Media Mogul Barry Diller Suggested That Hollywood s Top-earning Actors And Executives Take A 25 Percent Pay Cut As He Warns Of A Devastating Collapse For The Industry If The

Media mogul Barry Diller suggested that Hollywood's top-earning actors and executives take a 25 percent pay cut as he warns of a devastating collapse for the industry if the  are not settled soon.
The former Paramount and 20th Century Fox CEO, who is now the head of the media conglomerate IAC, appeared on , where he weighed in on the issues that he called a 'perfect storm.'
'Everybody's probably overpaid at the top end,' Diller said.

'The one idea I had is to say, as a good faith measure, both the executives and the most-paid actors should take a 25 percent pay cut to try and narrow the difference between those who get highly paid and those that don't.' 
Among the , whose latest Mission Impossible film came to a halt due to the strike.

Cruise has earned over $1 billion in his career and an estimated net worth of $600 million as of 2023, according to Forbes. 
But it's not just the on-screen talent. executives in 2021, up a startling 50 percent from 2018.

Topping that list is Warner Bros Discovery chief David Zaslav, who made over $498 million from 2018 to 2022. 
The strike is the first time film and television actors have taken industrial action since 1980, and the first time two major Hollywood unions have been on strike at the same time since 1960. 
Media mogul Barry Diller suggested that Hollywood's top-earning actors and executives take a 25 percent pay cut as he warns of a devastating collapse for the industry if the SAG-AFTRA and Writers Guild of America strikes are not settled soon 
Filming on Tom Cruise's latest Mission Impossible film in the UK has been halted amid a transatlantic strike by Hollywood actors.

Pictured: Tom Cruise at a surprise theatre appearance on July 11 to celebrate Mission Impossible: Dead Reckoning Part One. 
Warner Bros.

Discovery chief David Zaslav topped the list of the highest paid Hollywood executives over the last five years at almost $500 million 
The last time actors and writers joined forces against Hollywood's executives was in 1960, when Marilyn Monroe was at the peak of her powers and Ronald Reagan was the head of the actor's union.
Under the rules of a strike, SAG-AFTRA members would not be able to film any movie or TV series, take part in any press or film premieres or promote anything at this month's San Diego Comic-Con.
On Sunday, Diller told host Margaret Brennan that the entertainment industry faces an 'absolute collapse' if the strike doesn't resolved soon and that people will start pulling their streaming subscriptions because 'there will be nothing to watch.'
'What will happen is, if in fact, it doesn't get settled until Christmas or so, then next year, there's not going to be many programs for anybody to watch,' he said, adding that there should be a settlement deadline of September 1. 
'So, you're gonna see subscriptions get pulled, which is going to reduce the revenue of all these movie companies, television companies, the result of which is that there will be no programs.

And at just the time, strike is settled that you want to get back up, there won't be enough money.'
Diller also called the current challenges a 'perfect storm.' 
'You had Covid, which sent people home to watch streaming television and killed theaters,' Diller said.
'You've had the results of huge investments in streaming which have produced all these losses for all these companies that are now kind of retrenching. So at this moment, it's kind of a perfect storm.' 
An image Types of Videographers a picket line from the last time Hollywood writers went on strike in 2007
Cruise's latest Mission Impossible film in the UK has been halted amid a transatlantic strike by Hollywood actors.

Pictured: Music Video Videographer Tom Cruise and film director Christopher McQuarrie
Embattled Disney CEO Bob Iger was one of just a few top-earning executives to make more in 2018 than he did in 2021

, Disney has held a premiere on Saturday for the upcoming live-action movie 'Haunted Mansion' without stars Tiffany Haddish and .
Hollywood wason Thursday as SAG-AFTRA members walked out - and as a result, the red carpet held in front of the theme park's Haunted Mansion ride was notably bereft of celebrities. 
In lieu of actors like Danny DeVito, LaKeith Stanfield, and Rosario Dawson being on the red carpet, Disney brought on their theme park characters to do the rounds instead. , Hasan Minhaj, Marilu Henner, and Lindsay Lamb were also meant to be at the event in Anaheim, California -
Their picketing has shut down production across the entertainment industry, plunging it into chaos. 
The event comes three days after Bob Iger slammed actors for 'not being realistic' and  'disruptive' to the industry. 
Director Types of Videographers Photography Jac Cheairs and his son, actor Wyatt Cheairs, 11, take part in a rally by striking writers and actors outside Netflix studio in Los Angeles on Friday, July 14
Park guests stand outside the world premiere Types of Videographers Disney's 'Haunted Mansion' on Saturday
People dressed as Maleficent, Micky and Minnie Mouse, and evil Queen Grimhilde from Snow White posed and walked along the carpet instead - while the cast members stayed at home in solidarity with the strikes
An empty red carpet is seen at the world premiere of Disney's 'Haunted Mansion' on Saturday.

Actors and screenwriters did not walk the red carpet due to picketing that has shut down production across the entertainment industry
<div class="art-ins mol-factbox floatRHS news" data-version="2" id="mol-66ad7590-240e-11ee-8c8c-11ebf744867d" website Diller says Hollywood actors AND execs should take pay cut