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

Media mogul Barry Diller urged all parties to reach a resolution by September 1 amid ongoing Hollywood strikes during a Sunday interview on'Face the Nation.' Paramount CEO Barry Diller delivered a grim prediction for Hollywood on Sunday, warning that the industry is facing an "absolute collapse" if the Writers' and Screen Actors Guild joint strike extends into the fall. "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. 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," Diller said on CBS' "Face the Nation" Sunday. "And at just the time, [the] strike is settled that you want to get back up, there won't be enough money."