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More bad news for CBS (or is it?). Anchor Katie Couric will reportedly leave the network’s evening news program as soon as the November election or perhaps next year’s presidential inauguration.
Couric is not much more than a third of the way through her 5-year, $75 million contract, but the news program’s ratings have been plummeting since she took over in June 2006.
According to the Wall Street Journal, this is just the latest in a string of problems for CBS News:
Adding to the pressure on CBS to improve the newscast is the faltering performance of CBS’s prime-time schedule and CBS Corp. itself. CBS’s stock price has slumped in recent months amid questions about the company’s growth potential. Its broadcast network is a key revenue source for CBS — more so than for most media companies, which tend to have a wider array of assets.
It’s possible that Ms. Couric could survive if a major news event lifted the newscast’s ratings or some other shift occurred at CBS.
[Continue reading Couric and CBS]
CBS News has suffered a number of hits recently, from Dan Rather’s lawsuit regarding the network’s allegedly coercion of an on-air apology from him and recent reports that it could outsource its reporting to CNN.