the League of American Theatres and Producers and Local 802 of the American Federation of Musicians broke down. When actors and stagehands refused to cross the picket lines, all but one of Broadway's 19 musicals were shuttered.
The impasse has cost city businesses more than $7 million, with weekend box office losses estimated at another $4.8 million. The losses come at a particularly bad time for a city struggling with high unemployment and massive deficits.
The dispute was over minimums, how many musicians are required for a Broadway orchestra. That figure is set by the size of the theater, with the largest houses currently requiring 24 to 26 musicians.
The producers initially demanded no minimums, then offered seven. They raised that on Friday to 15 for the biggest theaters, but the musicians' union refused the proposal.
The union fears the loss of minimums, saying that producers are really seeking to slash the number of musicians for economic reasons. Musicians say they need staff minimums to help protect artistic freedom.
The battle was being waged on already shaky economic ground, said Jonathan Tisch, chairman of the city's agency for tourism. He warned of "significant job losses" if the strike is not resolved.
Broadway's total economic contribution to the city is estimated at more than $4 billion yearly, tourism and theater officials say.
If there was a bright spot to the strike, it was that tourists and New Yorkers determined to go to the theater turned to off-Broadway shows and non-musical plays not affected by the strike.
The negotiations were mediated by Frank Macchiarola, president of St. Francis College and a former city schools chancellor, and held at Gracie Mansion, mostly used ceremonially, since Bloomberg does not live there.
