Last week we got our first look at James Franco on the set of the daytime drama series General Hospital and today we not only get to see a few more promo pics but we get to hear from the man himself about his upcoming stint on the daytime soap:

On Friday night, James Franco traveled even farther north than Columbia’s campus for Dia’s Fall Gala at the Hispanic Society on 155th Street. He showed up halfway through cocktail hour with his grandmother. He yawned a lot. Vulture managed to get a few minutes with him, during which he told us a little about his upcoming guest roles on 30 Rock and General Hospital.

Where are you coming from?
I was filming 30 Rock today. It was very fun. I worked with Tina Fey a little bit over the summer on the movie Date Night and I’m assuming she liked the experience and that was why I was asked to do 30 Rock. I play myself but a very strange version. I don’t think it has anything to do with who I actually am.

And you’re also doing General Hospital. Why?
I really don’t know the difference between [soap operas]. The one difference is that General Hospital has developed this whole organized-crime thread.

But why a soap opera at all?
Well … I’ve got other ideas for my participation in this soap opera beyond just being in this soap opera. But it’s been a blast so far. It was kind of mind-blowing. I’ve worked one day on it. It’s one day of a few. But I think we packed seven episodes of my material in. They gave me a script for the day that was as thick as a film script and that’s what we planned to shoot in a single day. No ad-libbing. If I needed it, they said they had a TelePrompTer, but the regulars didn’t use it so I didn’t want to use it, either. Anyway, I’m pretty good at remembering lines.

Is it different acting for film than it is for a daytime soap?
One big difference is that you do one take. They’re going for one take because they have about four cameras for each setup. It’s one take: You do the whole scene and then you’re on to the next. That’s three or four pages in a moment.

What’s your character like? It’s not another James Franco, is it?
I don’t know how much they want you to reveal.

Do you wear an eye patch?
I haven’t worn one yet.

Do you die?
I haven’t died yet. But they only gave me the pages for the day that we shot. I don’t know what’s going to happen. It’s all open.

As I mentioned before, I don’t watch General Hospital but I’m so curious to see Franco on GH … especially after seeing these promo pics and the newly released promo VIDEO of his appearance on the show. After the jump, check out the General Hospital promo video announcing James Franco‘s debut on the show …

In early October we learned the somewhat surprising news that James Franco would be joining the cast of General Hospital and today we get our first look at the actor in his new role as soap star. ABC released a promo pic of Franco on GH … and here it is:

You guys, we’ve been waiting on pins and needles for this moment, and now we have it: the first images of James Franco in his much talked-about performance on General Hospital. Still no word on who James will be playing (beyond that it has something to do with Jason), but feel free to speculate away based on the image. And don’t forget: James’s first air date is Friday, November 20th! What do you think of this first shot? What’s this character all about? What’s with the all-black ensemble? Does that have something to do with Jason too? Start speculating!

Now, I don’t watch General Hospital at all … not since my college roommate used to make me watch it with her. I’m a total Young and the Restless and Bold and the Beautiful fan (tho B&B is really trying my patience these days) so I have NO idea what is going on on GH. I still don’t know what James Franco is doing on a soap opera but it’s deffo a boon for the show. Folks who don’t watch the show but love Franco are more likely to tune in and get hooked. I won’t be one of those new viewers (I already watch way too much TV) but, again, it’s a big score for General Hospital. Do any of y’all watch the show … are you excited that James is joining the cast?

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A few weeks ago, Young and the Restless soap opera fans learned the shocking news that iconic character Victor Newman (played by Eric Braeden) was being written off of the show after Braeden refused to take a contract pay cut to keep his job … then we heard from Braden himself railing against his studio bosses for the way they treated him … then over the weekend we learned the not so shocking news that a compromise has been worked out and Victor Newman WON’T be written off the show … and today we hear from Eric Braeden again in a new interview where he discusses the deal he worked out to stay on the show:

He’s back. Just a little more than two weeks ago, Eric Braeden announced that he would be exiting his role as Victor Newman on “The Young and the Restless,” following a salary dispute with Sony, the production company that owns the daytime drama.

