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 '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.'
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