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Showdown in Genoa City Rocks Soap World
Things are getting ugly in Genoa City.
The soap opera world is still reeling from the news that Eric Braeden, the longtime star of CBS's No. 1-rated "The Young and the Restless," has chosen to leave the series rather than accept a reduction in his estimated salary of $1.5 million per year.
Now there's word that some well-known actors could end up being cast on the show in order to fill the gap left by Braeden's scheduled November exit.
First, however, some background.
"Y&R" producer Sony Pictures Television has been doing all it can to make sure the series (along with Sony-distributed "Days of Our Lives") survives in a world increasingly hostile to daytime dramas. Just last month, CBS pulled the plug on the iconic "Guiding Light," proving that no soap is safe.
Earlier this year, Sony brass held a town meeting with the "Y&R" cast and crew in order to outline the studio's plan to keep the series financially viable in the wake of CBS cutting its license fee for the show. Sony chief Steve Mosko personally detailed the challenges facing the show and the studio's commitment to keep it healthy for years to come.
Across-the-board pay cuts were announced, part of a plan to spread the pain as fairly as possible.
Interestingly, Braeden didn't attend the meeting, a person familiar with the session told TheWrap. What's more, he didn't accept the idea of a major pay cut.
Under his existing deal, Braeden pulls down roughly $1.5 million per year, according to two people with an understanding of his deal. Sony said it needed to reduce that figure to just over $1 million. (A standard clause in soap deals allows terms to be renegotiated every quarter.)
Even at the reduced level, Braeden would remain the highest-paid actor on the series, as well as one of the top-paid soap stars, period. The reduction was in line with pay cuts other top stars had taken.
Braeden, however, doesn't think he should take such a big cut. And, according to insiders, he doesn't think Sony paid him enough respect in approaching him about the decision.
"My God, after 30 years. the perfunctory manner with which one is dealt with!" Braeden told reporter Michael Logan in a TV Guide Magazine story posted earlier this month.
Sony and the show's producers have already cast William Russ ("Boy Meets World") to play a tycoon role not unlike the one played by Braeden. But now there's talk the show could yet add a well-known actor to fill the void left by Braeden's exit.
A source close to the show confirms that the names of Paul Michael Glaser ("Starsky & Hutch") , William Devane ("Knot's Landing") and Peter Strauss ("Rich Man, Poor Man") have all come up in conversations about the future of "Y&R." While no formal negotiations have taken place, the reps for those three actors have expressed at least preliminary interest in the idea of moving to Genoa City.
And why not? A part on the show would offer steady work, decent hours and a seven-figure salary.
"There are a dozen actors who would jump at this chance," one person close to the show said. "It's a great job that pays well."
Will Braeden change his mind and agree to a pay cut? Will the show's producers find a way to fill the hole left by his exit? Can the soap opera business survive?
Tune in tomorrow.
Comments
chuck Says
Eric Braeden is the only one that can play Victor Newman, he has done that role for so many years The Young & The Restless would not be the same without him. I really hope that Eric will work out these money problems because i don't think i will watch the show anymore if he doesn't return. A note for Eric Braeden-- work it out and please come back, we miss you already and you haven't left yet. Thanks Chuck Thompson
phyllis ralston Says
I agree with out Eric there Is no Young and Restless!! Do not take him out. He is the lead for God's sake!!!
Michelle967 Says
I have been a fan of Y&R since 1985. The character of Victor has never been one of my favorites; however, one cannot deny the importance of this character to the Y&R storyline. For EB to exit the show because he did not want to take a pay cut from $1.5 million to $1 million shows greed. He may publicly denounce Sony for their lack of negotiation "sensitivity" towards a "30 year veteran" who participated in the show's high ratings, but come on. In this day of economic downfall who in their right mind would turn down a job that paid $1 million dollars. I have been out of a job, due to the economic downsizing, since May 2009, and am barely getting by on unemployment while I am trying to find a job. I wish someone would offer me a $500,000 dollar pay cut and lower my annual income to $1 million. Let's stop crying "foul" for a fictitious character who cannot accept $1 million a year for a "real-life" paying job and lets cry for the "real Americans" who are suffering without a job due to no fault of their own, or a family that is pulling in less than $25-30,000 a year trying to support a family, mortgage and buy groceries. Now there is something to really complain about. Grow up Eric. People live on far less than $1 million a year and have to put up with their "bosses" treating them like crap everyday because they have a family to support.
Shauna Montgomery Says
Victor IS The Young and the Restless!! DO NOT let him go!! I have been watching this show for over 20 yrs PLEASE dont take it away! It is a part of my life!!!!
Nikki Says
With no Victor, there IS no Y&R, period.
Jess Says
The contracts that the actors signed give the studio an out at the end of 13 or 26 weeks, and this has been standard for *years*. This is standard for primetime deals, too (the studio has an out at the end of the season in multi-season contracts). It has also been standard for years for actors, in multi-year deals, to renegotiate when the ratings went up (see the cast of "West Wing", Jane Kaczmarek on "Malcolm in the Middle", etc.). Ratings for Y&R are *down*, and therefore the salaries need to come *down* as well.
If Eric Braeden didn't want the studio to be able to renegotiate at the 13 or 26 week mark, then he shouldn't have signed that contract. What the studio is doing is within the boundaries of the contract.
And the comment about Sony wanting to end Y&R all along is just moronic (online soap fans tend towards hysterics). If they wanted to do that, then they could just end it immediately. The show is profitable, and they are taking actions to keep it profitable.
Trapper Says
So, I guess in your opinion, that it's perfectly acceptable to make an actor sign a contract and then renegotiate wages when there's still a year to go on said contract? Mr. Braeden stated that he made a counteroffer that wasn't even acknowledged. I don't think this is any way to treat a 30 year veteran of the show, one who's responsible in a major way for the show's number one status for several years. And now, Melody Thomas Scott, who just finished contract negotiations, has been let go because she doesn't want to go to recurring status, according to insiders. What good is a contract when the only people that have to honour it are the actors, and the company can renegotiate every 13 and 26 weeks. This is the end of Y&R, which is what Sony has wanted all along. If you look at other shows they've owned, this is their classic way of killing shows.
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