Want to Oust Couric? Show Her the Money

Firing underperforming Evening News anchor would cost CBS $40M
By Kevin Spak,  Newser Staff
Posted Jul 28, 2008 2:20 PM CDT
Former NBC "Today" show co-host Katie Couric, now the "CBS Evening News" anchor, embraces her former "Today" co-host Matt Lauer when she visited the program in New York Wednesday, May 28, 2008.   (AP Photo/Richard Drew)
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(Newser) – Katie Couric is keeping her CBS Evening News gig because it would be too expensive to fire her, sources tell the New York Post. Couric has a “pay or play” clause that would force the network to fork over $40 million if it replaces her. “The contract is airtight,” says one source. Les Moonves has “tried to get her to move on, and she was like, ‘Fine. I’ll leave—where’s my money?’”

The network denies the rumor. “This is unmitigated bull[bleep],” a representative said. “Katie is on the air because CBS is committed to her as an anchor.”