The Simpsons, the cult US cartoon series, is facing the axe after the actors who work on the show refused to accept a major pay cut.

The animated series has been a fixture of the schedules since 1989 and is in its 23rd season, making it one of the biggest success stories in television history and a cash cow for Fox Television.

However, a contract dispute threatens to bring the show to an end.

Executives at the network have reportedly said that the show will close down in the spring unless cast members take a 45 per cent pay cut.

The actors each earn an estimated $8 million per year. Their proposal for a 30 per cent cut in exchange for a percentage of the show's profits from global syndication and merchandising has been turned down by Fox.

A show insider said, "Fox is taking the position that unless they can cut the production costs really drastically, they'll pull the plug on new shows.
The show has made billions in profits over the years and will continue to do so as far as the eye can see down the road. The actors are willing to take a pay cut of roughly a third, but that's not good enough for Fox."

20th Century Fox TV said, "23 seasons in, The Simpsons is as vibrant as ever and beloved by millions around the world.

We believe this series can and should continue, but we cannot produce future seasons under its current financial model.

We are hopeful that we can reach an agreement with the voice cast that allows The Simpsons to go on entertaining audiences with original episodes for many years to come."