The Financial TIMES is reporting that Hollywood is bracing for a round of deep budget cuts in the wake of a horrific summer of hot flops..

But, as the FT reports,

"Top talent will continue to command a premium price, according to Barry Katz, president of New Wave Entertainment, which represents stars such as Dane Cook.
"I can guarantee you that the big stars aren’t going to take a pay cut," he says. "Studios need them to bring in the audiences.""