Could CBS Lose Their King?

According to sources speaking to the New York Post, Gayle King's tenure as co-host of "CBS Mornings" may be nearing its end as her contract approaches its September expiration. Insiders suggest that King's reported $10 million-plus salary is deemed excessive given the show's declining ratings. This comes after her compensation was already trimmed from $13 million in her last one-year deal. A media insider close to the Tiffany Network commented, "This could be Gayle’s last year."

The Post also reported that CBS parent company Paramount Global is undergoing significant financial restructuring, including a mandate to slash $500 million in costs, with further cuts anticipated after its proposed merger with Skydance Media. This environment, coupled with recent leadership changes at CBS News—including the stepping down of CBS News boss Wendy McMahon—creates a challenging backdrop for King's contract negotiations. Losing King would further complicate matters for newly empowered CBS News president Tom Cibrowski, who is tasked with stemming the bleeding from widespread ratings declines.

While King is a prominent figure at the network, her bargaining power is reportedly limited due to the show's low ratings. Though she has accepted one-year deals in the past, a "miracle" would be required for another large one-year contract, with sources indicating she is "too expensive" for CBS, which typically offers three-year deals to talent. One source suggested King "sees the writing on the wall," implying she may be considering her options beyond CBS. Skydance declined to comment, though a source close to them noted King's contract is not a priority amid other pressing issues.