Modern Family Settles Salary Dispute

The cast of Modern Family has finally ended their family feud!

After weeks of salary disputes, cancelled table reads, and tense negotiations, the six adult stars of the Emmy winning TV show have agreed in principle to new contracts with producer 20th Century Fox television.

Previously raking in an estimated $65,000 per episode, Julie Bowen, Ty Burrell, Jesse Tyler Ferguson, Eric Stonestreet and Sofia Vergara will now make a reported $150,000 per episode. With bonuses and back-end profits, the actors' salary will jump to an estimated $350,000 per episode. Although Ed O'Neill used to be the highest paid actor on the show, salaries are now pretty much even between the entire cast.

In exchange for the substantial raise, the cast has agreed to tack on another year to their seven season contracts and drop the lawsuit that was filed to void their pre-existing contracts.

"It's no surprise, but I'm of course thrilled and I cannot wait to get on stage Monday morning and start making the show again. It'll feel great, I'm sure everybody is going to be very relieved and I hope that it's the beginning of a great season. I feel really good about it. I'm very happy for my friends on the cast for their success, I really am," show co-creator Steve Levitan told THR.

In 2011 alone, Modern Family generated $164 million in advertising revenue for ABC.

The show can't go on without its stars, so hefty salaries were a small price to pay for our favorite family making their return to TV!