The great TV news pay cut is underway, driven by shrinking audiences, declining linear TV revenue, corporate restructurings, and a push toward digital priorities—hitting even the highest-paid anchors hard.
According to Claire Atkinson's latest report in The Ankler newsletter (published Feb. 12, 2026), the elite club of eight-figure news stars is shrinking fast amid tighter budgets at major networks.
Key examples include:
- CBS Evening News anchor Tony Dokoupil now earns an estimated $4 million annually—significantly lower than competitors ABC's David Muir at $8 million and NBC's Tom Llamas at around $5 million.
- CBS Mornings co-host Gayle King, previously at about $17 million per year, is in ongoing negotiations that could result in a major salary reduction as the network weighs cost-cutting under new leadership.
- At MSNBC (now rebranded as MS Now in some contexts), Rachel Maddow agreed to a cut from $30 million to $25 million annually as part of contract resets tied to broader corporate changes.
- CNN's Anderson Cooper recently re-signed for an estimated $18-20 million range, holding relatively steady despite initial scrutiny and network pressures.
These shifts reflect broader industry trends: Paramount (CBS's parent) has already implemented layoffs and buyouts, while networks like MSNBC and CNN grapple with ratings challenges, debt, and the decline of traditional cable/viewership.
Insiders describe it as a "Survivor"-like environment where top talent faces pressure to accept lower pay to preserve jobs elsewhere—or risk replacement by lower-cost on-air personalities, contributors, or even AI-driven alternatives.
The era of massive anchor paydays, once fueled by cable dominance, is fading as media companies prioritize profitability in a fragmented, digital-first landscape. Top earners remain a small, aging group, but their leverage is eroding quickly.