Will Y&R's Eric Braeden Take a Pay Cut?

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Fancast's Sara Bibel is reporting  Sony Pictures Television president Steve Mosko hosted a "town hall meeting" with the cast, crew and production office staff on The Young and the Restless to discuss the particulars of Y&R's recent two-year contract renewal with CBS, including the much-talked about slashing of the soap's licensing fee. Series leading man Eric Braeden (Victor) was noticeably absent from the discussion, even though he was reportedly on set that day, according to Bibel's sources.

EricBraeden

Sources say he wanted to speak frankly with employees about the show’s recent two year renewal by CBS.  The new contract cuts the license fee, which means even more budget cuts.  Some production office staff and crew have already had their salaries slashed.  Mosko discussed the current state of the show and  praised the leadership of Maria and Billy Bell before opening up the floor to questions.   The meeting was described by an attendee as a pep talk to let the staff know that their hard work was appreciated.  Of course,  Mosko may hope that future contract negotiations will go more smoothly than Melody Thomas Scott’s now that the cast knows that the show has no money to spare.  CBS daytime president Barbara Bloom did not attend the meeting.  Nor did Eric Braeden, even though he was reportedly on set Friday.


So I guess the multi-million dollar question is, with Braeden's contract cycle up soon, will the actor take a pay cut to remain with the soap? We're hearing Braeden is already firmly stating he won't take a reduction in pay, meanwhile Auntie Ri Ri and Co. reportedly aren't backing down. I guess only time will tell who will cave first, if anyone...