Hollywood's major studios have advised the Screen Actors Guild to sleep on it. Just so long as it wakes up in time.

The Alliance of Motion Picture and TV Producers said Wednesday that the union has until Aug. 15 to accept the three-year deal on the table, or else any proposed wage increases will no longer be retroactive to July 1, the day after their previous contract expired.

If SAG continues to hold out for more generous new-media and DVD residuals past the newly imposed deadline, it could amount to losses of nearly $200,000 a day for the actors.

"The producers have included this traditional incentive in the final offer in order to get everyone back to work," the AMPTP said in a statement.

The ultimatum comes a day after the American Federation of TV & Radio Artists, the smaller actors union that largely covers newspeople, talk-show hosts and other nonprime-time stars, got on board with what the alliance was dishing out, voting to ratify the SAG-displeasing deal previously hammered out in May.

Reflecting the relative ease with which the two sides came together, their new contract is, of course, retroactive to July 1.

SAG said Wednesday that it was finalizing its response to AMPTP's proposal but had no comment on the new deadline. A meeting is planned for Thursday afternoon.