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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
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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.”

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.
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)
If CBS execs want to oust anchor Katie Couric, it's going to cost them.
If CBS execs want to oust anchor Katie Couric, it's going to cost them.   (KRT Photos)
Katie Couric, anchor of the CBS Evening News, is interviewed on the NBC Today television program, in New York Wednesday May 28, 2008.
Katie Couric, anchor of the "CBS Evening News," is interviewed on the NBC "Today" television program, in New York Wednesday May 28, 2008.   (AP Photo/Richard Drew)
CBS News anchor Katie Couric attends the funeral of former White House Press Secretary Tony Snow, Thursday, July 17, 2008.
CBS News anchor Katie Couric attends the funeral of former White House Press Secretary Tony Snow, Thursday, July 17, 2008.   (AP Photo/J. Scott Applewhite)
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