Eric Braeden: Written Out of The Young and the Restless

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The economy continues to take its toll on the world of daytime drama.

The latest tragic example involves Eric Braeden, as TV Guide Canada reports his character of Victor Newman has been written out of The Young and the Restless. The actor has already taped his final scenes.

Soap Opera Stalwart

With budgets cuts affecting even the biggest names, Braeden had been locked in intense negotiations. He's signed through 2010, but that contract is apparently void now.

“Everyone knows they have to take a slash in pay,” an insider said. “That isn’t the issue — the issue is that their current contract isn’t being respected. Once you open up a contract during a cycle, the original contract is null and void and you must start over from scratch. Eric thinks he should be paid his current salary until next year."

We'll keep fans apprised of this situation as news develops.

Matt Richenthal is the Editor in Chief of TV Fanatic. Follow him on Twitter and on Google+.

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The Young and the Restless Quotes

How'd you ever turn out to be so cold with your father?

Victor

Amber Moore: Mm, black with sugar, just the way you like it.
Daniel Romalotti: Thanks... What?
Amber Moore: Nothing.
Daniel Romalotti: I mean, why are you looking at me?
Amber Moore: Oh, sorry. I'm just really happy to have you back.