Actor, writer strikes could lead to Hollywood's 'absolute collapse' if not resolved soon: Former Paramount CEO

Media mogul Barry Diller warned of 'devastating' ramifications if the parties don't reach a resolution by September 1 amid ongoing strikes against Hollywood by writers and actors.

Hollywood actors joined screenwriters in their months-long strike against studios, streaming services and production companies represented by the Alliance of Motion Picture and Television Producers (AMPTP) last week, marking the first time in over six decades that the two unions have been on strike at the same time. Yael Halon is a reporter for Fox News Digital. Story tips can be sent to yael.halon@fox.com. 

Since May, writers, represented by the Writers Guild of America (WGA) have been on strike, asking for a guaranteed number of writers per room, increased pay, and regulated use of artificial intelligence (AI) in the writing process. Actors, represented by Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) want increased minimum pay rates, increased streaming residuals and guarantees from studio and production companies about how, exactly, AI will be used. The strike has impacted the production of film and television series and is expected to cost the industry more than $3 billion in losses.