Posted on 04/24/2002 9:26:44 AM PDT by PJ-Comix
**World Exclusive**
Marking a U-turn in media celebrity payouts, ABC anchor Peter Jennings is being asked to take an unprecedented salary cut, the DRUDGE REPORT has learned.
As budget concerns spread throughout the network's news division, Jennings, 63, is being asked to make a "reasonable adjustment" in compensation, according to top sources -- a "reasonable adjustment" which could cost Jennings millions!
The WORLD NEWS TONIGHT anchor's current contract, set to expire, guarantees nearly $10 million a year.
But fresh talks between Jennings and the network -- currently being described as "informal" -- center on the news veteran's willingness to consider a new $7.5 million a year rate, according to insiders.
"[ABC NEWS PRESIDENT David] Westin has orders to get the budget in order," reveals a top source. "The entire newsroom has gone under the knife, there have been so many cuts, now it's Peter's turn... Yes, it is going to be a very delicate dance."
It is not immediately clear if Jennings will consider a reduction in pay and stay on at ABC NEWS.
"Managment's hope is Peter will understand how salaries must begin to reflect current [economic] times," a network source said from New York.
Complicating maters for all involved, GOOD MORNING AMERICA co-anchor and WORLD NEWS sub, Charlie Gibson, has also entered into new contract negotiations.
"To have Charlie working on a new contract at the same time as the anchor question with Peter hits the wall is nothing short of an insurance policy," a top ABC source, who demanded anonymity, explained.
MORE
Eyebrows were raised around ABC last month when Peter Jennings's wife, Kayce Freed, who worked for the network's 20/20 mag, left to pursue a freelance career.
At least one ABC NEWS executive predicts a Jennings victory in contract talks.
"I would be willing to place a bet that Westin and DISNEY executives will not stick to a pay cut demand, if Jennings puts up a solid fight. Why risk another public embarrassment to the news division after the NIGHTLINE-LETTERMAN dust up?" said the executive on Wednesday.
MORE
The coming months are shaping up to be a season of intrigue for big network news anchors. While ABC navigates through a Peter Jennings renewal, NBC's Tom Brokaw, 62, will also see his contract lapse.
On whether he will stay or go, Brokaw told Elizabeth Jensen of the LOS ANGELES TIMES: "Give me your home phone number, and you'll be the first person I tell."
The summer knows.
Developing...
As for Jennings - the net will probably do him more favors than Charlie Gibson, but then ya never know. What I'm guessing they'll do is some sort of deferred compensation, something to get him in under the league-mandated Salary Cap...oh, wait. That's another sport. Um, never mind.
Michael
it's also interesting that abc was considering paying letterman a bundle to join the abc (of course, that's because the newsdivision stinx and future monies are available through the entertainmentdivision)
BWAHAHAHAHAHAHAH
It is not immediately clear if Jennings will consider a reduction in pay and stay on at ABC NEWS.
What else is he going to do.
He has other skills, but using safety scissors and eating paste doesn’t pay nearly as well.
Please tell me he's not as liberal as his dad (former publisher of the Tennessean).
Of the two, I'd rather see charlie gone - his easy-going demeanor more cleverly masks his bias. At least with peetah, his agenda is very evident.
BWAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAA
*sniff*
BWAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAA
*sniff*....that's better now...
BWAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAAHAAAAAHAAAA
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