Sign of the times: Network news talent may face salary cuts as a result of “rampant” media cost-cutting
Rampant cost-cutting across a media industry struggling to transition to the streaming era is coming for the sacred cows: star talent, reports the Wall Street Journal.
At NBC, “Today” anchor Hoda Kotb, in photo, said late last month she is ending her run on the show. Had she opted to sign a new deal, she would likely have faced a significant cut to her roughly $20 million-a-year contract, people familiar with her exit said, states WSJ.
According to WSJ, at Disney’s ABC, “Good Morning America” anchors George Stephanopoulos, Robin Roberts and Michael Strahan, who each have deals valued at $25 million annually, will face an uphill battle in coming negotiations to maintain that compensation, people familiar with the situation said.
ESPN, meanwhile, recently laid off senior NBA writer Zach Lowe, one of its star analysts, after it had already said goodbye to other big names like Robert Griffin III.
More here.
Photo: NBC
