(Entertainment Weekly) -- In yet another blow to the already ailing soap opera world, Eric Braeden, the venerable star of CBS' "The Young and the Restless," has exited the top-rated daytime drama after a nasty negotiation with Sony. Eric Braeden's last episode as Victor Newman will air on November 2. The production company wanted the popular actor to take a pay cut for playing mega mogul Victor Newman, but Braeden -- who's been on the soap since 1980 -- opted to leave instead. Barring any last-minute change, Braeden's final episode will air on November 2. Reps for Sony and CBS had no comment, though one insider indicated that no further talks are planned.
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Eric Braeden opted to leave the daytime soap instead of taking a pay cut
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The actor said he'd taken a pay cut two years ago when renewing his contract
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Braeden: "There's no appreciation that I've been an important part of the show"
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Braeden's last episode will air November 2
@placeholder talked with Braeden, 68, about Sony's decision to exercise a draconian clause in his contract (his deal that was set to expire in November 2010 can still be renegotiated every 26 weeks) and what it means to the future of daytime dramas.