Now, Eric talks to ET about his return, following the resumption and successful conclusion of contract negotiations.

ET: How did it come about that you got back into negotiations? Do you think “Y&R” fans had anything to do with it?
Eric Braeden: Let us just say that we arrived at a mutually beneficial arrangement. Obviously, I was very touched by the fans’ reaction and support. I must say in all humbleness, it touched me. I had no idea. I am inclined to be a cynic about some things, and I did not expect this type of outpouring. Did it have something to do with the outcome? I am sure it did. I come from the world of sports where you fight very hard on both sides. You finally come to the end and you shake hands.

ET: How sad were you to be walking away from the character?
Eric Braeden: As you know, in any kind of divorce or loss like that, you go through so many emotions, you can’t think straight for awhile. It is kind of a grieving process. It is all kinds of emotions rolled into one.

ET: When are you back? Right now, your last airdate is Nov. 2.
Eric Braeden: I don’t know. You would have to ask [head writer] Maria Bell. I don’t know when that is planned. Obviously, it would have been difficult. No question about that. I love the role. I love the show. I have been an enormous supporter of it for 30 years.

ET: Can we assume you signed a new three-year deal?
Eric Braeden: You can assume something like that.

ET: What do you look forward to for Victor in the future?
Eric Braeden: To come back and take revenge!

ET: He is so good at that.
Eric Braeden: He is very good at that.

ET: The other show owned by Sony let two of its top cast members go, and didn’t suffer in the ratings.
Eric Braeden: It is very difficult to ascertain to what degree one is important to the fabric of the whole thing. You don’t know until afterwards. That is the enormous gamble that you take. It is impossible to foretell.

As an avid fan of the show (which my mother got me hooked on in the mid-80′s) I’ve been paying particular attention to all this, ahem, drama and since Y&R has been the #1 daytime drama for over a decade now, I know there are many fans of the show out there as well. It sounds to me like Braeden decided to bite the bullet, take the pay cut and keep his job. Methinks this sends a clear message to the rest of the Y&R cast that if the most central character on the show can be threatened with exile off the show than any character can as well. For now … all’s right in Genoa City, WI (where Y&R takes place) … let the rein of Victor Newman carry on!

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Late last month we learned the SHOCKING news that The Young and the Restless veteran actor Eric Braeden (who plays the venerable Victor Newman on the long-running, #1 daytime drama on US TV) was being written out of the show due to a contract spat with the studio. Earlier this month, Braeden talked about how his mistreatment by the studio made him feel and sounded like there was no hope for his return to the show … but that was then, this is now. A new report out this weekend claims that Braeden and studio heads have agreed on a deal to keep him on the show! It looks like Victor Newman will remain on Y&R after all:

There’s peace in Genoa City: Eric Braeden, the longtime star of CBS’ top-rated “The Young and the Restless,” has agreed to return to the show. Braeden opted to leave a few weeks ago after producer Sony Pictures Television asked all cast and crew to take major pay cuts. In the actor’s case, that mean a reduction from around $1.5 million per year to around $1 million. But now a person familiar with the matter says Braeden has accepted Sony’s pay cut and will return to the series. The timing of his return is still being worked out. Braeden’s last episode was to have been Nov. 2. News of his return comes days after TheWrap reported that Sony had been considering hiring a well-known actor to fill the gap left by Braeden’s departure.

UPDATE 7:40 PM CDT: A spokesman for Braeden confirmed to TheWrap that the actor has agreed to return to the show.

Hmmm … I’m actually surprised that Eric Braeden decided to take the pay cut in order to stay on the show. While I believe it’s the smart thing to do (especially in this economy), Braeden strikes me as a stubborn and proud man (much like his character on Y&R) and my gut told me he wouldn’t budge. Work is work and a pay check is a pay check … in the end the studio is happy they got their way, Braeden should be happy that he still has a job and fans of the show will deffo be happy that Victor Newman will remain on the show. It sounds like a win-win-win situation all the way around.

