Employees of Swarnavahini returned to work a short while ago, ending their trade union action.
The workers told media that the management of the company has agreed to remove Chief Executive Officer Mahen Perera from his post.
They also added that the 15 employees whose services have been termination will be reinstated.
The management previously terminated their service for forming a trade union within the company.
It was the first trade union within a private TV station in Sri Lanka.