Gayle King’s future at CBS is becoming uncertain as she approaches contract negotiations with the network. The veteran host of “CBS Mornings,” who has been with the network since 2012, is facing significant hurdles with her contract, which is set to expire in September. Insiders indicate that her current salary exceeds $10 million, a figure that may not be justifiable given the declining ratings of her show. Last year, her pay was trimmed from $13 million as part of a one-year renewal amidst a period of budget cuts for CBS’s parent company, Paramount Global.
The environment at CBS is particularly turbulent, especially following the recent resignation of CBS News executive Wendy McMahon, who stepped down as the network grappled with plunging ratings for marquee shows like “CBS Mornings” and “CBS Evening News.” The shifting leadership has left new CBS News president Tom Cibrowski to confront these challenges, and losing King could complicate matters further.
Recent ratings for “CBS Mornings” have shown the show struggling, with viewership dropping below 2 million. This decline comes despite a temporary spike in viewership during King’s highly publicized spaceflight on a Jeff Bezos-operated mission, which attracted a total audience of approximately 3.9 million. However, following this event, the ratings fell again, highlighting the ongoing challenges faced by the morning program.
Paramount is expected to face more budget cuts as part of a strategic plan to reduce expenses by $500 million, with new management from Skydance, which is set to merge with Paramount, likely to continue these cost-saving measures. Insiders suggest that CBS may only offer King one-year contracts moving forward due to her high salary, which limits her bargaining power even as she evaluates her options for the future.
Despite the uncertain outlook for her continuation at CBS, King’s prominence in the media landscape remains significant. The coming months will be crucial as the network navigates management changes and continues to evaluate its talent in light of the broader industry challenges.