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A couple of weeks ago we learned that Eric Braeden, one of the principal stars of the long running #1 daytime drama series The Young and the Restless, was being written off his show because he refused to take a paycut midway into his contract with the studio. Because he was not willing to succumb to studio demands, his iconic character Victor Newman has been sent off to sunny pastures off the show. Entertainment Weekly scored an exclusive interview with Braeden, wherein he gives his side of the story:

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. 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 Nov. 2. Reps for Sony and CBS had no comment, though one insider indicated that no further talks are planned. EW 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.

EW: Where do things stand? Did your representative counter Sony’s offer and you have yet to hear an answer?
Braeden: Precisely.

EW: As of today, are you willing to take what Sony offered?
Braeden: No. There is no appreciation of the fact that I’ve been an important part of the show for 27 years that has been no. 1 in the ratings. That’s extraordinary. So to be dealt with in a perfunctory matter as if you had just known these people for a few months is what is most offensive. This is a certain corporate culture now that is very deleterious.

EW: Is it true you offered to take a pay cut before?
Braeden: I was the first one [to offer] because I knew that if we all did it, we would insure the continuation of the show. I did it two years ago when I signed my last contract, which I thought would last until next November.

EW: Did you say your on-set goodbyes?
Braeden: I said this could be a long goodbye, and I may not see you for a long time. Who knows? I’m not saying I’ve been let go – we’re still negotiating. But it feels like that.

EW: What does this say about the state of the industry when a production company is asking the star of the Braeden: No. 1 show in daytime to take a pay cut? Should everyone be worried?
Yes, though it depends on what the star does. All options are open right now. What can I tell you? I know there are certain economic realities that dictate the actions they are taking right now, but the manner in which its being done is most insulting.

After the jump, read the rest of Braeden‘s interview — he talks about his last day on the set of Y&R, his future plans and what he foresees for the future of soap operas in general …

Longtime fans of the #1 daytime drama, The Young and the Restless, have a big adjustment to get used to in the coming weeks on the series. According to a new report, Y&R head character honcho Victor Newman (played for 30+ years by actor Eric Braeden) is being written off the show. Braden refused to take a pay cut from the show (which was asked of all the actors on the soap to keep things afloat) and was informed that he would be written out of the show. Does this sound familiar, Y&R fans? Melody Thomas Scott (who plays Nikki Reed-Foster-Bancroft-DiSalvo-Newman-Abbott-Landers-Chow on the series), who’s been on the show almost as long as Braeden has, tried to pull the same stunt earlier this year … and she was written out of the show, too:

Stop the presses! Emmy winner Eric Braeden has been written out as the iconic Victor Newman on Y&R. The actor has already taped his last scenes. Reportedly, Victor and Nikki go on vacation. For the past few weeks, Braeden has been involved in intense negotiations. While his contract is up at the end of 2010, Y&R has been asking actors to take pay cuts when their 13-week cycles expire. Actors like Braeden and Melody Thomas Scott (Nikki), who this past summer was written out after she balked over the same issue, are furious; not over the fact that they are being asked to take pay cuts but that they are being expected to re-negotiate their contracts during their 13-week cycles. It is important to note that they are willing to take pay cuts but at the end of their contracts. “Everyone knows they have to take a slash in pay,” says an insider. “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. The same thing happened to MTS. Her contract wasn’t up this summer — her cycle was.” As previously reported, Y&R is currently transitioning Adam Newman to inherit his father’s complex history. Additionally, the sudser has announced it’s casting a new millionaire bad guy named Tucker with a big name to cover their bases. “The casting call is not a scare tactic,” says an executive. “Tucker is a real role.” During Braeden’s last tape date, the actor gave a speech to the cast saying he may not come back and thanked the cast and crew for decades of memories. “He said he wasn’t sure if he’d ever be back, and thanked everyone for their hard work,” says one co-star. “He got emotional towards the end. After his speech, there was dead silence. We were all stunned,” says another witness. If you’re a fan of The Mustache, Soapgeist suggests you start writing into CBS, Sony, and Y&R like yesterday.

