Journalists from Nine Publishing have accepted a new pay deal that includes an 11.5% salary increase over three years, following a nationwide five-day strike.

The strike, which involved around 500 journalists from major publications like The Sydney Morning Herald and The Age, ended after staff reached an in-principle agreement over pay.

The improved offer, proposed by managing director Tory Maguire, includes annual increments of 4% in the first year, followed by 3.75% increases in the second and third years.

This new pay structure represents a 1% increase from the previously rejected offer of 10.5%, which did not keep pace with the inflation rate of 3.6% recorded in March.

While management did not guarantee fewer redundancies, they committed to forming a redundancy committee to ensure transparency in the process.

During the strike, concerns were raised about the potential for 70-90 redundancies as the company sought to save tens of millions.

The strike was supported by the Media, Entertainment & Arts Alliance (MEAA) and concluded at 11am on Wednesday.

MEAA director Michelle Rae emphasized that Nine management has agreed to ethical AI use and ongoing negotiations for freelancers.

The company expressed a commitment to good faith discussions to resolve ongoing issues and continue delivering quality journalism.

Nine Entertainment's CEO, Mike Sneesby, faced criticism for his actions during the Olympics, including job cuts and costly accommodations.

The company had also purchased exclusive broadcasting rights for the next five Olympic Games at a cost of $305 million.

The agreement was accepted by staff from Nine’s newsrooms in major cities, including Melbourne, Sydney, Canberra, Brisbane, and Perth, as well as employees covering the Olympics in Paris.