CBS News Sinking Ship Like CNN
Reports are indicating that there are budget cuts and a move to shake up personalities in the lineup for CBS News which is trailing badly against the other two national networks:
ABC World News Tonight = 9.4 million total viewers;
NBC Nightly News gets 8.3 million;
CBS trails bigly at about 5.9 million total viewers.
The sinking news program is reportedly making substantial budget and cost cuts to survive.
News anchor Norah O’Donnell’s salary was reportedly cut by more than half at CBS Evening News. The Post is reporting O'Donnell was re-signed in April for a yearly salary of $3.8 million – more that 1/2 the amount than the $8 million CBS previously trumpeted previously.
An interesting situation is the curveball O'Donnell gave CBS when they offered the huge salary cut -- thinking she would leave which would clear the decks as the orchestra continues to play. Instead, she took the cut. Now CBS execs are stuck for now.
“By re-signing her contract, they’ve given the message to the company that last place is good enough,” a source said. “Now, they’re having trouble getting an outside executive producer in part because nobody wants to deal with her and also because the ratings are below 5 million.”
The rest of the scuttlebutt is mostly the continuing drama between the news actress, staff and producers with accusations regarding "toxic" behavior and conditions.
The historical changes happening now which show institutions crashing as they lose the trust of the public will continue to degrade the traditional press and create the opportunity for creators, companies, and brands to talk directly to the new type of information consumers.