Martha Byrne
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Martha Byrne and James DePaiva will co-star in Jerry Sterner's "Other People's Money" at the Engeman Theater in Northport.

Byrne, a two-time Emmy Award winner for her work on As the World Turns, will appear opposite fellow soap actor DePaiva (ex-Max, One Life to Live) as well as Mitchell McGuire, Wilbur Edwin Henry and Neva Rae Powers. Michael Licata directs the Engeman production that begins performances May 1.

In "Other People's Money," pcorporate raider Lawrence Garfinkle, always looking for the next big score, has set his sights on New England Wire & Cable, a family-owned mom & pop company. Standing in his way is Kate Sullivan, a beautiful Wall Street attorney.

"Other People's Money" runs through June 1. For tickets call (631) 261-2900 or visit www.engemantheater.com.

Now that Martha Byrne has shot her final scene for As the World Turns, the actress is free to discuss her controversial exit from the show. That's exactly what she recently did with TV Guide...

TVGuide.com: Your fans are furious about this, and I know because I'm one of 'em! What the hell happened here?
Martha Byrne: This was the situation: Last year, I was asked to take a tremendous pay cut, and I did so willingly because I love As the World Turns and understood the financial situation the show was facing. I was willing to do anything to keep the show going, including giving up money, so we worked out a one-year contract. One year later, we go into this new contract negotiation and I had only one request.

I thought it was only fair — and I wanted it on paper — that I would work the same amount of days this year that I did last year. I considered it a gesture of good faith on their part. I asked for nothing else. Zero. But I was told that this could not be put into my contract and, that same day, the show sent out a breakdown notice to recast my role.

TVGuide.com: Was that supposed to be a scare tactic?
Byrne: Maybe. But I thought it was inappropriate. That shouldn't happen in the middle of negotiations. My request didn't warrant that kind of tactic, if in fact it was a tactic. After that, things went from bad to worse. I can't get into those details but it solidified my decision to leave the show.

I never intended to speak about this but I now feel I must after Chris put out that press release saying they did everything they could to keep me. I do not feel that was the case, and I feel the fans deserve the truth.

Read the full Byrne interview now.

Martha Byrne shot her last scenes for As the World Turns today.

As for how her character will be written out of the show, sources say Lily will suddenly realize that she's traumatized by Dusty's January death and will leave town in May.

Byrne's immediate plans include spending time with her family (retired NYPD Sgt. Michael McMahon and their three kids Michael, Maxwell and Annmarie) and hosting a live chat on her Web site (www.marthabyrne.net ) Sunday night at 7, when, she promises, "all your questions will be answered."

""A door has been closed, but I have always found"it"to be"true that another one soon opens," Byrne said. Watch this space for her next gig - and for the name of the new actress hired to play Lily.

Now that Martha Byrne is officially leaving As the World Turns, the actress has a response to the show's side of her departure, which went as follows:

"We have made Martha an incredibly generous offer in hopes that she would remain a valuable member of the As the World Turns cast."

Byrne doesn't see it the same way. She recently told Soap Opera Digest:

"Last year, understanding the impending fiscal constraints the show faced, I willingly signed a one-year contract with a substantial pay reduction. With six weeks remaining on that contract, the show began negotiations on a new one. I made it known I was willing to sign a multi-year contract and was committed to stay with the show...

"I then learned the show, that same afternoon, put out a breakdown for my immediate replacement. That was the end of any further negotiations for me. Unfortunately, what I thought to be a reasonable and workable request, the show determined [to be] unworkable."

According to TV Guide, Procter & Gamble has confirmed that two-time Emmy winner Martha Byrne will soon exit As the World Turns.

Other websites are reporting that the fan favorite — who plays Lily Snyder — turned down an insulting offer to re-sign her contract. But the show's executive producer Chris Goutman says this isn't the case.

“We made Martha an incredibly generous offer in hopes that she would remain a valuable member of the As the World Turns cast,” Goutman says in a statement. “Unfortunately, Martha has decided to leave despite our best efforts to keep her.”

Those close to the situation swear that’s valid.

“When Goutman says ‘generous,’ he means it — the offer was generous by anyone’s standards,” insists one longtime staffer. “I don’t know what else the show could have done for Martha.”

The actress, who is still taping episodes, will be off the air by April.

Dusty rejects Lily this week on As the World Turns. The development sends her on a downward spiral that culminates in a shocking death on Friday.

"It starts bad and ends worse," Martha Byrne, who plays the tormented heroine, tells The New York Daily News. "Lily has been fragile since her [pill] addiction. It will take very little to set her off again."

On this week's As the World Turns episodes, it's Dusty telling her he is still in love with Emily.

"She is completely devastated," says Byrne. "That sets her off, and she starts scoring drugs again. She goes to Yo's to pick up a couple of pills - I didn't realize that Yo's was the hot spot for medication - and she runs into Krista."

Krista used to work as a prostitute, a fact she shares over drinks - and pills - with Lily.

"At first, Lily misunderstands," says Byrne. "She says, 'You must be talking about somebody else.' There's no way that the Emily she knows would do something like that. But then it starts to make sense. Lily uses that information in the most horrible way because she's hurt."

Indeed, Lily leaves a note for Emily's boyfriend, Chris (Dylan Bruce), detailing Emily's life as a prostitute; then, she heads for a party at the hospital, where everything blows up.

What happens next? Tune in this week to As the World Turns and see!

Martha Byrne took over the role of Lucy Deakins on As the World Turns in 1985. She won an Emmy in 1987 for it.

Ont he series, Byrne's character ended up marrying Derek, who died in an explosion meant for her in 1989. A badly burned Lily subsequently left town, as Byrne herself took off for Hollywood.

"I've gone as far as I can go with Lily," she told Soap Opera Digest back then. "The character needs a break, and so do I."

From there, Heather Rattray took over as a colder, cynical Lily in 1990. It was this Lily who eventually wed Holden in an elaborate ceremony, but Jon Hensley (who portrays Holden) admits:

"We didn't have that underlying chemistry that you need to make it work day in and day out."

So Rattray was dismissed and then-Head Writer Douglas Marland lured Byrne back to As the World Turns in 1993, when Rattray was leaving.

"I was more than happy to come back because he was writing and he had great ideas. Then, unfortunately, he passed away before I started taping," said Byrne, who later added. "I'll stay on As the World Turns as long as they want me."