Why Do Fat Cat News Anchors Keep Making Big Bucks While Newsrooms Get Cut?

George Stephanopoulos

ABC News is scheduled to cut 300 members of their staff today as a part of the media company’s “digital transformation,” in which their journalists will be expected to shoot and edit video themselves.

But as nearly 25% of the ABC News newsroom lose their jobs, big names like George Stephanopoulos, will most likely continue to get their high-paying anchor salaries.

When asked if this would be the case, Westin responded to the New York Observer,

I’m never going to talk about any individuals’ salaries, because it wouldn’t be fair.  But I can tell you without reservation, we’ve been addressing that for a few years now, quietly behind the scenes. The economic reality has effected everyone’s compensation.

“I’ll talk about job positions, ” Mr. Westin to the Observer. “Different positions pay different amounts of money. I think the relevant comparison is, what does that position pay as opposed to what it used to pay?”

Before he retired in 2009, Charlie Gibson made a reported $7-8 million a year for anchoring ABC’s World News.

ABC News’ Diane Sawyer, makes a reported $12-15 million-a-year salary.

Other networks are facing the same dilemmas.

CBS News president had to hush rumours that evening news anchor Katie Couric was going to get a salary cut after her $15 million-a-year contract expires next year.

NBC Nightly News anchor Brian Williams reportedly makes $10 million a year.

Ratings are plummeting across the TV industry, including morning and evening news broadcasts. Shouldn’t the stars take on some of the punishment, along with the rest of the newsrooms?

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