To be honest, none of this is surprising. And, as a longtime fan of Y&R, I don’t mind it so much anymore. I was more upset when I learned that Thomas Scott (Nikki) was being written off the show but I’m not so broken up about Braeden‘s departure. I understand that Braeden the actor is almost as pig-headed, stubborn and uncompromising as his Victor Newman character is. Not only is he a horrid actor but he really doesn’t bring anything new to the show. I don’t understand how it seems more desirable to say no to a pay cut and get written off the show. The fact that neither character (Nikki or Victor) is being killed off is a good sign for them … should they wise up, they can come back. Should they not wise up, the actors can be (shudder) replaced when those characters eventually return to the show. While it’s true that losing these characters would be a big change for fans of the series … I personally would be fine with the changes. I would rather lose a couple of characters than risk losing the whole show because their selfish paid contract demands were being met. Any Y&R fans out there? What do y’all think?

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OK, so I realize that news about Soap Operas isn’t the usual kind of fare that we get around here (unless we’re talking about the Daytime Emmys) but this bit of info is too interesting to me to let pass by. Melody Thomas Scott, who stars as Nikki Newman on the long-running daytime drama The Young and the Restless, is reportedly being written off the show because she refused to take a pay cut due to the failing economy. Melody‘s character was introduced on the show back in 1978 and is the main female character on the show … but, apparently, due to her unwillingness to come to terms with production, she is now apparently getting axed from the show she’s starred on for more than 30 years:

Once again, Melody Thomas Scott (Nikki) proves she’s her own worst enemy. As we exclusively reported a few weeks ago in Nelson Ratings, Scott refused to take a pay cut, or drop to recurring status, which is what the soap was offering. While Maria Arena Bell and Paul Rauch hoped that the former hair model would re-sign with the sudser, insiders inform The Suds Report the two parties have hit a stalemate in contract negotiations. In fact, the soap has written out the character already because the show is writing story past her contract expiration date. However, at press time, Y&R has decided not to recast the role in case Scott comes to her senses. Ironically, MTS celebrated her 30th anniversary with the No. 1 sudser this year. A former co-star tells The Suds Report that, “Mel thought she ran that show for years because her hubby, Ed [Scott], was the producer. Well, times have changed, and actors do not run that show anymore. She’s nuts if she thinks another soap can afford her. Mel is so tied to Nikki that she won’t get another soap gig, especially in these tough economic times.” This isn’t the first time MTS has left the series over a contract dispute. The Emmy-nominated star bolted a few years back, but predictably returned a few months later. “I’m not sure if Mel and Ed can afford not to be working right now,” says a friend close to MTS. “She really thought she was exempt from these pay cuts.” As an aside, I don’t want to be the person who has to tell Eric Braeden (Victor), whose contract is up at the end of the year, he has to take a pay cut. Good luck with that, Y&R!

I think it is wholly unwise for anyone with a contract in Daytime Television to be walking away from the money being offered to them … this economy ain’t really providing better options than what Soap Operas offer. The Young and the Restless is the #1 Daytime TV drama in the US and has been for the past decade or so … it seems totally foolish to turn down a pay cut and lose your job just to save face. I understand that even with her pay cut, MTS would still be among the highest paid actresses in Daytime TV. Dumb. I love Nikki on Y&R and I’d hate to see her recast. Sorry to all y’all who have no interest in stuff like this but, well, we all have our guilty pleasures and Y&R is mine.

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Hollywood and Highland was overrun by the brightest and best of Daytime television last night as the 35th Annual Daytime Emmy Awards took center stage (in the sweltering heat) at the Kodak Theater here in Hollywood, CA. A plethora of Daytime stars took to the red carpet last night but, to be honest, I am only really interested in the folks who appear on my fave Daytime soaps The Young and the Restless and The Bold and the Beautiful. Here are a few folks from both shows as they made their way down the red carpet last night:

Despite nominations in many of the major categories, only 2 folks from Y&R took home Daytime Emmys last night (Kristoff St. John for Best Supporting Actor in a Drama Series and Jeanne Cooper for Best Lead Actress in a Drama Series) … but I suppose much congrats should go out to the other folks who did win awards, including Ellen DeGeneres and Tyra Banks among others …