Democrats #1 News Network Cuts Salaries As Viewership Plummets

With cable news viewership on the decline, major television networks are contemplating slashing the salaries of their on-air talent as a cost-saving measure.

CNN and Fox News, among others, are facing financial constraints that make it difficult to sustain multi-million-dollar contracts for their television personalities amidst the industry’s downturn.

Some of the top hosts command staggering salaries, with MSNBC’s Rachel Maddow reportedly earning a whopping $40 million annually. Similarly, Sean Hannity of Fox News is said to rake in around $25 million per year, while Anderson Cooper of CNN pulls in a salary ranging from $20-25 million.

The decline in revenue from advertisements and affiliate fees has hit many cable news networks hard. With mainstream media facing increased distrust and viewers turning to alternative sources for news, networks are feeling the pinch.

CNN CEO Mark Thompson, who previously worked at the BBC and New York Times, where salaries are comparatively lower, is startled by the hefty paychecks of American television personalities. Thompson has been implementing cost-cutting measures since assuming his role, such as canceling low-performing shows like “CNN This Morning,” which resulted in staff layoffs.

The strategy to reduce anchor salaries is part of Thompson’s broader plan to transition CNN into a more digital-focused platform.

Across the media landscape, layoffs have become commonplace, with major networks like Fox News, CNN, MSNBC, NBC, CBS News, and ABC News all experiencing significant staff reductions.

Thompson’s approach is indicative of a broader industry trend, with media executives reevaluating costs and seeking ways to maintain profitability in the face of evolving business models. This includes exploring avenues to reduce talent expenses while keeping profits robust.