Gail King’s position at CBS seems to be uncertain these days.
The host of “CBS Mornings,” who started her journey with the network back in 2012 alongside Charlie Rose and Norah O’Donnell, is currently in negotiations for a contract set to expire in September, according to sources.
At 70 years old, King is reportedly earning over $10 million, which some insiders believe is too high given the show’s declining ratings. Last year, her salary was reduced from $13 million when she signed a new one-year deal.
One insider mentioned, “This could be Gail’s last year,” hinting at the uncertainty around her future with the network.
Since she signed her last contract, CBS, under Paramount Global, has faced significant budget cuts while preparing for a merger with Skydance Media.
Change is definitely in the air. CBS News chief Wendy McMahon is trying to revamp the format and lineup, as viewership for both “CBS Morning” and “CBS Evening News” has dropped sharply.
Tom Cibrowski, CBS News’s president, is working to stabilize the situation, although the challenges could worsen if King decides to leave.
“Tom doesn’t have enough hands to block the dam hole,” a CBS insider remarked.
The ratings for “CBS Mornings,” co-hosted by King, Tony Dokoupil, and Nate Burleson, have dipped below two million—quite concerning for the show.
Paramount plans to implement more cuts soon, aiming to save $500 million next month. There are expectations that the new management from Skydance will keep trimming down resources.
One insider stated, “The first year of the merger will be tough.”
While Skydance did not comment directly, a source indicated that securing another one-year contract for King would be a “miracle,” given how the network views her salary as excessive.
Typically, contracts last around three years. However, there’s a sense that King might prefer a shorter contract to keep her options open for the future.
“Gail sees the writing on the wall,” one source remarked.
Both CBS News and King did not respond to inquiries for comment.
While King is a prominent figure at CBS, she reportedly does not have much leverage in negotiations. Though she could have considered another pay cut, the potential decreases in salary would be significant, particularly with continuous ratings declines in the news division.
The latest episode of her show hit a new low since the reboot in September 2021.
In recent weeks, total viewership plummeted beneath two million, despite a ratings boost from her exclusive coverage of Jeff Bezos’ Blue Origin launch.
That coverage managed to attract an impressive 3.9 million viewers, but unfortunately, “CBS Mornings” fell back to 1.9 million viewers, trailing behind ABC and NBC.
“Skydance will definitely keep her with these numbers,” said the initial source.
Although a merger with Paramount is anticipated in the coming months, it appears there are some hurdles to overcome.
Currently, Paramount is also dealing with legal discussions related to a $20 billion lawsuit involving Trump’s lawyers. Brendan Kerr, Trump’s FCC Chairman, is reportedly looking into this matter as well.
