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Fox Television, a unit of News Corp , issued its statement after a report that the cast of the subversive comedy had refused a proposed 45 percent pay cut.

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

“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,” the statement added.

“The Simpsons” is the longest-running comedy series on U.S. television and is currently in its 23rd season on Fox. The show also generates billions of dollars through global syndication, as well as DVD and merchandise sales.

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