CBS News Faces $50M Losses Amid Kings Contract Uncertainty

Gayle King's future at CBS News is uncertain amid reports of financial struggles and organizational restructuring following the acquisition of the network by Skydance Media's David Ellison. While a report claiming CBS News is losing around $50 million annually was denied by the network, insiders and industry analysts suggest these claims could have been leaked to justify upcoming budget cuts, including reductions in talent salaries. CBS has been experiencing dwindling ratings for 'CBS Mornings,' with criticism targeting King and her executive producer Shawna Thomas for programming perceived as overly progressive, which some insiders say conflicts with audience preferences. The network's new leadership under Paramount's CEO Jeff Shell appears focused on efficiency, and there is speculation that King's $15 million contract, expiring next May, may not be renewed. Discussions about King's potential departure are ongoing, with Adriana Diaz reportedly being groomed as a possible successor. Internal politics and the rollback of previous diversity, equity, and inclusion initiatives also contribute to the tension surrounding King's position at CBS.