Three days after SAG-AFTRA voted to show solidarity with the WGA, a former Hollywood executive warned the film and television industries could see “devastating effects” if both strikes are “not settled soon.”

Barry Diller, chairman of IAC and Expedia Group and former CEO of Paramount Pictures, explained what could happen if the strikes go on longer than intended in an appearance on CBS’s Face the Nation on Sunday.

“These conditions will potentially produce an absolute collapse of an entire industry” if they persist past September 1, Diller said.